NRG Energy (NYSE:NRG) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.
Several other brokerages have also issued reports on NRG. Citigroup lowered shares of NRG Energy from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research note on Monday, July 30th. Zacks Investment Research upgraded shares of NRG Energy from a “hold” rating to a “strong-buy” rating and set a $35.00 price target on the stock in a research note on Monday, July 9th. Macquarie lifted their price target on shares of NRG Energy from $40.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, September 20th. SunTrust Banks boosted their price objective on shares of NRG Energy from $35.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, October 29th. Finally, Bank of America boosted their price objective on shares of NRG Energy from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, September 27th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $38.17.
NRG stock traded up $0.35 during midday trading on Thursday, hitting $37.42. The company’s stock had a trading volume of 3,695,897 shares, compared to its average volume of 3,809,646. The company has a current ratio of 1.30, a quick ratio of 1.17 and a debt-to-equity ratio of 7.16. NRG Energy has a twelve month low of $23.75 and a twelve month high of $38.25. The firm has a market capitalization of $10.98 billion, a P/E ratio of 34.33 and a beta of 0.99.
NRG Energy (NYSE:NRG) last issued its quarterly earnings results on Thursday, August 2nd. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.55). NRG Energy had a negative net margin of 9.30% and a positive return on equity of 29.44%. The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.72 billion. During the same quarter in the previous year, the firm posted $0.36 earnings per share. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, equities research analysts forecast that NRG Energy will post 2.5 EPS for the current fiscal year.
In other news, EVP Christopher Moser sold 15,200 shares of the business’s stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $35.14, for a total transaction of $534,128.00. Following the transaction, the executive vice president now directly owns 115,650 shares in the company, valued at approximately $4,063,941. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP David Callen sold 9,200 shares of the business’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $33.21, for a total transaction of $305,532.00. Following the transaction, the senior vice president now owns 39,759 shares in the company, valued at $1,320,396.39. The disclosure for this sale can be found here. Insiders have sold a total of 92,975 shares of company stock worth $3,265,286 over the last 90 days. 0.38% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Guidant Wealth Advisors increased its stake in shares of NRG Energy by 9,972.7% during the 2nd quarter. Guidant Wealth Advisors now owns 2,216 shares of the utilities provider’s stock worth $109,000 after purchasing an additional 2,194 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in NRG Energy in the 2nd quarter valued at about $130,000. Harvest Fund Management Co. Ltd grew its stake in NRG Energy by 313.6% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 3,747 shares of the utilities provider’s stock valued at $115,000 after buying an additional 2,841 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new position in NRG Energy in the 3rd quarter valued at about $145,000. Finally, Cerebellum GP LLC acquired a new position in NRG Energy in the 2nd quarter valued at about $168,000. Institutional investors own 98.34% of the company’s stock.
About NRG Energy
NRG Energy, Inc, together with its subsidiaries, operates as an integrated power company in the United States. The company is involved in the generation of electricity using fossil fuel and nuclear sources. The company provides electricity to 2.9 million residential, commercial, and industrial consumers; system power, distributed generation, solar and wind products, backup generation, storage and distributed solar, demand response, energy efficiency, and on-site energy solutions; and carbon management and specialty services.
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