Praxis Investment Management Inc. Sells 6,980 Shares of Entergy Corporation $ETR

Key Points

• Praxis Investment Management Inc. has reduced its stake in Entergy Corporation by 44.6%, selling 6,980 shares in the second quarter, leaving it with 8,670 shares valued at approximately $721,000.
• Analyst forecasts show optimism for Entergy, as JPMorgan Chase & Co. increased their price target from $102 to $103, maintaining an "overweight" rating, while Bank of America raised their target to $97.
• Entergy recently declared a quarterly dividend of $0.60 per share, which equates to an annualized dividend yield of 2.5%, with a dividend payout ratio of 59.85%.

Praxis Investment Management Inc. trimmed its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 44.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,670 shares of the utilities provider's stock after selling 6,980 shares during the period. Praxis Investment Management Inc.'s holdings in Entergy were worth $721,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ETR. My Legacy Advisors LLC boosted its holdings in shares of Entergy by 0.8% during the 2nd quarter. My Legacy Advisors LLC now owns 16,576 shares of the utilities provider's stock worth $1,361,000 after buying an additional 128 shares during the period. Mattson Financial Services LLC boosted its holdings in shares of Entergy by 100.0% during the 1st quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider's stock worth $26,000 after buying an additional 150 shares during the period. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Entergy by 18.6% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,050 shares of the utilities provider's stock worth $90,000 after buying an additional 165 shares during the period. Horizon Investments LLC boosted its holdings in shares of Entergy by 1.8% during the 1st quarter. Horizon Investments LLC now owns 10,060 shares of the utilities provider's stock worth $854,000 after buying an additional 176 shares during the period. Finally, CreativeOne Wealth LLC boosted its holdings in shares of Entergy by 4.0% during the 1st quarter. CreativeOne Wealth LLC now owns 4,691 shares of the utilities provider's stock worth $401,000 after buying an additional 182 shares during the period. 88.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ETR has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Entergy from $102.00 to $103.00 and gave the stock an "overweight" rating in a report on Thursday, August 21st. Weiss Ratings reaffirmed 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 stock a "neutral" rating in a report on Thursday. Mizuho set a $97.00 target price on shares of Entergy and gave the company an "outperform" rating in a research note on Thursday, July 31st. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $104.00 target price (up from $96.00) on shares of Entergy in a research note on Tuesday. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $97.57.

Insider Activity at Entergy

In other news, insider Haley Fisackerly sold 4,463 shares of the firm's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $90.50, for a total transaction of $403,901.50. Following the completion of the transaction, the insider directly owned 3,318 shares of the company's stock, valued at approximately $300,279. This trade represents a 57.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.39% of the company's stock.

Entergy Price Performance

NYSE:ETR opened at $95.80 on Friday. The stock has a market cap of $42.77 billion, a P/E ratio of 23.86, a PEG ratio of 2.61 and a beta of 0.62. Entergy Corporation has a one year low of $66.75 and a one year high of $98.58. The company has a fifty day moving average price of $91.02 and a 200 day moving average price of $86.10. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.80 and a quick ratio of 0.52.

Entergy (NYSE:ETR - Get Free Report) last announced its quarterly earnings data on Friday, July 8th. The utilities provider reported $0.71 earnings per share (EPS) for the quarter. The company had revenue of $2.37 billion during the quarter. Entergy had a net margin of 14.35% and a return on equity of 11.52%. Analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 13th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Wednesday, August 13th. Entergy's dividend payout ratio (DPR) is presently 59.85%.

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.

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