SunTrust Banks, Inc. reissued their hold rating on shares of NRG Energy, Inc. (NYSE:NRG) in a research report report published on Friday, October 20th. SunTrust Banks, Inc. currently has a $25.00 price target on the utilities provider’s stock.
NRG has been the topic of several other research reports. BidaskClub upgraded shares of NRG Energy from a hold rating to a buy rating in a report on Tuesday, June 27th. Zacks Investment Research upgraded shares of NRG Energy from a hold rating to a buy rating and set a $27.00 price objective on the stock in a report on Tuesday, September 12th. Barclays PLC reiterated an overweight rating and issued a $27.00 target price on shares of NRG Energy in a research note on Thursday, July 13th. They noted that the move was a valuation call. Finally, ValuEngine upgraded shares of NRG Energy from a buy rating to a strong-buy rating in a research note on Thursday, July 6th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. NRG Energy has a consensus rating of Buy and an average target price of $24.67.
Shares of NRG Energy (NRG) opened at 25.34 on Friday. The firm’s market capitalization is $8.02 billion. The stock’s 50 day moving average price is $24.90 and its 200 day moving average price is $21.04. NRG Energy has a 52 week low of $9.84 and a 52 week high of $26.68.
NRG Energy (NYSE:NRG) last released its earnings results on Thursday, August 3rd. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter in the previous year, the company earned ($0.61) EPS. NRG Energy’s quarterly revenue was up 20.2% compared to the same quarter last year. On average, analysts predict that NRG Energy will post $0.74 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Tuesday, October 31st. NRG Energy’s payout ratio is -2.75%.
Institutional investors have recently made changes to their positions in the company. 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 purchasing an additional 19,593,226 shares in the last quarter. Elliott Management Corp raised its stake in shares of NRG Energy by 8.4% during the second quarter. Elliott Management Corp now owns 19,600,000 shares of the utilities provider’s stock worth $337,512,000 after acquiring an additional 1,526,394 shares in the last quarter. FMR LLC raised its stake in shares of NRG Energy by 8.6% during the second quarter. FMR LLC now owns 7,584,875 shares of the utilities provider’s stock worth $130,612,000 after acquiring an additional 597,957 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of NRG Energy by 38.6% during the second quarter. Dimensional Fund Advisors LP now owns 6,369,761 shares of the utilities provider’s stock worth $109,682,000 after acquiring an additional 1,772,966 shares in the last quarter. Finally, Permian Investment Partners LP raised its stake in shares of NRG Energy by 51.0% during the second quarter. Permian Investment Partners LP now owns 5,938,024 shares of the utilities provider’s stock worth $102,253,000 after acquiring an additional 2,005,094 shares in the last quarter. 91.61% of the stock is currently owned by hedge funds and other institutional investors.
NRG Energy Company Profile
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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