Meyer Handelman Co. Sells 2,200 Shares of Entergy Co. (NYSE:ETR)

Meyer Handelman Co. decreased its holdings in shares of Entergy Co. (NYSE:ETR) by 2.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,909 shares of the utilities provider’s stock after selling 2,200 shares during the period. Meyer Handelman Co.’s holdings in Entergy were worth $11,833,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ETR. Able Wealth Management LLC purchased a new stake in Entergy in the fourth quarter worth $43,000. V Square Quantitative Management LLC boosted its stake in shares of Entergy by 8.1% during the 4th quarter. V Square Quantitative Management LLC now owns 2,657 shares of the utilities provider’s stock valued at $269,000 after purchasing an additional 200 shares in the last quarter. Neo Ivy Capital Management purchased a new position in shares of Entergy during the fourth quarter valued at about $50,000. Krane Funds Advisors LLC bought a new position in Entergy in the fourth quarter worth about $476,000. Finally, Fortis Group Advisors LLC lifted its holdings in Entergy by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 688 shares of the utilities provider’s stock worth $70,000 after buying an additional 344 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Insider Activity at Entergy

In other Entergy news, CEO Andrew S. Marsh sold 3,200 shares of Entergy stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $121.46, for a total value of $388,672.00. Following the completion of the sale, the chief executive officer now owns 150,731 shares of the company’s stock, valued at approximately $18,307,787.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Entergy news, CEO Andrew S. Marsh sold 3,200 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $121.46, for a total value of $388,672.00. Following the transaction, the chief executive officer now directly owns 150,731 shares of the company’s stock, valued at approximately $18,307,787.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Eliecer Viamontes sold 5,166 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $120.00, for a total transaction of $619,920.00. Following the sale, the insider now directly owns 5,117 shares of the company’s stock, valued at $614,040. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,810 shares of company stock worth $6,140,626 over the last quarter. Company insiders own 0.39% of the company’s stock.

Entergy Stock Performance

ETR stock opened at $130.65 on Friday. The stock’s 50 day simple moving average is $123.94 and its 200 day simple moving average is $113.74. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 1.81. Entergy Co. has a 12-month low of $90.78 and a 12-month high of $133.38. The stock has a market capitalization of $27.94 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 2.46 and a beta of 0.74.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.16. Entergy had a return on equity of 10.10% and a net margin of 14.75%. The firm had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the prior year, the company posted $1.84 earnings per share. As a group, research analysts forecast that Entergy Co. will post 7.22 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 13th were issued a dividend of $1.13 per share. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $4.52 annualized dividend and a dividend yield of 3.46%. Entergy’s payout ratio is 54.07%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ETR shares. Barclays decreased their target price on Entergy from $138.00 to $137.00 and set an “overweight” rating for the company in a research report on Monday, October 7th. Argus raised Entergy to a “strong-buy” rating in a research report on Wednesday, August 28th. Guggenheim upped their target price on shares of Entergy from $118.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price target on shares of Entergy from $131.00 to $141.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Finally, Scotiabank upped their price objective on shares of Entergy from $115.00 to $119.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.50.

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.