Yes, PARENTS is a Scrabble word!

Letter values in Scrabble US: P 3, A 1, R 1, E 1, N 1, T 1, S 1.

Is it a valid word?

PARENTS is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

a father or mother; one who begets or one who gives birth to or nurtures and raises a child; a relative who plays the role of guardian
an organism (plant or animal) from which younger ones are obtained

Also: bring up.