NRG Energy (NYSE:NRG) Downgraded to Hold Rating by Zacks Research

NRG Energy (NYSE:NRG) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other analysts also recently weighed in on NRG. Weiss Ratings restated a “buy (b)” rating on shares of NRG Energy in a research note on Thursday. Scotiabank began coverage on NRG Energy in a research note on Monday, September 22nd. They issued a “sector outperform” rating and a $212.00 target price on the stock. Morgan Stanley cut their price objective on shares of NRG Energy from $145.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 28th. Citigroup lifted their target price on shares of NRG Energy from $133.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Finally, Melius Research initiated coverage on shares of NRG Energy in a research report on Wednesday, August 20th. They set a “buy” rating and a $308.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $198.31.

NRG Energy Stock Down 0.7%

Shares of NRG Energy stock traded down $1.08 during trading on Thursday, hitting $165.07. The company’s stock had a trading volume of 2,085,070 shares, compared to its average volume of 2,948,952. NRG Energy has a 52 week low of $79.57 and a 52 week high of $180.54. The company has a market capitalization of $31.63 billion, a PE ratio of 74.69 and a beta of 1.16. The company has a fifty day simple moving average of $166.26 and a two-hundred day simple moving average of $155.94. The company has a debt-to-equity ratio of 5.99, a quick ratio of 0.88 and a current ratio of 0.93.

NRG Energy (NYSE:NRG) last announced its quarterly earnings data on Thursday, November 6th. The utilities provider reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.85. NRG Energy had a net margin of 1.78% and a return on equity of 88.22%. The business had revenue of $7.64 billion for the quarter, compared to analysts’ expectations of $7.53 billion. During the same quarter in the prior year, the company earned $1.90 earnings per share. The business’s revenue was up 5.7% compared to the same quarter last year. Equities research analysts predict that NRG Energy will post 6.36 earnings per share for the current year.

NRG Energy announced that its board has approved a share repurchase program on Thursday, November 6th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the utilities provider to buy up to 9.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other news, VP Dak Liyanearachchi sold 10,672 shares of the firm’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $155.00, for a total value of $1,654,160.00. Following the transaction, the vice president directly owned 48,571 shares in the company, valued at $7,528,505. This trade represents a 18.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.86% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Quent Capital LLC bought a new position in shares of NRG Energy in the 3rd quarter worth approximately $25,000. Toth Financial Advisory Corp purchased a new stake in NRG Energy during the second quarter valued at approximately $27,000. Zions Bancorporation National Association UT purchased a new position in shares of NRG Energy during the 1st quarter worth $28,000. Bank of Jackson Hole Trust bought a new stake in shares of NRG Energy during the 2nd quarter valued at $28,000. Finally, Atlantic Union Bankshares Corp increased its stake in shares of NRG Energy by 90.4% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 179 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 85 shares in the last quarter. 97.72% of the stock is owned by hedge funds and other institutional investors.

NRG Energy Company Profile

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.