NRG Energy (NYSE:NRG) Announces Quarterly Earnings Results

NRG Energy (NYSE:NRG) released its quarterly earnings results on Monday. The utilities provider reported $4.68 earnings per share for the quarter, topping the consensus estimate of $3.35 by $1.33, FiscalAI reports. NRG Energy had a return on equity of 52.95% and a net margin of 2.56%. The company had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $8.42 billion.

NRG Energy Stock Performance

NRG Energy stock opened at $88.38 on Monday. The stock has a fifty day moving average price of $102.00 and a 200 day moving average price of $133.71. NRG Energy has a 52 week low of $79.65 and a 52 week high of $189.96. The firm has a market capitalization of $18.65 billion, a P/E ratio of 23.38 and a beta of 1.22. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 5.17.

NRG Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be paid a $0.4750 dividend. This represents a $1.90 annualized dividend and a yield of 2.1%. The ex-dividend date is Monday, November 2nd. NRG Energy’s dividend payout ratio is presently 50.26%.

Insider Transactions at NRG Energy

In other NRG Energy news, CAO Gerald Alfred Spencer sold 1,580 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $120.93, for a total value of $191,069.40. Following the sale, the chief accounting officer directly owned 6,213 shares of the company’s stock, valued at approximately $751,338.09. This trade represents a 20.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Wells Fargo & Company reduced their price objective on NRG Energy from $209.00 to $182.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 28th. Raymond James Financial set a $152.00 price objective on NRG Energy in a research report on Wednesday, October 21st. BMO Capital Markets reissued a “market perform” rating and issued a $214.00 target price on shares of NRG Energy in a research note on Thursday, August 6th. Canadian Imperial Bank of Commerce reduced their target price on shares of NRG Energy from $173.00 to $159.00 and set an “outperformer” rating on the stock in a report on Wednesday, October 28th. Finally, Morgan Stanley decreased their price target on shares of NRG Energy from $159.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $173.56.

NRG Energy Company Profile

NRG Energy, Inc is an integrated energy company that produces and sells electricity and natural gas and provides home services. Its businesses serve residential, commercial and industrial customers, primarily in the United States and Canada.

The company supplies retail electricity and natural gas through a range of plans and brands, while its power-generation operations help support electricity markets across its service areas. NRG also offers energy-management programs and related services for businesses and other large customers.

NRG expanded into smart-home services with its 2023 acquisition of Vivint Smart Home.