NRG Energy, Inc. (NRG) Receives Average Rating of “Buy” from Analysts
NRG Energy, Inc. (NYSE:NRG) has earned an average recommendation of “Buy” from the twelve analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $22.25.
A number of equities research analysts have weighed in on the company. BidaskClub raised NRG Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 16th. ValuEngine raised NRG Energy from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. Zacks Investment Research raised NRG Energy from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Tuesday, July 11th. Finally, Barclays PLC reissued an “overweight” rating and issued a $27.00 price target on shares of NRG Energy in a report on Thursday, July 13th. They noted that the move was a valuation call.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NRG. Vanguard Group Inc. raised its holdings in NRG Energy by 1.7% during the first quarter. Vanguard Group Inc. now owns 33,215,788 shares of the utilities provider’s stock worth $621,135,000 after purchasing an additional 556,447 shares during the last quarter. BlackRock Inc. boosted its position in NRG Energy by 5,026.6% during the first quarter. BlackRock Inc. now owns 19,983,017 shares of the utilities provider’s stock worth $373,684,000 after purchasing an additional 19,593,226 shares in the last quarter. Elliott Management Corp boosted its position in NRG Energy by 8.4% during the second quarter. Elliott Management Corp now owns 19,600,000 shares of the utilities provider’s stock worth $337,512,000 after purchasing an additional 1,526,394 shares in the last quarter. Brahman Capital Corp. purchased a new stake in NRG Energy during the first quarter worth $186,827,000. Finally, FMR LLC boosted its position in NRG Energy by 8.6% during the second quarter. FMR LLC now owns 7,584,875 shares of the utilities provider’s stock worth $130,612,000 after purchasing an additional 597,957 shares in the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.
Shares of NRG Energy (NYSE:NRG) traded down 0.46% during trading on Wednesday, hitting $25.77. The company had a trading volume of 6,803,925 shares. The firm’s market capitalization is $8.16 billion. NRG Energy has a 52-week low of $9.84 and a 52-week high of $26.25. The stock’s 50-day moving average is $24.64 and its 200 day moving average is $20.15.
NRG Energy (NYSE:NRG) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.31. The firm had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $3.19 billion. NRG Energy had a negative net margin of 10.67% and a positive return on equity of 12.38%. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.61) earnings per share. Equities research analysts predict that NRG Energy will post $0.34 earnings per share for the current fiscal year.
NRG Energy Company Profile
NRG Energy, Inc (NRG) is an integrated power company. The Company is engaged in producing, selling and delivering electricity and related products and services in various markets in the United States. The Company’s segments include Generation, Retail, Renewables, NRG Yield, Inc (NRG Yield) and Corporate activities.
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