Bank of New York Mellon Corp Lowers Stock Position in Entergy Corporation (NYSE:ETR)

Bank of New York Mellon Corp cut its position in Entergy Corporation (NYSE:ETR - Free Report) by 1.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,800,742 shares of the utilities provider's stock after selling 47,551 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.65% of Entergy worth $239,435,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ETR. World Investment Advisors grew its position in shares of Entergy by 7.3% during the first quarter. World Investment Advisors now owns 6,466 shares of the utilities provider's stock worth $553,000 after acquiring an additional 439 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in Entergy during the 1st quarter worth $32,000. Truist Financial Corp grew its position in Entergy by 7.0% during the 1st quarter. Truist Financial Corp now owns 2,218,180 shares of the utilities provider's stock worth $189,632,000 after purchasing an additional 145,230 shares during the last quarter. GF Fund Management CO. LTD. raised its holdings in shares of Entergy by 12,243.8% in the first quarter. GF Fund Management CO. LTD. now owns 9,011 shares of the utilities provider's stock valued at $770,000 after buying an additional 8,938 shares during the last quarter. Finally, OneDigital Investment Advisors LLC boosted its stake in shares of Entergy by 6.1% during the first quarter. OneDigital Investment Advisors LLC now owns 7,039 shares of the utilities provider's stock worth $602,000 after buying an additional 402 shares during the period. Hedge funds and other institutional investors own 88.07% of the company's stock.

Entergy Price Performance

Shares of NYSE:ETR traded down $0.81 during midday trading on Tuesday, hitting $80.91. 2,444,850 shares of the stock were exchanged, compared to its average volume of 3,759,100. Entergy Corporation has a twelve month low of $52.06 and a twelve month high of $88.38. The company has a current ratio of 0.82, a quick ratio of 0.55 and a debt-to-equity ratio of 1.91. The company has a 50 day moving average price of $82.42 and a 200-day moving average price of $81.99. The stock has a market cap of $34.85 billion, a P/E ratio of 26.27, a PEG ratio of 2.23 and a beta of 0.59.

Entergy (NYSE:ETR - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.22. The company had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.13 billion. Entergy had a return on equity of 11.43% and a net margin of 11.26%. During the same quarter last year, the business posted $0.54 earnings per share. On average, research analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

ETR has been the subject of several analyst reports. UBS Group upped their price objective on Entergy from $86.00 to $96.00 and gave the company a "buy" rating in a research note on Friday, March 21st. BMO Capital Markets increased their price target on Entergy from $89.00 to $93.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Barclays lifted their price objective on shares of Entergy from $88.00 to $91.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. KeyCorp upgraded shares of Entergy from a "sector weight" rating to an "overweight" rating and set a $85.00 target price for the company in a research note on Wednesday, May 14th. Finally, Morgan Stanley dropped their price target on shares of Entergy from $82.00 to $81.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 18th. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Entergy presently has a consensus rating of "Moderate Buy" and an average price target of $86.25.

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.