NRG Energy (NYSE:NRG) Lifted to “Buy” at StockNews.com

NRG Energy (NYSE:NRG) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

A number of other equities analysts have also recently commented on the stock. BMO Capital Markets lifted their target price on shares of NRG Energy from $73.00 to $82.00 and gave the company a “market perform” rating in a report on Wednesday, May 8th. Wells Fargo & Company lifted their price objective on shares of NRG Energy from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th. Finally, Morgan Stanley lifted their price objective on shares of NRG Energy from $70.00 to $83.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 28th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, NRG Energy presently has an average rating of “Moderate Buy” and a consensus target price of $71.14.

NRG Energy Stock Performance

Shares of NRG Energy stock opened at $83.50 on Friday. The firm’s fifty day simple moving average is $77.87 and its 200-day simple moving average is $72.40. The stock has a market capitalization of $17.41 billion, a price-to-earnings ratio of 11.83 and a beta of 1.08. NRG Energy has a 12 month low of $36.61 and a 12 month high of $87.58. The company has a debt-to-equity ratio of 3.61, a current ratio of 1.01 and a quick ratio of 0.95.

NRG Energy (NYSE:NRG) last announced its earnings results on Thursday, August 8th. The utilities provider reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $1.82. The business had revenue of $6.66 billion for the quarter, compared to analysts’ expectations of $8.32 billion. NRG Energy had a net margin of 5.76% and a return on equity of 42.60%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.10 EPS. As a group, equities analysts forecast that NRG Energy will post 4.47 earnings per share for the current year.

Institutional Investors Weigh In On NRG Energy

Several institutional investors have recently made changes to their positions in NRG. International Assets Investment Management LLC boosted its position in shares of NRG Energy by 1,398.1% during the 4th quarter. International Assets Investment Management LLC now owns 21,034 shares of the utilities provider’s stock worth $1,087,000 after purchasing an additional 19,630 shares in the last quarter. Cerity Partners LLC purchased a new stake in shares of NRG Energy during the 4th quarter worth $317,000. Louisiana State Employees Retirement System purchased a new stake in shares of NRG Energy during the 4th quarter worth $708,000. abrdn plc boosted its position in shares of NRG Energy by 71.6% during the 4th quarter. abrdn plc now owns 96,473 shares of the utilities provider’s stock worth $4,988,000 after purchasing an additional 40,267 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of NRG Energy by 6.9% during the 4th quarter. Signaturefd LLC now owns 4,174 shares of the utilities provider’s stock worth $216,000 after purchasing an additional 271 shares in the last quarter. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

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.