Meyer Handelman Co. Has $14.72 Million Position in Entergy Corporation (NYSE:ETR)

Meyer Handelman Co. reduced its stake in shares of Entergy Corporation (NYSE:ETR - Free Report) by 3.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 172,183 shares of the utilities provider's stock after selling 6,410 shares during the quarter. Meyer Handelman Co.'s holdings in Entergy were worth $14,720,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ETR. NBT Bank N A NY raised its position in Entergy by 100.0% in the fourth quarter. NBT Bank N A NY now owns 340 shares of the utilities provider's stock worth $26,000 after acquiring an additional 170 shares in the last quarter. Fortis Group Advisors LLC raised its position in Entergy by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider's stock worth $26,000 after acquiring an additional 172 shares in the last quarter. Duncker Streett & Co. Inc. raised its position in Entergy by 100.0% in the fourth quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider's stock worth $27,000 after acquiring an additional 179 shares in the last quarter. Sandy Spring Bank raised its position in Entergy by 100.0% in the fourth quarter. Sandy Spring Bank now owns 358 shares of the utilities provider's stock worth $27,000 after acquiring an additional 179 shares in the last quarter. Finally, Glen Eagle Advisors LLC raised its position in Entergy by 100.0% in the fourth quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider's stock worth $27,000 after acquiring an additional 180 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on ETR shares. JPMorgan Chase & Co. boosted their price target on shares of Entergy from $87.00 to $98.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 11th. Evercore ISI boosted their price objective on Entergy from $75.00 to $86.00 and gave the stock an "in-line" rating in a report on Wednesday, February 19th. Wells Fargo & Company boosted their price objective on Entergy from $85.00 to $97.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. Barclays boosted their price objective on Entergy from $88.00 to $91.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Finally, KeyCorp upgraded Entergy from a "sector weight" rating to an "overweight" rating and set a $85.00 price objective on the stock in a report on Wednesday, May 14th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $86.04.

Entergy Stock Down 0.2%

NYSE:ETR traded down $0.17 on Monday, hitting $83.11. 2,577,214 shares of the company's stock traded hands, compared to its average volume of 3,641,239. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 1.81. Entergy Corporation has a 1 year low of $52.07 and a 1 year high of $88.38. The firm has a 50-day moving average price of $82.77 and a 200-day moving average price of $80.80. The company has a market cap of $35.80 billion, a PE ratio of 34.13, a price-to-earnings-growth ratio of 2.34 and a beta of 0.62.

Entergy (NYSE:ETR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.60 by $0.22. The business had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $3.13 billion. Entergy had a return on equity of 10.68% and a net margin of 8.90%. During the same quarter in the previous year, the business posted $0.54 EPS. Equities analysts anticipate that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 2nd will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $2.40 annualized dividend and a dividend yield of 2.89%. Entergy's payout ratio is 77.92%.

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.