5 Most Undervalued Utility Stocks To Buy According To Hedge Funds

2. Entergy Corporation (NYSE:ETR)

PE Ratio as of January 26: 17.47

Entergy Corporation (NYSE:ETR) ranks 2nd in our list of the most undervalued utility stocks to buy according to hedge funds. Of the 920 hedge funds tracked by Insider Monkey as of the end of the third quarter, 31 funds had stakes in Entergy Corporation (NYSE:ETR). The biggest stakeholder of Entergy Corporation (NYSE:ETR) was Israel Englander’s Millennium Management with an $88.4 million stake. The second biggest stakeholder in Entergy Corporation (NYSE:ETR) was Michael Gelband’s ExodusPoint Capital which reported owning a $60 million stake in Entergy Corporation (NYSE:ETR).

In November, Entergy Corporation (NYSE:ETR) posted its third-quarter results. Entergy Corporation (NYSE:ETR)’s adjusted EPS in the period came in at $2.48, beating estimates by $0.19. However, Entergy Corporation (NYSE:ETR) narrowed its 2022 adjusted EPS forecast to the range of $6.25 to $6.45 versus the consensus of $6.38. Previous guidance was $6.15 to $6.45.