FY2024 EPS Estimates for NRG Energy, Inc. Lifted by Analyst (NYSE:NRG)

NRG Energy, Inc. (NYSE:NRG) – Equities research analysts at Seaport Res Ptn increased their FY2024 EPS estimates for shares of NRG Energy in a report issued on Sunday, April 14th. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will post earnings of $6.15 per share for the year, up from their prior forecast of $6.09. The consensus estimate for NRG Energy’s current full-year earnings is $5.39 per share. Seaport Res Ptn also issued estimates for NRG Energy’s FY2026 earnings at $8.18 EPS and FY2027 earnings at $9.72 EPS.

NRG Energy (NYSE:NRG) last released its quarterly earnings results on Wednesday, February 28th. The utilities provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $7.51 billion.

A number of other brokerages have also recently issued reports on NRG. TheStreet raised shares of NRG Energy from a “c+” rating to a “b” rating in a research note on Friday, December 29th. StockNews.com raised shares of NRG Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Morgan Stanley upped their price objective on shares of NRG Energy from $51.00 to $63.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 26th. Wells Fargo & Company upped their price objective on shares of NRG Energy from $78.00 to $85.00 and gave the company an “overweight” rating in a research note on Monday, March 25th. Finally, Evercore ISI upped their price objective on shares of NRG Energy from $55.00 to $65.00 and gave the company an “in-line” rating in a research note on Monday, March 18th. Five equities 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, the company currently has a consensus rating of “Hold” and an average target price of $59.50.

NRG Energy Price Performance

Shares of NRG Energy stock opened at $70.52 on Wednesday. NRG Energy has a 52-week low of $30.52 and a 52-week high of $76.54. The stock has a market capitalization of $15.14 billion, a price-to-earnings ratio of -65.91 and a beta of 1.13. The company has a fifty day moving average of $62.81 and a 200-day moving average of $52.79. The company has a debt-to-equity ratio of 4.49, a quick ratio of 0.96 and a current ratio of 1.02.

Institutional Trading of NRG Energy

Several institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in NRG Energy by 2.8% during 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 purchasing an additional 156,974 shares during the last quarter. Permian Investment Partners LP grew its position in NRG Energy by 1.4% during the 1st quarter. Permian Investment Partners LP now owns 5,326,801 shares of the utilities provider’s stock valued at $204,336,000 after purchasing an additional 73,000 shares during the last quarter. Geode Capital Management LLC grew its position in NRG Energy by 1.3% during the 1st quarter. Geode Capital Management LLC now owns 5,142,403 shares of the utilities provider’s stock valued at $177,483,000 after purchasing an additional 64,942 shares during the last quarter. Barclays PLC boosted its holdings in shares of NRG Energy by 25.7% during the 2nd quarter. Barclays PLC now owns 4,356,780 shares of the utilities provider’s stock valued at $162,899,000 after acquiring an additional 891,443 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of NRG Energy by 8.9% during the 3rd quarter. Northern Trust Corp now owns 2,401,396 shares of the utilities provider’s stock valued at $92,502,000 after acquiring an additional 197,122 shares during the last quarter. 97.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Rasesh M. Patel sold 49,092 shares of the 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 transaction, the vice president now directly owns 356,962 shares in the company, valued at approximately $22,342,251.58. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.86% of the stock is owned by company insiders.

NRG Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a $0.4075 dividend. This represents a $1.63 annualized dividend and a dividend yield of 2.31%. NRG Energy’s payout ratio is -152.34%.

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.