NRG Energy (NYSE:NRG) Announces Earnings Results

Posted by Mickey Rousseau on Aug 6th, 2022

NRG Energy (NYSE:NRG – Get Rating) posted its earnings results on Thursday. The utilities provider reported $2.16 EPS for the quarter, topping the consensus estimate of $0.80 by $1.36, Briefing.com reports. The firm had revenue of $7.28 billion during the quarter, compared to analysts’ expectations of $5.27 billion. NRG Energy had a net margin of 11.93% and a return on equity of 33.75%. NRG Energy’s quarterly revenue was up 38.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.20 EPS.

NRG Energy Stock Down 1.7 %

Shares of NRG stock traded down $0.68 during trading on Friday, hitting $38.46. 3,853,750 shares of the company were exchanged, compared to its average volume of 3,348,650. The firm has a market capitalization of $9.13 billion, a price-to-earnings ratio of 2.71, a P/E/G ratio of 0.46 and a beta of 0.88. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.35 and a current ratio of 1.29. The business’s 50-day simple moving average is $39.06 and its 200 day simple moving average is $39.31. NRG Energy has a twelve month low of $34.70 and a twelve month high of $47.82.

NRG Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Monday, August 1st will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, July 29th. This represents a $1.40 annualized dividend and a yield of 3.64%. NRG Energy’s dividend payout ratio (DPR) is presently 9.87%.

Institutional Investors Weigh In On NRG Energy

Institutional investors have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. raised its stake in shares of NRG Energy by 6.5% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 39,743 shares of the utilities provider’s stock worth $1,525,000 after purchasing an additional 2,422 shares in the last quarter. US Bancorp DE grew its position in NRG Energy by 12.7% in the first quarter. US Bancorp DE now owns 15,350 shares of the utilities provider’s stock worth $589,000 after acquiring an additional 1,727 shares in the last quarter. Rhumbline Advisers increased its stake in shares of NRG Energy by 6.2% during the 1st quarter. Rhumbline Advisers now owns 427,433 shares of the utilities provider’s stock worth $16,396,000 after purchasing an additional 24,792 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of NRG Energy by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,760 shares of the utilities provider’s stock valued at $1,257,000 after purchasing an additional 2,028 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its holdings in NRG Energy by 6.8% in the first quarter. Great West Life Assurance Co. Can now owns 229,581 shares of the utilities provider’s stock worth $9,243,000 after purchasing an additional 14,574 shares in the last quarter. Institutional investors and hedge funds own 97.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Morgan Stanley boosted their target price on NRG Energy from $44.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, July 21st. Bank of America lowered NRG Energy from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $43.00 to $42.00 in a research report on Tuesday, June 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $43.00.

NRG Energy Company Profile

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NRG Energy, Inc, together with its subsidiaries, operates as an integrated power company in the United States. It operates through Texas, East, and West. The company is involved in the producing, selling, and delivering electricity and related products and services to approximately 6 million residential, commercial, industrial, and wholesale customers.