NRG Energy (NYSE:NRG - Get Free Report) had its price objective lifted by analysts at Wells Fargo & Company from $120.00 to $130.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an "overweight" rating on the utilities provider's stock. Wells Fargo & Company's price objective would indicate a potential upside of 46.98% from the company's previous close.
A number of other research analysts have also recently commented on NRG. StockNews.com cut NRG Energy from a "buy" rating to a "hold" rating in a research note on Monday, September 2nd. Guggenheim increased their price objective on NRG Energy from $77.00 to $118.00 and gave the company a "buy" rating in a research report on Tuesday, October 8th. Jefferies Financial Group assumed coverage on NRG Energy in a research report on Friday, September 13th. They issued a "hold" rating and a $82.00 target price for the company. Finally, BMO Capital Markets increased their price target on shares of NRG Energy from $90.00 to $94.00 and gave the company a "market perform" rating in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, NRG Energy has an average rating of "Hold" and an average price target of $85.00.
Read Our Latest Stock Report on NRG
NRG Energy Price Performance
NYSE NRG traded up $0.35 during trading on Wednesday, reaching $88.45. The company's stock had a trading volume of 2,137,470 shares, compared to its average volume of 3,292,656. The stock has a market capitalization of $18.25 billion, a PE ratio of 9.58 and a beta of 1.10. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.18 and a quick ratio of 1.11. The firm has a fifty day moving average of $85.89 and a 200 day moving average of $80.74. NRG Energy has a one year low of $41.57 and a one year high of $96.40.
NRG Energy (NYSE:NRG - Get Free Report) last announced its earnings results on Thursday, August 8th. The utilities provider reported $3.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.55 by $1.82. The business had revenue of $6.66 billion for the quarter, compared to the consensus estimate of $8.32 billion. NRG Energy had a net margin of 7.19% and a return on equity of 43.69%. NRG Energy's quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm posted $1.10 earnings per share. Analysts expect that NRG Energy will post 6.09 EPS for the current fiscal year.
Insider Activity at NRG Energy
In other NRG Energy news, insider Rasesh M. Patel sold 102,603 shares of the business's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $80.35, for a total value of $8,244,151.05. Following the transaction, the insider now owns 163,680 shares in the company, valued at approximately $13,151,688. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. Banco Santander S.A. purchased a new position in shares of NRG Energy during the second quarter valued at about $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 acquiring an additional 1,266,000 shares during the period. Russell Investments Group Ltd. raised its position in shares of NRG Energy by 11.1% in the 1st quarter. Russell Investments Group Ltd. now owns 1,610,562 shares of the utilities provider's stock worth $109,007,000 after acquiring an additional 160,415 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of NRG Energy by 65.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,596,684 shares of the utilities provider's stock valued at $124,318,000 after purchasing an additional 633,765 shares during the period. Finally, Zimmer Partners LP bought a new stake in shares of NRG Energy during the first quarter valued at approximately $64,306,000. 97.72% of the stock is owned by hedge funds and other institutional investors.
About NRG Energy
(
Get Free Report)
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.
Further Reading
Before you consider NRG Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NRG Energy wasn't on the list.
While NRG Energy currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Click the link below to learn more about using beta to protect yourself.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
