Bank of New York Mellon Corp Buys New Holdings in Entergy Corporation $ETR

Bank of New York Mellon Corp purchased a new position in Entergy Corporation (NYSE:ETR - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,418,765 shares of the utilities provider's stock, valued at approximately $277,819,000. Bank of New York Mellon Corp owned approximately 0.52% of Entergy as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Pinnacle Wealth Management Advisory Group LLC raised its position in shares of Entergy by 3.6% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,623 shares of the utilities provider's stock worth $295,000 after purchasing an additional 90 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in Entergy by 9.2% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,096 shares of the utilities provider's stock valued at $126,000 after purchasing an additional 92 shares during the period. Aristotle Capital Management LLC grew its position in Entergy by 4.4% in the 4th quarter. Aristotle Capital Management LLC now owns 2,280 shares of the utilities provider's stock valued at $211,000 after purchasing an additional 96 shares during the period. Founders Financial Securities LLC increased its stake in Entergy by 2.5% during the 1st quarter. Founders Financial Securities LLC now owns 4,094 shares of the utilities provider's stock valued at $481,000 after purchasing an additional 101 shares in the last quarter. Finally, Rehmann Capital Advisory Group increased its stake in Entergy by 2.8% during the 4th quarter. Rehmann Capital Advisory Group now owns 3,807 shares of the utilities provider's stock valued at $352,000 after purchasing an additional 102 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. BTIG Research reissued a "buy" rating and set a $126.00 target price on shares of Entergy in a research report on Wednesday, June 10th. Weiss Ratings downgraded Entergy from a "buy (b+)" rating to a "buy (b)" rating in a research note on Thursday. Wall Street Zen lowered Entergy from a "hold" rating to a "sell" rating in a report on Sunday, August 9th. Evercore reissued an "outperform" rating and issued a $128.00 price objective on shares of Entergy in a research note on Monday, August 17th. Finally, BMO Capital Markets raised their target price on Entergy from $123.00 to $124.00 and gave the company an "outperform" rating in a report on Wednesday, July 22nd. Seventeen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $120.84.

Entergy Stock Performance

ETR stock opened at $104.56 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.91 and a debt-to-equity ratio of 1.73. The firm has a market cap of $48.79 billion, a PE ratio of 26.81, a P/E/G ratio of 1.79 and a beta of 0.50. The business has a 50 day moving average of $111.55 and a 200-day moving average of $109.57. Entergy Corporation has a 12-month low of $86.40 and a 12-month high of $118.44.

Entergy (NYSE:ETR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The utilities provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.02. The business had revenue of $3.52 billion for the quarter, compared to analysts' expectations of $3.49 billion. Entergy had a return on equity of 10.53% and a net margin of 13.40%.During the same quarter in the previous year, the firm earned $1.05 earnings per share. Entergy has set its FY 2026 guidance at 4.250-4.450 EPS. As a group, sell-side analysts expect that Entergy Corporation will post 4.4 earnings per share for the current year.

Entergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Thursday, August 13th will be given a $0.64 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $2.56 annualized dividend and a yield of 2.4%. Entergy's payout ratio is currently 65.64%.

Insider Activity

In other Entergy news, insider Haley Fisackerly sold 10,638 shares of the business's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $110.00, for a total value of $1,170,180.00. Following the transaction, the insider directly owned 14,182 shares in the company, 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 through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ralph Lewis Ropp bought 1,000 shares of the company's stock in a transaction on Thursday, August 6th. The stock was bought at an average price of $106.08 per share, for a total transaction of $106,080.00. Following the completion of the purchase, the director owned 3,423 shares of the company's stock, valued at approximately $363,111.84. The trade was a 41.27% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.21% of the company's stock.

Entergy Company 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.

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