Bank of New York Mellon Corp Has $215.96 Million Stock Holdings in Entergy Corporation (NYSE:ETR)

Bank of New York Mellon Corp lifted its stake in shares of Entergy Corporation (NYSE:ETR) by 87.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,848,293 shares of the utilities provider’s stock after purchasing an additional 1,328,694 shares during the quarter. Bank of New York Mellon Corp owned 0.66% of Entergy worth $215,958,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Fortis Group Advisors LLC grew its stake in Entergy by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock worth $26,000 after buying an additional 172 shares in the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of Entergy during the 3rd quarter worth approximately $27,000. Fortitude Family Office LLC lifted its holdings in shares of Entergy by 423.8% during the 3rd quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 178 shares during the period. IFS Advisors LLC acquired a new stake in shares of Entergy during the 4th quarter worth approximately $30,000. Finally, Ulland Investment Advisors LLC increased its stake in Entergy by 100.0% in the fourth quarter. Ulland Investment Advisors LLC now owns 400 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 88.07% of the company’s stock.

Entergy Trading Down 1.0 %

Shares of NYSE ETR opened at $85.26 on Friday. The firm has a 50 day moving average price of $80.35 and a two-hundred day moving average price of $72.24. The stock has a market cap of $36.70 billion, a P/E ratio of 35.02, a price-to-earnings-growth ratio of 2.34 and a beta of 0.72. Entergy Corporation has a 52-week low of $49.80 and a 52-week high of $88.38. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.59 and a current ratio of 0.72.

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

Entergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be given a dividend of $0.60 per share. The ex-dividend date is Monday, February 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.81%. Entergy’s dividend payout ratio (DPR) is 98.77%.

Insider Buying and Selling

In other Entergy news, insider Deanna D. Rodriguez sold 6,088 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $73.94, for a total transaction of $450,146.72. Following the completion of the sale, the insider now owns 3,952 shares of the company’s stock, valued at approximately $292,210.88. This represents a 60.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.39% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Morgan Stanley upgraded Entergy from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $58.00 to $75.00 in a research note on Monday, November 4th. StockNews.com upgraded Entergy from a “sell” rating to a “hold” rating in a research report on Sunday, December 29th. Barclays lifted their target price on Entergy from $68.50 to $76.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Evercore ISI increased their target price on shares of Entergy from $75.00 to $86.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Finally, BMO Capital Markets raised their price target on shares of Entergy from $79.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $82.14.

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.