Bank of New York Mellon Corp Reduces Stake in Entergy Corporation $ETR

Bank of New York Mellon Corp reduced its stake in shares of Entergy Corporation (NYSE:ETR) by 3.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,692,439 shares of the utilities provider’s stock after selling 108,303 shares during the period. Bank of New York Mellon Corp’s holdings in Entergy were worth $223,796,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ETR. Brighton Jones LLC grew its position in shares of Entergy by 275.6% during the 4th quarter. Brighton Jones LLC now owns 9,176 shares of the utilities provider’s stock valued at $696,000 after acquiring an additional 6,733 shares during the period. D.A. Davidson & CO. bought a new position in shares of Entergy during the 1st quarter valued at approximately $251,000. OneDigital Investment Advisors LLC grew its position in shares of Entergy by 6.1% during the 1st quarter. OneDigital Investment Advisors LLC now owns 7,039 shares of the utilities provider’s stock valued at $602,000 after acquiring an additional 402 shares during the period. World Investment Advisors grew its position in shares of Entergy by 7.3% during the 1st quarter. World Investment Advisors now owns 6,466 shares of the utilities provider’s stock valued at $553,000 after acquiring an additional 439 shares during the period. Finally, Concurrent Investment Advisors LLC grew its position in shares of Entergy by 2.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 10,412 shares of the utilities provider’s stock valued at $890,000 after acquiring an additional 240 shares during the period. 88.07% of the stock is owned by institutional investors.

Entergy Stock Up 0.1%

ETR opened at $96.28 on Thursday. The company has a fifty day moving average price of $92.73 and a 200-day moving average price of $87.48. The firm has a market capitalization of $42.98 billion, a P/E ratio of 23.77, a price-to-earnings-growth ratio of 2.40 and a beta of 0.62. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.71 and a quick ratio of 0.52. Entergy Corporation has a one year low of $72.17 and a one year high of $98.58.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Friday, July 8th. The utilities provider reported $0.71 EPS for the quarter. The firm had revenue of $2.37 billion for the quarter. Entergy had a net margin of 14.26% and a return on equity of 11.53%. Equities research analysts expect that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Thursday, November 13th will be issued a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Thursday, November 13th. This is a positive change from Entergy’s previous quarterly dividend of $0.60. Entergy’s payout ratio is currently 59.26%.

Insiders Place Their Bets

In other news, insider Anastasia Minor sold 5,000 shares of the stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $96.39, for a total value of $481,950.00. Following the transaction, the insider owned 10,122 shares of the company’s stock, valued at $975,659.58. This represents a 33.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Haley Fisackerly sold 5,136 shares of the stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $96.50, for a total transaction of $495,624.00. Following the transaction, the insider directly owned 7,899 shares in the company, valued at approximately $762,253.50. This represents a 39.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 10,324 shares of company stock worth $994,902 in the last three months. Insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ETR shares. JPMorgan Chase & Co. increased their target price on shares of Entergy from $102.00 to $103.00 and gave the company an “overweight” rating in a research report on Thursday, August 21st. Morgan Stanley set a $93.00 price target on shares of Entergy and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Evercore ISI upped their price target on shares of Entergy from $98.00 to $101.00 and gave the company an “in-line” rating in a research note on Thursday, October 30th. Bank of America upped their price target on shares of Entergy from $88.00 to $97.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Finally, BTIG Research upgraded shares of Entergy to a “strong-buy” rating in a research note on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.37.

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.