ValuEngine upgraded shares of NRG Energy (NYSE:NRG) from a strong sell rating to a sell rating in a research note issued to investors on Monday, November 4th, ValuEngine reports.
NRG has been the topic of a number of other research reports. Citigroup raised their price target on NRG Energy from $45.00 to $46.00 and gave the stock a buy rating in a research note on Friday, October 18th. Morgan Stanley upgraded NRG Energy from an equal weight rating to an overweight rating and raised their price target for the stock from $47.00 to $49.00 in a research note on Friday, September 6th. SunTrust Banks raised their price target on NRG Energy from $37.00 to $39.00 and gave the stock a hold rating in a research note on Tuesday, September 17th. Finally, Zacks Investment Research raised NRG Energy from a hold rating to a buy rating and set a $38.00 price objective for the company in a research report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $47.43.
NYSE NRG traded up $0.15 during trading hours on Monday, hitting $39.07. 3,246,294 shares of the company were exchanged, compared to its average volume of 3,101,922. The company has a 50 day moving average of $39.75 and a two-hundred day moving average of $36.90. NRG Energy has a 52-week low of $32.63 and a 52-week high of $43.66. The firm has a market cap of $9.83 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 0.21 and a beta of 0.79.
NRG Energy (NYSE:NRG) last released its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.22). NRG Energy had a net margin of 10.85% and a negative return on equity of 53.61%. The business had revenue of $3 billion during the quarter, compared to analysts’ expectations of $4.44 billion. During the same quarter in the previous year, the company posted $0.96 EPS. The company’s revenue was up 1.2% compared to the same quarter last year. Equities analysts expect that NRG Energy will post 4.85 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend was Thursday, October 31st. NRG Energy’s payout ratio is currently 4.98%.
In related news, CFO Kirkland B. Andrews sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $39.51, for a total value of $3,951,000.00. Following the completion of the transaction, the chief financial officer now directly owns 198,653 shares of the company’s stock, valued at approximately $7,848,780.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.56% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC increased its position in NRG Energy by 797.3% during the third quarter. Millennium Management LLC now owns 2,606,311 shares of the utilities provider’s stock worth $103,209,000 after buying an additional 2,315,844 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in NRG Energy by 431.3% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 2,049,142 shares of the utilities provider’s stock worth $71,966,000 after buying an additional 1,663,460 shares in the last quarter. Nuveen Asset Management LLC increased its position in NRG Energy by 1,143.3% during the second quarter. Nuveen Asset Management LLC now owns 1,527,626 shares of the utilities provider’s stock worth $53,650,000 after buying an additional 1,404,760 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in NRG Energy during the second quarter worth $24,844,000. Finally, Steadfast Capital Management LP increased its position in NRG Energy by 12.9% during the second quarter. Steadfast Capital Management LP now owns 5,786,082 shares of the utilities provider’s stock worth $203,207,000 after buying an additional 660,020 shares in the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.
NRG Energy Company Profile
NRG Energy, Inc, together with its subsidiaries, operates as an energy company in the United States. The company is involved in the producing, selling, and delivering electricity and related products and services to 3.1 million residential, industrial, and commercial consumers. It generates electricity using natural gas, coal, oil, solar, nuclear, wind, fossil fuel, and nuclear sources.
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