NRG Energy, Inc. Plans Quarterly Dividend of $0.44 (NYSE:NRG)

NRG Energy, Inc. (NYSE:NRG - Get Free Report) announced a quarterly dividend on Wednesday, April 9th, Wall Street Journal reports. Stockholders of record on Thursday, May 1st will be given a dividend of 0.44 per share by the utilities provider on Thursday, May 15th. This represents a $1.76 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Thursday, May 1st.

NRG Energy has decreased its dividend payment by an average of 2.7% per year over the last three years. NRG Energy has a payout ratio of 21.6% meaning its dividend is sufficiently covered by earnings. Analysts expect NRG Energy to earn $9.78 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 18.0%.

NRG Energy Stock Performance

Shares of NRG traded up $1.55 during mid-day trading on Friday, hitting $94.44. 1,634,898 shares of the company's stock were exchanged, compared to its average volume of 3,071,810. The business's 50 day moving average is $98.83 and its two-hundred day moving average is $96.42. NRG Energy has a fifty-two week low of $65.11 and a fifty-two week high of $117.26. The firm has a market capitalization of $19.23 billion, a P/E ratio of 23.73, a P/E/G ratio of 1.01 and a beta of 1.10. The company has a current ratio of 1.17, a quick ratio of 1.10 and a debt-to-equity ratio of 5.57.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NRG shares. The Goldman Sachs Group initiated coverage on shares of NRG Energy in a research note on Friday, April 4th. They set a "buy" rating and a $129.00 price target on the stock. StockNews.com cut shares of NRG Energy from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. BMO Capital Markets lifted their price target on shares of NRG Energy from $100.00 to $115.00 and gave the stock a "market perform" rating in a report on Monday, March 3rd. Guggenheim upped their target price on NRG Energy from $134.00 to $145.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Finally, Morgan Stanley increased their target price on NRG Energy from $86.00 to $99.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $124.00.

Remove Ads

Insiders Place Their Bets

In related news, CFO Bruce Chung sold 20,000 shares of NRG Energy stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $97.63, for a total value of $1,952,600.00. Following the completion of the transaction, the chief financial officer now directly owns 69,454 shares in the company, valued at approximately $6,780,794.02. This trade represents a 22.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.61% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NRG Energy

An institutional investor recently raised its position in NRG Energy stock. Brighton Jones LLC lifted its holdings in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 41.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,187 shares of the utilities provider's stock after buying an additional 1,528 shares during the period. Brighton Jones LLC's holdings in NRG Energy were worth $468,000 at the end of the most recent reporting period. 97.72% of the stock is owned by institutional investors and hedge funds.

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.