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 (ETR) Price Target Raised by BMO Capital

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%.

While we acknowledge the potential of ETR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ETR and that has a 100x upside potential, check out our report about the cheapest AI stock.

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