Entergy (ETR) Gets a Buy from RBC Capital

In a report released on November 9, Shelby Tucker from RBC Capital maintained a Buy rating on Entergy (ETRResearch Report), with a price target of $129.00. The company’s shares closed yesterday at $111.04.

Tucker covers the Utilities sector, focusing on stocks such as Consolidated Edison, Edison International, and PG&E. According to TipRanks, Tucker has an average return of 10.3% and a 68.41% success rate on recommended stocks.

Currently, the analyst consensus on Entergy is a Moderate Buy with an average price target of $119.71, implying a 7.81% upside from current levels. In a report released on November 4, Credit Suisse also maintained a Buy rating on the stock with a $117.00 price target.

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Based on Entergy’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $4.22 billion and a net profit of $555.88 million. In comparison, last year the company earned a revenue of $3.35 billion and had a net profit of $535.58 million

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Entergy Corp. is a holding company, which engages in electric power generation and distribution. It operates through the following segments: Utility, Entergy Wholesale Commodities, and All Other. The Utility segment includes the generation, transmission, distribution, and sale of electric power; and operations of a natural gas distribution business. The Entergy Wholesale Commodities segment owns, operates, and decommissions nuclear power plants; and sells electric power. The All Other segment comprises parent company, Entergy Corporation, and Other business activity. The company was founded by Harvey Couch on November 13, 1913 and is headquartered in New Orleans, LA.

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