NRG Energy (NYSE:NRG) Price Target Raised to $130.00

NRG Energy (NYSE:NRG) had its price target hoisted by Wells Fargo & Company from $120.00 to $130.00 in a report published on Wednesday, Benzinga reports. The firm currently has an overweight rating on the utilities provider’s stock.

Several other brokerages have also commented on NRG. Guggenheim upped their price objective on shares of NRG Energy from $77.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. BMO Capital Markets increased their price target on shares of NRG Energy from $90.00 to $94.00 and gave the stock a “market perform” rating in a research note on Tuesday. Jefferies Financial Group assumed coverage on shares of NRG Energy in a research note on Friday, September 13th. They issued a “hold” rating and a $82.00 price target for the company. Finally, StockNews.com lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, NRG Energy presently has an average rating of “Hold” and a consensus target price of $89.75.

NRG Energy Trading Down 3.6 %

NYSE:NRG opened at $86.72 on Wednesday. The company has a fifty day moving average of $86.24 and a 200 day moving average of $80.95. NRG Energy has a 52 week low of $41.73 and a 52 week high of $96.40. The company has a quick ratio of 1.11, a current ratio of 1.18 and a debt-to-equity ratio of 3.51. The firm has a market capitalization of $17.90 billion, a P/E ratio of 9.45 and a beta of 1.10.

NRG Energy (NYSE:NRG) last issued its quarterly earnings data on Thursday, August 8th. The utilities provider reported $3.37 EPS for the quarter, topping the consensus estimate of $1.55 by $1.82. NRG Energy had a net margin of 7.19% and a return on equity of 43.69%. The business had revenue of $6.66 billion during the quarter, compared to analyst estimates of $8.32 billion. During the same period in the prior year, the business earned $1.10 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, research analysts predict that NRG Energy will post 6.09 earnings per share for the current year.

NRG Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Friday, November 1st. NRG Energy’s dividend payout ratio (DPR) is 17.76%.

Insider Activity at NRG Energy

In other news, insider Rasesh M. Patel sold 102,603 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 163,680 shares of the company’s stock, valued at $13,151,688. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.86% of the stock is currently owned by insiders.

Institutional Trading of NRG Energy

A number of institutional investors have recently made changes to their positions in NRG. Covestor Ltd grew its holdings in shares of NRG Energy by 74.7% in the third quarter. Covestor Ltd now owns 325 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 139 shares in the last quarter. Atria Investments Inc grew its holdings in shares of NRG Energy by 62.9% in the third quarter. Atria Investments Inc now owns 15,072 shares of the utilities provider’s stock valued at $1,373,000 after purchasing an additional 5,819 shares in the last quarter. Assetmark Inc. grew its holdings in shares of NRG Energy by 109.2% in the third quarter. Assetmark Inc. now owns 746,994 shares of the utilities provider’s stock valued at $68,051,000 after purchasing an additional 389,997 shares in the last quarter. Galvin Gaustad & Stein LLC purchased a new position in shares of NRG Energy in the third quarter valued at $203,000. Finally, Hollencrest Capital Management grew its holdings in shares of NRG Energy by 30,428.6% in the third quarter. Hollencrest Capital Management now owns 10,685 shares of the utilities provider’s stock valued at $973,000 after purchasing an additional 10,650 shares in the last quarter. Hedge funds and other 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.