Zacks Investment Research upgraded shares of NRG Energy, Inc. (NYSE:NRG) from a hold rating to a buy rating in a research note published on Tuesday, July 11th. Zacks Investment Research currently has $18.00 price objective on the utilities provider’s stock.
According to Zacks, “NRG Energy is gaining from its asset drop-down program that is in sync with its long- term growth strategy. Its cost saving measures, providing power to a wide variety of customers, debt reduction plans and expansion of renewable operations should further drive growth. Since the company does not depend on a single customer to generate revenues, migration of customers to other operators does nothave anysignificant impact on the company’s earnings. Shares of NRG Energy have returned more than the broader industry in the last six months. However, stringent environmental regulations, restructuring of GenOn, fluctuating weather conditions and intense competition in the wholesale power markets are headwinds.”
A number of other brokerages have also commented on NRG. UBS AG boosted their price objective on shares of NRG Energy from $16.00 to $19.00 and gave the stock a neutral rating in a report on Monday, March 20th. ValuEngine upgraded shares of NRG Energy from a buy rating to a strong-buy rating in a report on Thursday, July 6th. Deutsche Bank AG cut their price objective on shares of NRG Energy from $29.00 to $26.00 and set a buy rating on the stock in a report on Tuesday, April 11th. Williams Capital began coverage on shares of NRG Energy in a report on Thursday, June 1st. They issued a buy rating and a $20.00 price objective on the stock. Finally, BidaskClub upgraded shares of NRG Energy from a hold rating to a buy rating in a report on Tuesday, June 27th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $21.13.
Shares of NRG Energy (NYSE:NRG) opened at 24.25 on Tuesday. The stock has a 50 day moving average price of $20.56 and a 200 day moving average price of $17.81. The firm’s market capitalization is $7.66 billion. NRG Energy has a 52 week low of $9.84 and a 52 week high of $25.43.
NRG Energy (NYSE:NRG) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.31. NRG Energy had a negative net margin of 10.67% and a positive return on equity of 12.38%. The firm had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same period in the prior year, the company earned ($0.61) EPS. The firm’s revenue was up 20.2% on a year-over-year basis. Equities analysts forecast that NRG Energy will post $0.77 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st will be paid a $0.03 dividend. The ex-dividend date is Friday, July 28th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.49%. NRG Energy’s dividend payout ratio (DPR) is presently -2.75%.
A number of large investors have recently added to or reduced their stakes in NRG. Vanguard Group Inc. raised its stake in NRG Energy by 1.7% in the first quarter. Vanguard Group Inc. now owns 33,215,788 shares of the utilities provider’s stock valued at $621,135,000 after buying an additional 556,447 shares during the period. BlackRock Inc. raised its stake in NRG Energy by 5,026.6% in the first quarter. BlackRock Inc. now owns 19,983,017 shares of the utilities provider’s stock valued at $373,684,000 after buying an additional 19,593,226 shares during the period. Elliott Management Corp raised its stake in NRG Energy by 313.1% in the first quarter. Elliott Management Corp now owns 18,073,606 shares of the utilities provider’s stock valued at $337,976,000 after buying an additional 13,698,367 shares during the period. Brahman Capital Corp. acquired a new stake in NRG Energy during the first quarter valued at $186,827,000. Finally, FMR LLC raised its stake in NRG Energy by 449.8% in the first quarter. FMR LLC now owns 6,986,918 shares of the utilities provider’s stock valued at $130,656,000 after buying an additional 5,716,029 shares during the period. Hedge funds and other institutional investors own 92.46% of the company’s stock.
About NRG Energy
NRG Energy, Inc (NRG) is an integrated power company. The Company is engaged in producing, selling and delivering electricity and related products and services in various markets in the United States. The Company’s segments include Generation, Retail, Renewables, NRG Yield, Inc (NRG Yield) and Corporate activities.
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