Stock Upgrade of the Day: Entergy Corporation (ETR)

Entergy Corporation (NYSE:ETR) received a stock rating upgrade from Goldman on Apr-01-16. In a note to investors, the firm issued a Buy rating. The analysts previously had a Neutral rating on the stock.

The 52-week price range is $ 59.76 – 79.72 and the company has a market capitalization of $ 14.22B. Analysts covering the shares maintain a consensus Hold rating, according to Zacks Investment Research. 1 analyst has rated the stock with a sell rating, 12 has assigned a hold rating, zero says it’s a buy, and 1 have assigned a strong buy rating to the company.

Comprehensive inspections completed during a planned outage at the Indian Point nuclear power plant show critical components at Unit 2 continue to perform safely and as intended, with maintenance required in one area before the plant can be restarted, Entergy Corporation (ETR) announced on March 29, 2016.

“Safety is always our first priority, and the hundreds of inspections performed over the last few weeks demonstrate these programs work as designed,” said Larry Coyle, site vice president and Entergy’s top official at Indian Point. “Safeguards and automatic detection equipment are in place to alert plant operators of impacts on safe operations.”

Indian Point Unit 2’s “Aging Management Program” — implemented in connection with license renewal — calls for an in-depth inspection of the reactor vessel every ten years. The first such inspection took place during a scheduled refueling and maintenance outage that began March 7, and used visual and where possible, ultrasonic inspections. Inspections of more than 2,000 bolts in the reactor’s removable insert liner revealed issues with approximately 11 percent that require further analysis. Issues were identified on bolts on the face of the removable liner, not on bolts along the liner’s edges. Engineers identified missing bolts, and bars meant to hold them in place, and other degradation requiring replacement of the bolts. Each bolt, about two inches long and made of stainless steel, holds plate inserts together inside the reactor.

The issues identified with the reactor vessel insert liner bolts did not have an impact on public health or safety and will be corrected prior to returning Indian Point Unit 2 to operation. With comprehensive inspections on the entire reactor vessel finished, once a full engineering assessment of the issue is also completed and corrective actions taken, the unit can safely operate in the period of extended operation. This work is expected to add cost and several weeks’ duration to the refueling and maintenance outage.

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