NRG Energy (NYSE:NRG) Hits New 1-Year High Following Analyst Upgrade

NRG Energy, Inc. (NYSE:NRGGet Free Report) shares reached a new 52-week high during trading on Monday after Wells Fargo & Company raised their price target on the stock from $65.00 to $78.00. Wells Fargo & Company currently has an overweight rating on the stock. NRG Energy traded as high as $65.14 and last traded at $64.24, with a volume of 337429 shares traded. The stock had previously closed at $63.93.

NRG has been the subject of a number of other research reports. Citigroup upped their price objective on shares of NRG Energy from $52.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, March 1st. TheStreet raised NRG Energy from a “c+” rating to a “b” rating in a research report on Friday, December 29th. Evercore ISI lifted their price objective on shares of NRG Energy from $55.00 to $65.00 and gave the company an “in-line” rating in a report on Monday. BMO Capital Markets lifted their target price on NRG Energy from $58.00 to $59.00 and gave the company a “market perform” rating in a research report on Thursday, February 29th. Finally, StockNews.com upgraded NRG Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $55.88.

Check Out Our Latest Report on NRG

Insider Activity

In other news, VP Rasesh M. Patel sold 49,092 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $62.59, for a total value of $3,072,668.28. Following the completion of the sale, the vice president now owns 356,962 shares of the company’s stock, valued at $22,342,251.58. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.86% of the stock is owned by company insiders.

Institutional Investors Weigh In On NRG Energy

A number of large investors have recently added to or reduced their stakes in NRG. Savant Capital LLC lifted its position in shares of NRG Energy by 1.7% during the 4th quarter. Savant Capital LLC now owns 12,749 shares of the utilities provider’s stock valued at $659,000 after acquiring an additional 212 shares during the period. Blue Trust Inc. lifted its holdings in shares of NRG Energy by 35.4% during the 4th quarter. Blue Trust Inc. now owns 865 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 226 shares during the period. Point72 Hong Kong Ltd increased its stake in NRG Energy by 2.5% in the first quarter. Point72 Hong Kong Ltd now owns 9,537 shares of the utilities provider’s stock valued at $366,000 after acquiring an additional 231 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in NRG Energy by 2.5% during the fourth quarter. Crossmark Global Holdings Inc. now owns 10,603 shares of the utilities provider’s stock valued at $548,000 after purchasing an additional 263 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in NRG Energy by 1.5% during the third quarter. Teacher Retirement System of Texas now owns 17,828 shares of the utilities provider’s stock worth $687,000 after purchasing an additional 270 shares during the last quarter. Institutional investors and hedge funds own 97.72% of the company’s stock.

NRG Energy Stock Performance

The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 4.49. The stock has a fifty day simple moving average of $54.92 and a two-hundred day simple moving average of $48.06.

NRG Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st were paid a dividend of $0.4075 per share. This is an increase from NRG Energy’s previous quarterly dividend of $0.38. The ex-dividend date was Wednesday, January 31st. This represents a $1.63 annualized dividend and a yield of 2.45%. NRG Energy’s payout ratio is presently -152.34%.

NRG Energy Company Profile

(Get Free Report)

NRG Energy, Inc, together with its subsidiaries, operates as an energy and home services company in the United States and Canada. It operates through Texas; East; West/Services/Other; Vivint Smart Home; and Corporate Activities segments. The company produces and sells electricity generated using coal, oil, solar, and battery storage; natural gas; and a cloud-based home platform, including hardware, software, sales, installation, customer service, technical support, and professional monitoring solutions.

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