Bank of New York Mellon Corp Sells 119,432 Shares of Entergy Corporation $ETR

Bank of New York Mellon Corp cut its holdings in shares of Entergy Corporation (NYSE:ETR) by 4.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,573,007 shares of the utilities provider’s stock after selling 119,432 shares during the quarter. Bank of New York Mellon Corp’s holdings in Entergy were worth $239,779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Capital A Wealth Management LLC increased its holdings in Entergy by 5,466.7% during the second quarter. Capital A Wealth Management LLC now owns 334 shares of the utilities provider’s stock worth $28,000 after buying an additional 328 shares during the last quarter. GoalVest Advisory LLC grew its position in shares of Entergy by 5,733.3% during the 2nd quarter. GoalVest Advisory LLC now owns 350 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 344 shares during the period. Atlantic Union Bankshares Corp purchased a new stake in shares of Entergy during the 2nd quarter worth approximately $30,000. Legacy Investment Solutions LLC bought a new stake in shares of Entergy in the 2nd quarter worth approximately $31,000. Finally, Mountain Hill Investment Partners Corp. purchased a new position in Entergy in the third quarter valued at approximately $43,000. 88.07% of the stock is currently owned by institutional investors.

Entergy Price Performance

Shares of NYSE ETR opened at $95.86 on Friday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.48 and a current ratio of 0.71. Entergy Corporation has a fifty-two week low of $75.57 and a fifty-two week high of $98.58. The stock has a market cap of $42.81 billion, a PE ratio of 23.67, a price-to-earnings-growth ratio of 2.14 and a beta of 0.66. The stock has a fifty day moving average of $93.95 and a 200-day moving average of $92.49.

Entergy (NYSE:ETR) last issued its earnings results on Wednesday, October 29th. The utilities provider reported $1.53 EPS for the quarter, topping the consensus estimate of $1.32 by $0.21. The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.58 billion. Entergy had a return on equity of 11.53% and a net margin of 14.26%.During the same quarter last year, the company earned $2.99 EPS. Equities research analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current year.

Insider Transactions at Entergy

In related news, insider Haley Fisackerly sold 5,136 shares of the company’s stock in a transaction that occurred 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 sale, the insider owned 7,899 shares of the company’s stock, valued at approximately $762,253.50. This represents a 39.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ralph Lewis Ropp bought 1,000 shares of the stock in a transaction on Wednesday, November 12th. The stock was purchased at an average price of $96.69 per share, for a total transaction of $96,690.00. Following the completion of the purchase, the director directly owned 1,050 shares in the company, valued at approximately $101,524.50. This represents a 2,000.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ETR shares. Citigroup increased their price objective on Entergy from $91.00 to $106.00 and gave the company a “neutral” rating in a report on Tuesday, November 18th. Wells Fargo & Company increased their price target on Entergy from $105.00 to $119.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. JPMorgan Chase & Co. decreased their price objective on Entergy from $113.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, December 11th. Mizuho lifted their price objective on Entergy from $97.00 to $104.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Entergy in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $104.83.

Entergy 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.