Jefferies Group Increases NRG Energy Price Target to $39.00 (NRG)
Equities research analysts at Jefferies Group hoisted their target price on shares of NRG Energy (NYSE:NRG) from $36.00 to $39.00 in a research note issued to investors on Wednesday, American Banking & Market News reports. Jefferies Group’s price target points to a potential upside of 14.34% from the stock’s previous close.
NRG Energy (NYSE:NRG) opened at 34.11 on Wednesday. NRG Energy has a 1-year low of $24.86 and a 1-year high of $35.15. The stock has a 50-day moving average of $32.48 and a 200-day moving average of $29.29. The company’s market cap is $11.503 billion. NRG Energy also was the target of a large drop in short interest in April. As of April 15th, there was short interest totalling 11,841,164 shares, a drop of 24.8% from the March 31st total of 15,748,128 shares. Based on an average trading volume of 4,421,006 shares, the days-to-cover ratio is presently 2.7 days. Approximately 3.7% of the shares of the stock are short sold.
NRG Energy (NYSE:NRG) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by $0.05. The company had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the company posted ($1.02) earnings per share. The company’s revenue for the quarter was up 67.5% on a year-over-year basis. Analysts expect that NRG Energy will post $2.05 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, May 15th. Stockholders of record on Thursday, May 1st will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Tuesday, April 29th. This is a boost from NRG Energy’s previous quarterly dividend of $0.12.
Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of NRG Energy from a “sell” rating to a “buy” rating in a research note on Friday, April 11th. Separately, analysts at UBS AG raised their price target on shares of NRG Energy from $30.00 to $39.00 in a research note on Wednesday, April 9th. They now have a “buy” rating on the stock. Finally, analysts at Macquarie raised their price target on shares of NRG Energy from $33.00 to $34.00 in a research note on Friday, April 4th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $35.88.
NRG Energy, Inc (NYSE:NRG) is an integrated wholesale power generation and retail electricity company in the United States.
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