Meridian Investment Counsel Inc. Purchases 1,800 Shares of Entergy Corporation (NYSE:ETR)

Meridian Investment Counsel Inc. raised its holdings in shares of Entergy Corporation (NYSE:ETR) by 100.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,600 shares of the utilities provider’s stock after acquiring an additional 1,800 shares during the period. Meridian Investment Counsel Inc.’s holdings in Entergy were worth $273,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Fortis Group Advisors LLC grew its holdings in shares of Entergy by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 172 shares during the last quarter. NBT Bank N A NY boosted its position in Entergy by 100.0% during the fourth quarter. NBT Bank N A NY now owns 340 shares of the utilities provider’s stock valued at $26,000 after buying an additional 170 shares during the period. Legacy Investment Solutions LLC purchased a new stake in Entergy during the third quarter valued at about $27,000. Duncker Streett & Co. Inc. grew its position in Entergy by 100.0% during the 4th quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 179 shares during the last quarter. Finally, Sandy Spring Bank grew its holdings in shares of 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 purchasing an additional 179 shares during the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Entergy Stock Up 1.4 %

NYSE:ETR opened at $85.63 on Tuesday. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.72 and a quick ratio of 0.59. The firm’s 50-day moving average price is $83.41 and its 200-day moving average price is $76.13. The company has a market capitalization of $36.89 billion, a PE ratio of 35.17, a P/E/G ratio of 2.34 and a beta of 0.68. Entergy Corporation has a 1-year low of $50.19 and a 1-year high of $88.38.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. Entergy had a net margin of 8.90% and a return on equity of 10.68%. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter in the prior year, the company earned $0.26 earnings per share. On average, equities analysts predict that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date was Monday, February 10th. Entergy’s dividend payout ratio (DPR) is presently 98.77%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ETR shares. KeyCorp lowered shares of Entergy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. LADENBURG THALM/SH SH raised Entergy from a “neutral” rating to a “buy” rating and set a $86.50 target price on the stock in a research note on Thursday, January 30th. Scotiabank lowered their price target on Entergy from $165.00 to $82.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 7th. StockNews.com upgraded Entergy from a “sell” rating to a “hold” rating in a research report on Sunday, December 29th. Finally, BMO Capital Markets upped their target price on Entergy from $79.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Entergy has a consensus rating of “Moderate Buy” and an average target price of $84.75.

Entergy Company Profile

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.