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

NRG Energy, Inc. (NYSE:NRGGet Free Report) shares reached a new 52-week high during mid-day trading on Monday after Wells Fargo & Company raised their price target on the stock from $78.00 to $85.00. Wells Fargo & Company currently has an overweight rating on the stock. NRG Energy traded as high as $68.30 and last traded at $67.77, with a volume of 168156 shares traded. The stock had previously closed at $67.17.

Several other research firms also recently commented on NRG. Evercore ISI increased their target price on NRG Energy from $55.00 to $65.00 and gave the company an “in-line” rating in a research report on Monday, March 18th. StockNews.com upgraded NRG Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. TheStreet raised NRG Energy from a “c+” rating to a “b” rating in a research note on Friday, December 29th. Citigroup raised their target price on NRG Energy from $52.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Finally, BMO Capital Markets raised their target price on NRG Energy from $58.00 to $59.00 and gave the stock a “market perform” rating in a research note on Thursday, February 29th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $56.75.

Read Our Latest Stock Analysis on NRG

Insider Buying and Selling at NRG Energy

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

Hedge Funds Weigh In On NRG Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NRG. Charles Schwab Investment Management Inc. grew its position in NRG Energy by 145.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,746,180 shares of the utilities provider’s stock worth $182,064,000 after buying an additional 2,812,434 shares in the last quarter. Voloridge Investment Management LLC boosted its holdings in shares of NRG Energy by 2,317.0% in the 4th quarter. Voloridge Investment Management LLC now owns 1,759,559 shares of the utilities provider’s stock worth $90,969,000 after purchasing an additional 1,686,761 shares in the last quarter. Natixis purchased a new position in shares of NRG Energy in the 2nd quarter worth about $59,850,000. Brandywine Global Investment Management LLC purchased a new position in shares of NRG Energy in the 1st quarter worth about $49,072,000. Finally, Hudson Bay Capital Management LP boosted its holdings in shares of NRG Energy by 326.7% in the 1st quarter. Hudson Bay Capital Management LP now owns 1,600,000 shares of the utilities provider’s stock worth $54,864,000 after purchasing an additional 1,225,000 shares in the last quarter. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

NRG Energy Price Performance

The business has a fifty day moving average price of $56.25 and a 200-day moving average price of $48.88. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 4.49. The stock has a market capitalization of $14.63 billion, a PE ratio of -63.67, a PEG ratio of 0.32 and a beta of 1.11.

NRG Energy (NYSE:NRGGet Free Report) last released its earnings results on Wednesday, February 28th. The utilities provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.20. NRG Energy had a positive return on equity of 44.03% and a negative net margin of 0.70%. The company had revenue of $6.81 billion during the quarter, compared to analyst estimates of $7.51 billion. Research analysts expect that NRG Energy, Inc. will post 5.69 EPS for the current fiscal year.

NRG Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st were paid a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Wednesday, January 31st. This is a positive change from NRG Energy’s previous quarterly dividend of $0.38. NRG Energy’s payout ratio is -152.34%.

About NRG Energy

(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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