Meyer Handelman Co. Sells 400 Shares of Entergy Co. (NYSE:ETR)

Meyer Handelman Co. cut its holdings in shares of Entergy Co. (NYSE:ETRGet Rating) by 0.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 132,344 shares of the utilities provider’s stock after selling 400 shares during the period. Meyer Handelman Co. owned approximately 0.07% of Entergy worth $14,908,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Entergy by 2.8% in the first quarter. Vanguard Group Inc. now owns 23,663,740 shares of the utilities provider’s stock valued at $2,762,741,000 after acquiring an additional 650,775 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Entergy by 9.0% in the first quarter. BlackRock Inc. now owns 18,499,101 shares of the utilities provider’s stock valued at $2,159,770,000 after buying an additional 1,533,746 shares during the period. State Street Corp lifted its stake in Entergy by 8.1% during the first quarter. State Street Corp now owns 12,122,596 shares of the utilities provider’s stock worth $1,415,313,000 after purchasing an additional 908,932 shares during the last quarter. Capital International Investors lifted its stake in Entergy by 17.1% during the fourth quarter. Capital International Investors now owns 12,028,310 shares of the utilities provider’s stock worth $1,354,989,000 after purchasing an additional 1,758,132 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in Entergy by 2.0% during the first quarter. Bank of America Corp DE now owns 9,333,869 shares of the utilities provider’s stock worth $1,089,729,000 after purchasing an additional 181,755 shares during the last quarter. 90.53% of the stock is currently owned by institutional investors.

Entergy Trading Down 2.5 %

Entergy stock traded down $2.86 during trading hours on Friday, reaching $111.06. 5,995 shares of the company’s stock were exchanged, compared to its average volume of 1,064,148. The firm has a market capitalization of $22.59 billion, a PE ratio of 18.83, a PEG ratio of 2.63 and a beta of 0.57. The firm’s 50 day simple moving average is $116.48 and its 200 day simple moving average is $115.96. The company has a quick ratio of 0.64, a current ratio of 0.87 and a debt-to-equity ratio of 2.10. Entergy Co. has a twelve month low of $98.50 and a twelve month high of $126.82.

Entergy (NYSE:ETRGet Rating) last released its quarterly earnings data on Wednesday, August 3rd. The utilities provider reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.36. The company had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $2.89 billion. Entergy had a net margin of 9.92% and a return on equity of 11.07%. During the same quarter in the prior year, the firm earned $1.34 EPS. Research analysts predict that Entergy Co. will post 6.38 earnings per share for the current year.

Entergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Thursday, August 11th were paid a $1.01 dividend. The ex-dividend date was Wednesday, August 10th. This represents a $4.04 annualized dividend and a yield of 3.64%. Entergy’s dividend payout ratio (DPR) is 66.78%.

Wall Street Analyst Weigh In

Several research firms have weighed in on ETR. BMO Capital Markets upped their target price on Entergy from $124.00 to $132.00 and gave the stock an “outperform” rating in a research note on Thursday, August 4th. Wells Fargo & Company upped their price target on shares of Entergy from $125.00 to $138.00 and gave the stock an “overweight” rating in a report on Thursday, August 4th. Morgan Stanley upped their price target on shares of Entergy from $106.00 to $115.00 and gave the stock an “underweight” rating in a report on Tuesday, August 23rd. Credit Suisse Group lowered their price target on shares of Entergy from $136.00 to $114.00 and set an “outperform” rating for the company in a report on Tuesday, June 21st. Finally, Mizuho lowered their price target on shares of Entergy from $127.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $125.43.

Entergy Profile

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Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. The company operates in two segments, Utility and Entergy Wholesale Commodities. The Utility segment 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.

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Institutional Ownership by Quarter for Entergy (NYSE:ETR)

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