Equities researchers at Bank of America Corporation started coverage on shares of NRG Energy, Inc. (NYSE:NRG) in a research note issued on Tuesday, October 24th, Marketbeat reports. The brokerage set a “buy” rating and a $31.00 price target on the utilities provider’s stock. Bank of America Corporation’s price objective points to a potential upside of 9.35% from the stock’s previous close.
A number of other equities research analysts have also weighed in on the company. SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $25.00 price objective on shares of NRG Energy in a report on Friday, October 20th. Zacks Investment Research lowered NRG Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 17th. BidaskClub raised NRG Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 16th. Barclays PLC reissued an “overweight” rating and set a $27.00 price target 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 NRG Energy from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $24.67.
NRG Energy (NYSE NRG) opened at $28.35 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 1.11 and a debt-to-equity ratio of 4.24. NRG Energy has a twelve month low of $10.75 and a twelve month high of $28.67. The stock has a market capitalization of $8,976.80, a PE ratio of 21.00 and a beta of 1.25.
NRG Energy (NYSE:NRG) last announced its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.12 by ($0.51). NRG Energy had a negative net margin of 13.48% and a positive return on equity of 8.82%. The business had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same period in the prior year, the firm posted $1.27 EPS. NRG Energy’s revenue for the quarter was down 10.9% compared to the same quarter last year.
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In other news, Director Barry T. Smitherman acquired 2,541 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was bought at an average cost of $28.38 per share, with a total value of $72,113.58. Following the transaction, the director now directly owns 49,000 shares in the company, valued at approximately $1,390,620. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.31% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Aviva PLC raised its stake in NRG Energy by 5.5% during the second quarter. Aviva PLC now owns 196,771 shares of the utilities provider’s stock worth $3,388,000 after acquiring an additional 10,240 shares during the period. Arizona State Retirement System raised its stake in NRG Energy by 0.3% during the second quarter. Arizona State Retirement System now owns 78,400 shares of the utilities provider’s stock worth $1,350,000 after acquiring an additional 200 shares during the period. SG Americas Securities LLC raised its stake in NRG Energy by 694.4% during the second quarter. SG Americas Securities LLC now owns 73,240 shares of the utilities provider’s stock worth $1,261,000 after acquiring an additional 64,020 shares during the period. Elliott Management Corp increased its stake in shares of NRG Energy by 8.4% in the second quarter. Elliott Management Corp now owns 19,600,000 shares of the utilities provider’s stock valued at $337,512,000 after purchasing an additional 1,526,394 shares during the period. Finally, Dorsey Wright & Associates acquired a new stake in shares of NRG Energy in the second quarter valued at approximately $2,199,000. Institutional investors and hedge funds own 92.21% of the company’s stock.
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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