Bank of New York Mellon Corp Has $239.78 Million Stake in Entergy Corporation $ETR

Bank of New York Mellon Corp lessened its stake in shares of Entergy Corporation (NYSE:ETR) by 4.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,573,007 shares of the utilities provider’s stock after selling 119,432 shares during the period. Bank of New York Mellon Corp owned 0.58% of Entergy worth $239,779,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Capital A Wealth Management LLC raised its holdings in shares of Entergy by 5,466.7% during the second quarter. Capital A Wealth Management LLC now owns 334 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 328 shares during the period. GoalVest Advisory LLC grew its stake in shares of Entergy by 5,733.3% in the 2nd quarter. GoalVest Advisory LLC now owns 350 shares of the utilities provider’s stock valued at $29,000 after buying an additional 344 shares during the period. Atlantic Union Bankshares Corp bought a new stake in Entergy in the 2nd quarter valued at about $30,000. Legacy Investment Solutions LLC bought a new stake in Entergy in the 2nd quarter valued at about $31,000. Finally, Mountain Hill Investment Partners Corp. acquired a new position in Entergy during the 3rd quarter worth approximately $43,000. 88.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ETR. BTIG Research raised Entergy to a “strong-buy” rating in a research note on Wednesday, October 22nd. Morgan Stanley reiterated an “underperform” rating on shares of Entergy in a report on Wednesday, January 21st. Argus set a $100.00 price target on shares of Entergy and gave the company a “buy” rating in a research note on Tuesday, January 6th. UBS Group restated a “buy” rating and set a $105.00 price objective (up previously from $96.00) on shares of Entergy in a report on Wednesday, December 17th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $104.00 price objective (up from $96.00) on shares of Entergy in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $104.83.

Insider Activity at Entergy

In related news, insider Anastasia Minor sold 5,000 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $96.39, for a total transaction of $481,950.00. Following the transaction, the insider directly owned 10,122 shares in the company, valued at approximately $975,659.58. The trade was a 33.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ralph Lewis Ropp acquired 1,000 shares of Entergy stock in a transaction on Wednesday, November 12th. The stock was purchased at an average cost of $96.69 per share, with a total value of $96,690.00. Following the completion of the transaction, the director directly owned 1,050 shares in the company, valued at $101,524.50. This represents a 2,000.00% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.39% of the stock is owned by insiders.

Entergy Trading Down 0.2%

NYSE ETR opened at $95.86 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.48 and a debt-to-equity ratio of 1.62. The business has a fifty day simple moving average of $93.95 and a 200 day simple moving average of $92.49. Entergy Corporation has a 12 month low of $75.57 and a 12 month high of $98.58. The firm has a market capitalization of $42.81 billion, a P/E ratio of 23.67, a PEG ratio of 2.14 and a beta of 0.66.

Entergy (NYSE:ETR) last posted its quarterly earnings data on Wednesday, October 29th. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.21. The firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.58 billion. Entergy had a net margin of 14.26% and a return on equity of 11.53%. During the same period in the previous year, the firm earned $2.99 EPS. On average, analysts predict that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Company Profile

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.