NRG Energy (NYSE:NRG) Sets New 12-Month High at $93.21

NRG Energy, Inc. (NYSE:NRG)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $93.21 and last traded at $92.63, with a volume of 381636 shares. The stock had previously closed at $92.65.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NRG. Wells Fargo & Company upped their target price on NRG Energy from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. BMO Capital Markets increased their price objective on NRG Energy from $88.00 to $90.00 and gave the stock a “market perform” rating in a research report on Monday. Jefferies Financial Group began coverage on NRG Energy in a research report on Friday, September 13th. They set a “hold” rating and a $82.00 price target on the stock. Finally, StockNews.com lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, NRG Energy currently has an average rating of “Hold” and a consensus price target of $74.75.

NRG Energy Stock Performance

The business has a fifty day moving average price of $80.69 and a 200-day moving average price of $77.92. The stock has a market capitalization of $19.34 billion, a P/E ratio of 13.14 and a beta of 1.10. The company has a quick ratio of 1.11, a current ratio of 1.18 and a debt-to-equity ratio of 3.51.

NRG Energy (NYSE:NRG) last announced its earnings results on Thursday, August 8th. The utilities provider reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $1.82. The business had revenue of $6.66 billion during the quarter, compared to analysts’ expectations of $8.32 billion. NRG Energy had a net margin of 7.19% and a return on equity of 43.69%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.10 earnings per share. On average, sell-side analysts expect that NRG Energy, Inc. will post 5.51 EPS for the current year.

NRG Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were paid a dividend of $0.4075 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.63 annualized dividend and a yield of 1.76%. NRG Energy’s payout ratio is currently 23.09%.

Insider Activity at NRG Energy

In related news, insider Rasesh M. Patel sold 102,603 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $80.35, for a total transaction of $8,244,151.05. Following the completion of the transaction, the insider now owns 163,680 shares in the company, valued at approximately $13,151,688. The transaction 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.

Hedge Funds Weigh In On NRG Energy

Large investors have recently made changes to their positions in the company. Banco Santander S.A. purchased a new stake in NRG Energy during the 2nd quarter worth approximately $217,671,000. Capitolis Liquid Global Markets LLC grew its holdings in shares of NRG Energy by 253.2% during the 1st quarter. Capitolis Liquid Global Markets LLC now owns 1,766,000 shares of the utilities provider’s stock worth $119,541,000 after purchasing an additional 1,266,000 shares during the period. Russell Investments Group Ltd. increased its position in shares of NRG Energy by 11.1% during the 1st quarter. Russell Investments Group Ltd. now owns 1,610,562 shares of the utilities provider’s stock worth $109,007,000 after purchasing an additional 160,415 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of NRG Energy by 65.8% during the second quarter. Assenagon Asset Management S.A. now owns 1,596,684 shares of the utilities provider’s stock worth $124,318,000 after purchasing an additional 633,765 shares in the last quarter. Finally, Zimmer Partners LP acquired a new position in NRG Energy during the 1st quarter worth $64,306,000. 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.