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

Meyer Handelman Co. cut its holdings in Entergy Co. (NYSE:ETRGet Rating) by 0.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 132,344 shares of the utilities provider’s stock after selling 400 shares during the period. Meyer Handelman Co.’s holdings in Entergy were worth $14,908,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ETR. Capital International Investors lifted its stake in Entergy by 17.1% in 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. BlackRock Inc. lifted its stake in Entergy by 9.0% in the first quarter. BlackRock Inc. now owns 18,499,101 shares of the utilities provider’s stock worth $2,159,770,000 after purchasing an additional 1,533,746 shares during the last quarter. State Street Corp lifted its stake in Entergy by 8.1% in 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. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Entergy by 35.8% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,699,404 shares of the utilities provider’s stock worth $315,156,000 after purchasing an additional 711,770 shares during the last quarter. Finally, 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 period. 90.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. BMO Capital Markets upped their price objective on shares of Entergy from $124.00 to $132.00 and gave the company an “outperform” rating in a research note on Thursday, August 4th. Evercore ISI lifted their price target on shares of Entergy to $130.00 in a report on Tuesday, August 9th. Morgan Stanley lifted their price target on shares of Entergy from $106.00 to $115.00 and gave the company an “underweight” rating in a report on Tuesday, August 23rd. Mizuho cut their price target on shares of Entergy from $127.00 to $123.00 and set a “buy” rating on the stock in a report on Wednesday, June 29th. Finally, Credit Suisse Group cut their price target on shares of Entergy from $136.00 to $114.00 and set an “outperform” rating on the stock in a report on Tuesday, June 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Entergy presently has an average rating of “Hold” and an average price target of $125.43.

Entergy Stock Down 2.5 %

Shares of ETR traded down $2.86 during trading hours on Friday, hitting $111.06. The company had a trading volume of 5,995 shares, compared to its average volume of 1,064,148. The firm has a fifty day moving average price of $116.48 and a 200-day moving average price of $115.96. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.64 and a current ratio of 0.87. The stock has a market capitalization of $22.59 billion, a price-to-earnings ratio of 18.83, a P/E/G ratio of 2.63 and a beta of 0.57. Entergy Co. has a 52-week low of $98.50 and a 52-week high of $126.82.

Entergy (NYSE:ETRGet Rating) last released its quarterly earnings data on Wednesday, August 3rd. The utilities provider reported $1.78 EPS for the quarter, topping the consensus estimate of $1.42 by $0.36. Entergy had a return on equity of 11.07% and a net margin of 9.92%. The company had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same period last year, the company earned $1.34 EPS. On average, equities research analysts forecast that Entergy Co. will post 6.38 EPS for the current fiscal year.

Entergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Thursday, August 11th were issued 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 payout ratio is 66.78%.

Entergy Profile

(Get Rating)

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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