Entergy Corporation (ETR) Price Target Raised by BMO Capital

Entergy Corporation (NYSE:ETR) is included among the 12 Best Nuclear Power Dividend Stocks to Buy Now.

Entergy Corporation (NYSE:ETR) is an integrated energy company that provides electricity to 3 million utility customers in Arkansas, Louisiana, Mississippi, and Texas. The company also owns, operates, and supports a fleet of five reactors in the United States with a generation capacity of approximately 5 GW. With a renewed global spotlight on nuclear energy, the utility is looking to expand its nuclear power output by upgrading its existing plants across the country.

Entergy Corporation (NYSE:ETR) garnered increased investor attention this week after BMO Capital raised the stock’s price target from $96 to $104, while keeping an ‘Outperform’ rating on its shares. The analyst expects the company to feature a constructive plan in its Q3 results, including load growth, investment opportunities, rate base, financing, etc.

Entergy Corporation (NYSE:ETR) hit an all-time high last week after it was announced that the utility will power Google’s planned $4 billion technology investment in Arkansas. The facility will be powered by Entergy’s existing portfolio and transmission grid, further bolstered by a new 600 MW solar project and backed by a 350 MW battery storage system located in Jefferson County.

As of the writing of this piece, Entergy Corporation (NYSE:ETR) boasts an annual dividend yield of 2.48%.

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