Meyer Handelman Co. Trims Holdings in Entergy Corporation $ETR

Meyer Handelman Co. cut its stake in Entergy Corporation (NYSE:ETR) by 0.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 170,858 shares of the utilities provider’s stock after selling 1,325 shares during the quarter. Meyer Handelman Co.’s holdings in Entergy were worth $14,202,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ETR. Choreo LLC grew its stake in shares of Entergy by 12.3% in the 1st quarter. Choreo LLC now owns 9,546 shares of the utilities provider’s stock worth $816,000 after buying an additional 1,042 shares during the last quarter. First American Trust FSB purchased a new position in shares of Entergy during the first quarter valued at approximately $3,896,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Entergy by 26.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 96,142 shares of the utilities provider’s stock valued at $8,219,000 after buying an additional 19,862 shares during the last quarter. Empowered Funds LLC increased its position in Entergy by 369.8% during the first quarter. Empowered Funds LLC now owns 86,001 shares of the utilities provider’s stock valued at $7,352,000 after acquiring an additional 67,696 shares during the last quarter. Finally, J.W. Cole Advisors Inc. purchased a new stake in shares of Entergy during the 1st quarter valued at about $1,073,000. Institutional investors own 88.07% of the company’s stock.

Entergy Price Performance

NYSE ETR opened at $90.26 on Friday. The firm’s fifty day simple moving average is $89.03 and its two-hundred day simple moving average is $84.87. Entergy Corporation has a 12-month low of $64.38 and a 12-month high of $92.40. The firm has a market capitalization of $40.29 billion, a P/E ratio of 22.48, a P/E/G ratio of 2.49 and a beta of 0.61. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73.

Entergy (NYSE:ETR) last posted its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.14. Entergy had a net margin of 14.35% and a return on equity of 11.52%. The business had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3.11 billion. During the same quarter last year, the company posted $1.92 earnings per share. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. Analysts forecast that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 13th were given a dividend of $0.60 per share. The ex-dividend date was Wednesday, August 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.7%. Entergy’s dividend payout ratio (DPR) is 59.85%.

Insider Activity at Entergy

In related news, insider Haley Fisackerly sold 4,463 shares of the business’s stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $90.50, for a total value of $403,901.50. Following the completion of the sale, the insider owned 3,318 shares of the company’s stock, valued at approximately $300,279. The trade was a 57.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.39% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Raymond James Financial initiated coverage on Entergy in a research note on Friday, June 13th. They issued a “market perform” rating on the stock. Morgan Stanley dropped their price objective on shares of Entergy from $86.00 to $85.00 and set an “equal weight” rating for the company in a report on Thursday. Mizuho set a $97.00 target price on shares of Entergy and gave the company an “outperform” rating in a report on Thursday, July 31st. KeyCorp reissued an “overweight” rating and set a $96.00 price objective (up from $88.00) on shares of Entergy in a research note on Thursday, July 31st. Finally, Barclays lowered their target price on shares of Entergy from $91.00 to $87.00 and set an “overweight” rating for the company in a report on Thursday, July 10th. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.80.

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.