Harvest Fund Management Co. Ltd Invests $954,000 in Entergy Corporation (NYSE:ETR)

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

A number of other hedge funds have also added to or reduced their stakes in the company. Stokes Family Office LLC bought a new position in Entergy in the fourth quarter valued at approximately $225,000. VSM Wealth Advisory LLC bought a new position in Entergy in the fourth quarter valued at approximately $30,000. Fox Hill Wealth Management increased its stake in Entergy by 96.7% in the fourth quarter. Fox Hill Wealth Management now owns 21,840 shares of the utilities provider’s stock valued at $1,656,000 after acquiring an additional 10,739 shares during the last quarter. Maryland State Retirement & Pension System increased its stake in Entergy by 86.8% in the fourth quarter. Maryland State Retirement & Pension System now owns 22,765 shares of the utilities provider’s stock valued at $1,726,000 after acquiring an additional 10,579 shares during the last quarter. Finally, ProVise Management Group LLC increased its stake in Entergy by 92.4% in the fourth quarter. ProVise Management Group LLC now owns 75,465 shares of the utilities provider’s stock valued at $5,722,000 after acquiring an additional 36,239 shares during the last quarter. 88.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ETR. Evercore ISI lifted their price objective on shares of Entergy from $75.00 to $86.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. KeyCorp lowered shares of Entergy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. 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 research report on Thursday, January 30th. Morgan Stanley raised their target price on shares of Entergy from $75.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, BMO Capital Markets raised their target price on shares of Entergy from $79.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $84.32.

Entergy Price Performance

Shares of NYSE:ETR opened at $84.62 on Friday. The firm has a market cap of $36.42 billion, a PE ratio of 34.75, a price-to-earnings-growth ratio of 2.34 and a beta of 0.68. The firm’s fifty day moving average is $82.75 and its 200-day moving average is $74.80. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.59 and a current ratio of 0.72. Entergy Corporation has a 52 week low of $50.19 and a 52 week high of $88.38.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $3.24 billion. Entergy had a net margin of 8.90% and a return on equity of 10.68%. During the same quarter in the previous year, the business earned $0.26 earnings per share. Sell-side analysts predict that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Announces Dividend

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

Entergy Profile

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.