Entergy Co. (ETR) Position Lowered by Meyer Handelman Co.
Meyer Handelman Co. decreased its stake in Entergy Co. (NYSE:ETR) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 128,450 shares of the utilities provider’s stock after selling 1,000 shares during the period. Meyer Handelman Co. owned approximately 0.07% of Entergy worth $11,055,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Entergy by 1.0% in the third quarter. Vanguard Group Inc. now owns 21,656,660 shares of the utilities provider’s stock valued at $1,757,006,000 after purchasing an additional 218,066 shares during the period. Vanguard Group Inc lifted its stake in shares of Entergy by 1.0% in the third quarter. Vanguard Group Inc now owns 21,656,660 shares of the utilities provider’s stock valued at $1,757,006,000 after purchasing an additional 218,066 shares during the period. LSV Asset Management lifted its stake in shares of Entergy by 0.4% in the third quarter. LSV Asset Management now owns 6,354,570 shares of the utilities provider’s stock valued at $515,546,000 after purchasing an additional 26,614 shares during the period. Renaissance Technologies LLC increased its holdings in Entergy by 16.0% during the 3rd quarter. Renaissance Technologies LLC now owns 3,222,600 shares of the utilities provider’s stock valued at $261,450,000 after acquiring an additional 445,500 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in Entergy by 8.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 2,813,012 shares of the utilities provider’s stock valued at $228,219,000 after acquiring an additional 227,262 shares in the last quarter. Hedge funds and other institutional investors own 93.97% of the company’s stock.
Several equities analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Entergy from a “buy” rating to a “hold” rating in a report on Wednesday, February 6th. Royal Bank of Canada restated a “hold” rating and set a $91.00 target price on shares of Entergy in a report on Wednesday, January 23rd. ValuEngine upgraded shares of Entergy from a “hold” rating to a “buy” rating in a report on Friday, December 21st. Bank of America raised their target price on shares of Entergy from $91.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, November 1st. Finally, Citigroup raised their target price on shares of Entergy from $88.00 to $89.00 and gave the company a “buy” rating in a report on Wednesday, October 17th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $89.88.
NYSE:ETR traded up $0.04 during mid-day trading on Monday, hitting $90.86. 1,389 shares of the company’s stock traded hands, compared to its average volume of 1,197,471. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 1.88. Entergy Co. has a 1 year low of $72.14 and a 1 year high of $90.82. The company has a market capitalization of $16.45 billion, a P/E ratio of 12.63, a price-to-earnings-growth ratio of 2.42 and a beta of 0.39.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Thursday, February 14th will be issued a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, February 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 4.01%. Entergy’s dividend payout ratio (DPR) is presently 50.56%.
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Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. It generates electricity through gas/oil, nuclear, coal, hydro, and solar power sources. The company's Utility segment generates, transmits, distributes, and sells electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and distributes natural gas.
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