NRG Energy (NYSE:NRG) PT Raised to $63.00 at Morgan Stanley

NRG Energy (NYSE:NRG) had its price objective lifted by analysts at Morgan Stanley from $51.00 to $63.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s target price suggests a potential downside of 5.42% from the stock’s current price.

NRG has been the subject of a number of other research reports. BMO Capital Markets lifted their target price on shares of NRG Energy from $58.00 to $59.00 and gave the company a “market perform” rating in a research note on Thursday, February 29th. Wells Fargo & Company boosted their price objective on NRG Energy from $78.00 to $85.00 and gave the stock an “overweight” rating in a research note on Monday. TheStreet upgraded NRG Energy from a “c+” rating to a “b” rating in a research note on Friday, December 29th. StockNews.com upgraded shares of NRG Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Finally, Citigroup raised 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. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $59.50.

NRG Energy Stock Performance

Shares of NYSE:NRG opened at $66.61 on Tuesday. The stock has a market capitalization of $14.30 billion, a price-to-earnings ratio of -62.25, a price-to-earnings-growth ratio of 0.32 and a beta of 1.11. The business’s fifty day moving average price is $56.86 and its two-hundred day moving average price is $49.19. NRG Energy has a fifty-two week low of $30.52 and a fifty-two week high of $68.57. The company has a debt-to-equity ratio of 4.49, a current ratio of 1.02 and a quick ratio of 0.96.

NRG Energy (NYSE:NRG) last posted its earnings results on Wednesday, February 28th. The utilities provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.20. NRG Energy had a negative net margin of 0.70% and a positive return on equity of 44.03%. The business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $7.51 billion. As a group, analysts predict that NRG Energy will post 5.66 EPS for the current fiscal year.

Insider Transactions at NRG Energy

In other NRG Energy news, VP Rasesh M. Patel sold 49,092 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $62.59, for a total transaction of $3,072,668.28. Following the completion of the sale, the vice president now owns 356,962 shares in the company, valued at approximately $22,342,251.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.86% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NRG Energy

Institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP grew its holdings in NRG Energy by 486.2% during the third quarter. Wellington Management Group LLP now owns 900,526 shares of the utilities provider’s stock valued at $34,688,000 after purchasing an additional 746,899 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of NRG Energy by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,729,390 shares of the utilities provider’s stock valued at $220,696,000 after buying an additional 156,974 shares in the last quarter. SG Americas Securities LLC raised its stake in NRG Energy by 14,547.8% during the 4th quarter. SG Americas Securities LLC now owns 515,310 shares of the utilities provider’s stock worth $26,642,000 after buying an additional 511,792 shares during the period. Envestnet Portfolio Solutions Inc. bought a new position in NRG Energy during the third quarter worth about $2,429,000. Finally, Covalis Capital LLP grew its stake in NRG Energy by 23.5% in the third quarter. Covalis Capital LLP now owns 506,554 shares of the utilities provider’s stock valued at $19,512,000 after acquiring an additional 96,386 shares during the period. 97.72% of the stock is currently owned by institutional investors and hedge funds.

About NRG Energy

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.