Meyer Handelman Co. Sells 43,135 Shares of Entergy Corporation $ETR

Meyer Handelman Co. cut its stake in Entergy Corporation (NYSE:ETR) by 25.2% in the third quarter, Holdings Channel.com reports. The firm owned 127,723 shares of the utilities provider’s stock after selling 43,135 shares during the quarter. Meyer Handelman Co.’s holdings in Entergy were worth $11,903,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in shares of Entergy by 7.5% in the third quarter. Blue Trust Inc. now owns 3,199 shares of the utilities provider’s stock valued at $298,000 after purchasing an additional 222 shares in the last quarter. Spirit of America Management Corp NY boosted its holdings in shares of Entergy by 21.0% in the 3rd quarter. Spirit of America Management Corp NY now owns 30,800 shares of the utilities provider’s stock valued at $2,870,000 after buying an additional 5,350 shares during the last quarter. Ballew Advisors Inc bought a new position in shares of Entergy in the third quarter valued at $214,000. World Investment Advisors increased its holdings in Entergy by 269.9% during the third quarter. World Investment Advisors now owns 22,384 shares of the utilities provider’s stock worth $2,086,000 after buying an additional 16,332 shares during the last quarter. Finally, Brookstone Capital Management increased its holdings in Entergy by 4.8% during the third quarter. Brookstone Capital Management now owns 10,104 shares of the utilities provider’s stock worth $942,000 after buying an additional 465 shares during the last quarter. Institutional investors own 88.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. BTIG Research raised shares of Entergy to a “strong-buy” rating in a research report on Wednesday, October 22nd. Evercore ISI lifted their price target on Entergy from $98.00 to $101.00 and gave the stock an “in-line” rating in a report on Thursday, October 30th. Citigroup boosted their price target on Entergy from $91.00 to $106.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 18th. Scotiabank set a $105.00 price objective on Entergy and gave the company an “outperform” rating in a research note on Friday, October 3rd. Finally, Mizuho lifted their target price on Entergy from $97.00 to $104.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.09.

Insider Activity

In other Entergy news, Director Ralph Lewis Ropp acquired 1,000 shares of the business’s stock in a transaction on Wednesday, November 12th. The stock was purchased at an average price of $96.69 per share, with a total value of $96,690.00. Following the acquisition, the director directly owned 1,050 shares of the company’s stock, valued at approximately $101,524.50. This trade represents a 2,000.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anastasia Minor sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $96.39, for a total transaction of $481,950.00. Following the transaction, the insider owned 10,122 shares in the company, valued at approximately $975,659.58. The trade was a 33.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 10,179 shares of company stock valued at $981,707. 0.39% of the stock is owned by company insiders.

Entergy Trading Up 0.3%

Shares of ETR stock opened at $92.93 on Friday. Entergy Corporation has a 12-month low of $74.72 and a 12-month high of $98.58. The company has a market capitalization of $41.50 billion, a PE ratio of 22.94, a price-to-earnings-growth ratio of 2.33 and a beta of 0.62. The firm has a 50 day moving average price of $94.72 and a two-hundred day moving average price of $90.35. The company has a quick ratio of 0.48, a current ratio of 0.71 and a debt-to-equity ratio of 1.62.

Entergy (NYSE:ETR) last announced its earnings results on Friday, July 8th. The utilities provider reported $0.71 earnings per share for the quarter. The company had revenue of $2.37 billion for the quarter. Entergy had a return on equity of 11.53% and a net margin of 14.26%. As a group, analysts predict that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Thursday, November 13th were given a $0.64 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This is a boost from Entergy’s previous quarterly dividend of $0.60. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.8%. Entergy’s dividend payout ratio (DPR) is presently 63.21%.

About Entergy

Entergy Corporation (NYSE:ETR) is an integrated energy company headquartered in New Orleans, Louisiana, that generates, transmits and distributes electricity. The company’s operations combine regulated utility services with competitive power production, supplying retail electricity to residential, commercial and industrial customers while also participating in wholesale energy markets. Entergy’s generation fleet includes nuclear, natural gas, hydropower and other resources, and it operates a network of transmission and distribution assets to deliver power to end users.

Entergy conducts its regulated utility business through state-based operating subsidiaries that serve customers across parts of Arkansas, Louisiana, Mississippi and southeast Texas.