NRG Energy (NYSE:NRG) Trading Up 3.2%

NRG Energy, Inc. (NYSE:NRG)’s stock price shot up 3.2% during mid-day trading on Friday . The company traded as high as $84.41 and last traded at $84.41. 49,459 shares were traded during mid-day trading, a decline of 99% from the average session volume of 3,364,447 shares. The stock had previously closed at $81.83.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on NRG shares. Morgan Stanley upped their price target on shares of NRG Energy from $70.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 28th. Wells Fargo & Company upped their price target on NRG Energy from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. StockNews.com downgraded shares of NRG Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Finally, Jefferies Financial Group began coverage on shares of NRG Energy in a research note on Friday, September 13th. They set a “hold” rating and a $82.00 price target for the company. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, NRG Energy currently has a consensus rating of “Hold” and an average target price of $73.75.

NRG Energy Stock Up 3.2 %

The company has a market capitalization of $17.61 billion, a P/E ratio of 11.86 and a beta of 1.10. The company has a quick ratio of 1.11, a current ratio of 1.18 and a debt-to-equity ratio of 3.51. The firm has a fifty day simple moving average of $78.46 and a 200-day simple moving average of $76.11.

NRG Energy (NYSE:NRG) last posted its earnings results on Thursday, August 8th. The utilities provider reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $1.82. NRG Energy had a return on equity of 43.69% and a net margin of 7.19%. The business had revenue of $6.66 billion during the quarter, compared to analysts’ expectations of $8.32 billion. During the same period in the prior year, the business earned $1.10 EPS. NRG Energy’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities research analysts expect that NRG Energy, Inc. will post 4.45 EPS for the current fiscal year.

NRG Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were given a $0.4075 dividend. The ex-dividend date was Thursday, August 1st. This represents a $1.63 annualized dividend and a yield of 1.93%. NRG Energy’s dividend payout ratio is currently 23.09%.

Insiders Place Their Bets

In related news, insider Rasesh M. Patel sold 102,603 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $80.35, for a total transaction of $8,244,151.05. Following the completion of the transaction, the insider now directly owns 163,680 shares in the company, valued at $13,151,688. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On NRG Energy

Several hedge funds have recently made changes to their positions in the business. LifeSteps Financial Inc. acquired a new position in shares of NRG Energy during the 1st quarter worth approximately $31,000. Rothschild Investment LLC bought a new stake in NRG Energy in the 2nd quarter valued at about $32,000. Mather Group LLC. bought a new stake in NRG Energy in the 1st quarter valued at about $33,000. First Horizon Advisors Inc. boosted its holdings in NRG Energy by 76.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 191 shares during the period. Finally, Crewe Advisors LLC bought a new stake in shares of NRG Energy during the 1st quarter worth approximately $36,000. 97.72% of the stock is owned by institutional investors.

About NRG Energy

NRG Energy, Inc, together with its subsidiaries, operates as an energy and home services company in the United States and Canada. It operates through Texas; East; West/Services/Other; Vivint Smart Home; and Corporate Activities segments. The company produces and sells electricity generated using coal, oil, solar, and battery storage; natural gas; and a cloud-based home platform, including hardware, software, sales, installation, customer service, technical support, and professional monitoring solutions.