NRG Energy (NYSE:NRG) Hits New 1-Year High at $93.21

NRG Energy, Inc. (NYSE:NRG)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $93.21 and last traded at $92.63, with a volume of 381636 shares changing hands. The stock had previously closed at $92.65.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NRG shares. BMO Capital Markets boosted their price target on NRG Energy from $88.00 to $90.00 and gave the company a “market perform” rating in a research report on Monday. StockNews.com downgraded NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Wells Fargo & Company lifted their price target on shares of NRG Energy from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. 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 objective for the company. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, NRG Energy presently has a consensus rating of “Hold” and a consensus price target of $74.75.

NRG Energy Stock Up 0.1 %

The firm has a 50 day moving average of $80.69 and a 200-day moving average of $77.92. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.18 and a quick ratio of 1.11. The stock has a market capitalization of $19.34 billion, a P/E ratio of 13.14 and a beta of 1.10.

NRG Energy (NYSE:NRG) last posted its earnings results on Thursday, August 8th. The utilities provider reported $3.37 EPS for the quarter, topping the consensus estimate of $1.55 by $1.82. The business had revenue of $6.66 billion during the quarter, compared to the consensus estimate of $8.32 billion. NRG Energy had a return on equity of 43.69% and a net margin of 7.19%. NRG Energy’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company earned $1.10 EPS. On average, equities research analysts expect that NRG Energy, Inc. will post 5.51 earnings per share for the current fiscal year.

NRG Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were issued a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date was Thursday, August 1st. NRG Energy’s dividend payout ratio is currently 23.09%.

Insider Transactions at NRG Energy

In other news, insider Rasesh M. Patel sold 102,603 shares of NRG Energy stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $80.35, for a total transaction of $8,244,151.05. Following the completion of the sale, the insider now owns 163,680 shares in the company, valued at approximately $13,151,688. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.86% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NRG Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gotham Asset Management LLC raised its holdings in shares of NRG Energy by 93.1% during the fourth quarter. Gotham Asset Management LLC now owns 357,618 shares of the utilities provider’s stock worth $18,489,000 after acquiring an additional 172,400 shares during the period. Allspring Global Investments Holdings LLC grew its position in NRG Energy by 885.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 237,444 shares of the utilities provider’s stock valued at $16,073,000 after purchasing an additional 213,347 shares in the last quarter. Quarry LP increased its stake in NRG Energy by 784.3% in the 4th quarter. Quarry LP now owns 10,912 shares of the utilities provider’s stock valued at $564,000 after buying an additional 9,678 shares during the last quarter. Quadrature Capital Ltd increased its position in shares of NRG Energy by 148.6% during the 1st quarter. Quadrature Capital Ltd now owns 21,814 shares of the utilities provider’s stock worth $1,477,000 after purchasing an additional 13,040 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in shares of NRG Energy by 104.5% during the 1st quarter. Cetera Investment Advisers now owns 73,865 shares of the utilities provider’s stock worth $5,000,000 after purchasing an additional 37,750 shares during the last quarter. Institutional investors own 97.72% of the company’s stock.

NRG Energy Company Profile

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.