Harvest Fund Management Co. Ltd Buys New Shares in Entergy Corporation (NYSE:ETR)

Harvest Fund Management Co. Ltd bought a new stake in Entergy Corporation (NYSE:ETR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,580 shares of the utilities provider’s stock, valued at approximately $954,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Strategic Financial Concepts LLC bought a new stake in Entergy in the fourth quarter valued at $4,393,000. Flagship Harbor Advisors LLC increased its stake in Entergy by 74.3% in the fourth quarter. Flagship Harbor Advisors LLC now owns 7,959 shares of the utilities provider’s stock valued at $603,000 after purchasing an additional 3,393 shares in the last quarter. Thompson Siegel & Walmsley LLC bought a new stake in Entergy in the third quarter valued at $32,541,000. LaFleur & Godfrey LLC bought a new stake in Entergy in the fourth quarter valued at $217,000. Finally, Avior Wealth Management LLC increased its stake in Entergy by 324.3% in the fourth quarter. Avior Wealth Management LLC now owns 734 shares of the utilities provider’s stock valued at $56,000 after purchasing an additional 561 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Entergy Stock Down 0.0 %

Entergy stock opened at $84.62 on Friday. Entergy Corporation has a twelve month low of $50.19 and a twelve month high of $88.38. The firm has a 50 day moving average price of $82.75 and a 200-day moving average price of $74.80. The company has a market capitalization of $36.42 billion, a P/E ratio of 34.75, a P/E/G ratio of 2.34 and a beta of 0.68. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 1.81.

Entergy (NYSE:ETR) last released its earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. Entergy had a net margin of 8.90% and a return on equity of 10.68%. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same period in the prior year, the firm earned $0.26 EPS. As a group, equities analysts predict that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.84%. The ex-dividend date was Monday, February 10th. Entergy’s dividend payout ratio (DPR) is presently 98.77%.

Analysts Set New Price Targets

Several research firms have weighed in on ETR. UBS Group lifted their price target on shares of Entergy from $72.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Morgan Stanley boosted their target price on shares of Entergy from $75.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday. Wells Fargo & Company upped their target price on shares of Entergy from $85.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. BMO Capital Markets upped their target price on shares of Entergy from $79.00 to $94.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Finally, LADENBURG THALM/SH SH upgraded shares of Entergy from a “neutral” rating to a “buy” rating and set a $86.50 target price on the stock in a report on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $84.32.

About Entergy

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. It generates, transmits, distributes, and sells electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans; and distributes natural gas.