Bank of New York Mellon Corp Cuts Position in Entergy Corporation $ETR

Bank of New York Mellon Corp decreased its holdings in Entergy Corporation (NYSE:ETR) by 0.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,451,739 shares of the utilities provider’s stock after selling 20,270 shares during the quarter. Bank of New York Mellon Corp’s holdings in Entergy were worth $275,477,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ETR. Brighton Jones LLC raised its stake in Entergy by 275.6% during the fourth quarter. Brighton Jones LLC now owns 9,176 shares of the utilities provider’s stock worth $696,000 after purchasing an additional 6,733 shares during the period. Woodline Partners LP grew its stake in shares of Entergy by 40.7% in the first quarter. Woodline Partners LP now owns 36,228 shares of the utilities provider’s stock valued at $3,097,000 after buying an additional 10,476 shares in the last quarter. Marshall Wace LLP purchased a new stake in Entergy during the 2nd quarter worth approximately $6,869,000. Brown Advisory Inc. boosted its position in Entergy by 4.8% in the 2nd quarter. Brown Advisory Inc. now owns 4,254 shares of the utilities provider’s stock valued at $354,000 after buying an additional 193 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new position in Entergy in the 2nd quarter valued at approximately $17,225,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Entergy Price Performance

Shares of ETR opened at $113.43 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.96 and a quick ratio of 0.73. The stock has a fifty day moving average price of $112.20 and a 200 day moving average price of $106.95. The company has a market cap of $51.94 billion, a P/E ratio of 28.94, a PEG ratio of 1.96 and a beta of 0.50. Entergy Corporation has a 12 month low of $84.76 and a 12 month high of $118.44.

Entergy (NYSE:ETR) last issued its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.02. The business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $2.89 billion. Entergy had a return on equity of 10.75% and a net margin of 13.48%.During the same period in the previous year, the firm posted $0.82 earnings per share. Entergy has set its FY 2026 guidance at 4.250-4.450 EPS. On average, research analysts forecast that Entergy Corporation will post 4.4 earnings per share for the current year.

Analyst Ratings Changes

ETR has been the subject of several recent analyst reports. Barclays reduced their price objective on shares of Entergy from $124.00 to $119.00 and set an “overweight” rating for the company in a research report on Wednesday, June 3rd. Evercore set a $123.00 target price on shares of Entergy in a research note on Wednesday, June 10th. Citigroup reaffirmed a “neutral” rating and issued a $121.00 target price (up from $116.00) on shares of Entergy in a report on Tuesday, May 5th. UBS Group reaffirmed a “buy” rating and set a $135.00 price target (up from $131.00) on shares of Entergy in a research note on Thursday, April 30th. Finally, BMO Capital Markets set a $123.00 price objective on shares of Entergy in a research report on Wednesday, June 10th. Seventeen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $120.21.

Insiders Place Their Bets

In related news, insider Haley Fisackerly sold 10,638 shares of Entergy stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $110.00, for a total transaction of $1,170,180.00. Following the transaction, the insider directly owned 14,182 shares of the company’s stock, valued at $1,560,020. The trade was a 42.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.21% of the stock is owned by corporate insiders.

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.