Hartree Partners LP Acquires 80,000 Shares of Entergy Corporation

Hartree Partners LP has recently entered a new investment in Entergy Corporation (NYSE:ETR) during the fourth quarter, as detailed in their most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor has acquired 80,000 shares of Entergy's stock, which are valued at approximately $6,066,000. This acquisition means that Entergy represents 2.3% of Hartree Partners LP's investment portfolio, making it the 14th largest holding for the firm.

Other Institutional Investments

In addition to Hartree Partners, several other hedge funds and institutional investors have adjusted their positions in Entergy Corporation. For instance, Vanguard Group Inc. increased its stake in Entergy by an impressive 101.9% during the fourth quarter, now holding 52,133,646 shares valued at approximately $3.95 billion after adding an additional 26,312,267 shares. Similarly, Barrow Hanley Mewhinney & Strauss LLC raised its holdings by 66.7%, acquiring 4,418,528 additional shares to own a total of 11,042,159 shares worth around $837.2 million. Furthermore, JPMorgan Chase & Co. expanded its shareholdings by 105.1%, now owning 7,363,219 shares valued at $558.3 million after buying 3,773,492 additional shares in the latest quarter. Norges Bank also entered into a new stake in Entergy valued at approximately $259.9 million during the same period. Franklin Resources Inc. enhanced its share in Entergy by 53.0% during the third quarter, bringing total ownership to 5,718,859 shares valued at $754.3 million. Overall, institutional investors collectively own 88.07% of Entergy's stock.

Current Stock Performance of Entergy

The opening price of Entergy shares was $84.38 as of Friday. The company has a market capitalization of around $36.35 billion, a price-to-earnings ratio of 34.65, a P/E/G ratio of 2.34, and a beta of 0.68. The stock has seen a 50-day simple moving average of $83.34 and a 200-day simple moving average of $75.86. The 52-week low for Entergy stands at $50.19, while the high is $88.38. Additionally, the company reports a debt-to-equity ratio of 1.81 and current and quick ratios of 0.72 and 0.59, respectively.

Recent Earnings and Dividend Declaration

Entergy Corporation recently announced its quarterly earnings on February 18th. The company reported earnings of $0.66 per share, surpassing the analysts' expected earnings of $0.63 by $0.03. The total revenue recorded for the quarter was $2.74 billion, falling short of analysts' forecast of $3.24 billion. Entergy achieved a net margin of 8.90% and a return on equity of 10.68%. In comparison to the same quarter of the previous year, the firm's earnings increased from $0.26 per share. Analysts forecast Entergy Corporation will achieve earnings of approximately $3.88 per share for the current fiscal year.

Moreover, Entergy has declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders recorded as of February 10th received a dividend of $0.60. This dividend represents an annualized amount of $2.40, providing a yield of 2.84%. Currently, Entergy's dividend payout ratio sits at 98.77%.

Wall Street Analysts' Perspectives

Entergy's stock has been the subject of various research analyst reviews. Wells Fargo & Company raised their price target from $85.00 to $97.00, giving Entergy an "overweight" rating in their recent report. Evercore ISI also hiked their price target from $75.00 to $86.00, maintaining an "in-line" rating. In a similar fashion, BMO Capital Markets increased their price target from $79.00 to $94.00 and rated the stock as "outperform." Morgan Stanley raised their price target from $75.00 to $78.00 and assigned an "equal weight" rating. On the other hand, Scotiabank cut their price target from $165.00 to $82.00, issuing a "sector perform" rating on the stock. Currently, the consensus rating for Entergy stock is a "Moderate Buy," with six analysts recommending a hold, nine suggesting a buy, and one issuing a strong buy rating.

About Entergy Corporation

Entergy Corporation operates in the United States, focusing on the generation, transmission, distribution, and sale of electricity. The company serves parts of Arkansas, Louisiana, Mississippi, and Texas, including the New Orleans area, and also distributes natural gas.

Investment, Stocks, Dividends