NRG Energy (NYSE:NRG) Price Target Raised to $49.00

NRG Energy (NYSE:NRG) had its price target boosted by BMO Capital Markets from $46.00 to $49.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ price target would suggest a potential upside of 7.79% from the company’s previous close.

NRG has been the subject of a number of other research reports. Morgan Stanley raised their price target on shares of NRG Energy from $40.00 to $41.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 25th. StockNews.com upgraded NRG Energy from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. Guggenheim upgraded NRG Energy from a “neutral” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Wednesday, November 1st. Finally, UBS Group upgraded NRG Energy from a “sell” rating to a “neutral” rating and upped their target price for the company from $33.00 to $46.00 in a research report on Monday, November 6th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $46.40.

NRG Energy Stock Down 3.9 %

Shares of NRG traded down $1.83 during mid-day trading on Tuesday, hitting $45.46. 1,826,229 shares of the company traded hands, compared to its average volume of 4,114,140. The business has a 50 day moving average of $41.63 and a 200 day moving average of $37.94. The company has a market capitalization of $10.26 billion, a PE ratio of -5.89, a price-to-earnings-growth ratio of 0.69 and a beta of 0.99. The company has a quick ratio of 0.99, a current ratio of 1.06 and a debt-to-equity ratio of 3.75. NRG Energy has a 1-year low of $30.25 and a 1-year high of $48.58.

Institutional Investors Weigh In On NRG Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning increased its holdings in NRG Energy by 78.9% in the second quarter. Creative Planning now owns 25,958 shares of the utilities provider’s stock valued at $971,000 after buying an additional 11,447 shares in the last quarter. Mackenzie Financial Corp raised its holdings in NRG Energy by 6.8% in the 2nd quarter. Mackenzie Financial Corp now owns 466,621 shares of the utilities provider’s stock worth $17,554,000 after purchasing an additional 29,852 shares during the period. Allspring Global Investments Holdings LLC boosted its position in NRG Energy by 97.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 48,848 shares of the utilities provider’s stock worth $1,826,000 after purchasing an additional 24,083 shares in the last quarter. Tocqueville Asset Management L.P. acquired a new stake in NRG Energy in the first quarter valued at approximately $206,000. Finally, Bessemer Group Inc. increased its position in shares of NRG Energy by 18.7% in the first quarter. Bessemer Group Inc. now owns 4,444 shares of the utilities provider’s stock valued at $153,000 after buying an additional 700 shares in the last quarter. Institutional investors and hedge funds own 97.72% 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. It operates through Texas, East, and West segments. The company is involved in producing and selling electricity and related products and services to approximately residential, commercial, industrial, and wholesale customers.