Morgan Stanley Issues Positive Forecast for NRG Energy (NYSE:NRG) Stock Price

NRG Energy (NYSE:NRG) had its price target raised by Morgan Stanley from $86.00 to $99.00 in a research report report published on Wednesday,Benzinga reports. The brokerage currently has an equal weight rating on the utilities provider’s stock.

A number of other brokerages have also recently weighed in on NRG. BMO Capital Markets increased their target price on shares of NRG Energy from $94.00 to $100.00 and gave the stock a “market perform” rating in a report on Tuesday, November 19th. Jefferies Financial Group raised shares of NRG Energy from a “hold” rating to a “buy” rating and increased their target price for the stock from $93.00 to $113.00 in a report on Tuesday, November 26th. Citigroup increased their price objective on shares of NRG Energy from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Evercore ISI raised shares of NRG Energy from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $74.00 to $126.00 in a report on Tuesday, January 21st. Finally, Wells Fargo & Company increased their price objective on shares of NRG Energy from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, NRG Energy has an average rating of “Moderate Buy” and a consensus price target of $113.71.

NRG Energy Stock Up 0.3 %

Shares of NYSE:NRG opened at $112.26 on Wednesday. The stock has a market capitalization of $22.74 billion, a price-to-earnings ratio of 28.21, a price-to-earnings-growth ratio of 1.27 and a beta of 1.15. NRG Energy has a 1-year low of $51.42 and a 1-year high of $115.38. The company’s fifty day moving average is $100.05 and its two-hundred day moving average is $92.21. The company has a debt-to-equity ratio of 5.57, a quick ratio of 1.10 and a current ratio of 1.17.

NRG Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were issued a $0.44 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost from NRG Energy’s previous quarterly dividend of $0.41. This represents a $1.76 annualized dividend and a dividend yield of 1.57%. NRG Energy’s dividend payout ratio (DPR) is 44.22%.

Insider Buying and Selling

In other news, CFO Bruce Chung sold 20,000 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $97.63, for a total transaction of $1,952,600.00. Following the completion of the transaction, the chief financial officer now owns 69,454 shares in the company, valued at approximately $6,780,794.02. This trade represents a 22.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Robert J. Gaudette sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $91.41, for a total transaction of $5,484,600.00. Following the completion of the sale, the vice president now owns 64,448 shares in the company, valued at $5,891,191.68. The trade was a 48.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new position in shares of NRG Energy in the 3rd quarter worth $26,000. Covestor Ltd increased its stake in NRG Energy by 74.7% in the 3rd quarter. Covestor Ltd now owns 325 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 139 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in NRG Energy during the 4th quarter worth about $32,000. Harbor Capital Advisors Inc. purchased a new stake in NRG Energy during the third quarter valued at about $35,000. Finally, Mizuho Bank Ltd. acquired a new position in shares of NRG Energy in the fourth quarter worth about $41,000. Institutional investors own 97.72% of the company’s stock.

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.