Bank of New York Mellon Corp Sells 108,303 Shares of Entergy Corporation $ETR

Bank of New York Mellon Corp lowered its stake in Entergy Corporation (NYSE:ETR) by 3.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 owned 0.63% of Entergy worth $223,796,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Choreo LLC lifted its holdings in Entergy by 12.3% in the first quarter. Choreo LLC now owns 9,546 shares of the utilities provider’s stock valued at $816,000 after buying an additional 1,042 shares during the period. First American Trust FSB acquired a new position in Entergy in the first quarter valued at $3,896,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Entergy by 26.0% in the first 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 period. Zurich Insurance Group Ltd FI acquired a new position in Entergy in the first quarter valued at $32,658,000. Finally, Empowered Funds LLC lifted its holdings in Entergy by 369.8% in the first quarter. Empowered Funds LLC now owns 86,001 shares of the utilities provider’s stock valued at $7,352,000 after buying an additional 67,696 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.

Insider Transactions at Entergy

In other Entergy news, insider Haley Fisackerly sold 5,136 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $96.50, for a total value of $495,624.00. Following the completion of the sale, the insider directly 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Anastasia Minor sold 5,000 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $96.39, for a total transaction of $481,950.00. Following the completion of the sale, the insider directly owned 10,122 shares of the company’s stock, valued at $975,659.58. The trade was a 33.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 10,324 shares of company stock valued at $994,902 over the last ninety days. 0.39% of the stock is currently owned by insiders.

Entergy Trading Up 0.1%

NYSE:ETR opened at $96.28 on Thursday. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.71 and a quick ratio of 0.52. The firm has a 50-day moving average of $92.73 and a 200-day moving average of $87.48. The company has a market cap of $42.98 billion, a PE ratio of 23.77, a PEG ratio of 2.40 and a beta of 0.62. Entergy Corporation has a one year low of $72.17 and a one year high of $98.58.

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

Entergy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Thursday, November 13th will be given a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a 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%.

Analyst Ratings Changes

ETR has been the topic of several recent analyst reports. Wells Fargo & Company upgraded shares of Entergy to a “strong-buy” rating in a report on Tuesday, October 28th. Evercore ISI upped their price objective on shares of Entergy from $98.00 to $101.00 and gave the company an “in-line” rating in a report on Thursday, October 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Entergy in a report on Wednesday, October 8th. Bank of America upped their price objective on shares of Entergy from $88.00 to $97.00 and gave the company a “neutral” rating in a report on Thursday, October 16th. Finally, Scotiabank set a $105.00 price objective on shares of Entergy and gave the company an “outperform” rating in a report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $102.37.

Entergy 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.