NRG Energy Inc. (NRG) Bond Prices Rise 2%
An issue of NRG Energy Inc. (NYSE:NRG) bonds rose 2% as a percentage of their face value during trading on Wednesday. The debt issue has a 6.625% coupon and is set to mature on March 15, 2023. The debt is now trading at $101.24 and was trading at $99.88 last week. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its share price.
Several brokerages have recently weighed in on NRG. Citigroup Inc. decreased their target price on shares of NRG Energy from $14.00 to $11.00 and set a “sell” rating for the company in a research note on Monday, September 12th. Zacks Investment Research downgraded shares of NRG Energy from a “buy” rating to a “hold” rating in a research note on Thursday, July 21st. TheStreet downgraded shares of NRG Energy from a “hold” rating to a “sell” rating in a research note on Thursday, September 8th. Deutsche Bank AG reiterated a “buy” rating and set a $21.00 target price on shares of NRG Energy in a research note on Wednesday, August 10th. Finally, Barclays PLC decreased their target price on shares of NRG Energy from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, August 10th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. NRG Energy currently has an average rating of “Hold” and an average price target of $19.76.
Shares of NRG Energy Inc. (NYSE:NRG) opened at 11.88 on Thursday. The firm’s market capitalization is $3.75 billion. The stock’s 50 day moving average is $12.29 and its 200-day moving average is $13.97. NRG Energy Inc. has a 52-week low of $8.80 and a 52-week high of $18.32.
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NRG Energy (NYSE:NRG) last released its earnings results on Tuesday, August 9th. The company reported ($0.61) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.76. The company earned $2.64 billion during the quarter, compared to the consensus estimate of $3.54 billion. NRG Energy had a positive return on equity of 3.12% and a negative net margin of 48.33%. NRG Energy’s revenue for the quarter was down 22.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.06) EPS. On average, equities analysts forecast that NRG Energy Inc. will post $0.95 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the company. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in NRG Energy during the second quarter valued at $191,000. Kentucky Retirement Systems acquired a new stake in shares of NRG Energy during the second quarter worth $401,000. Mason Street Advisors LLC acquired a new stake in shares of NRG Energy during the second quarter worth $636,000. Calvert Investment Management Inc. increased its stake in shares of NRG Energy by 0.4% in the second quarter. Calvert Investment Management Inc. now owns 73,592 shares of the company’s stock worth $1,103,000 after buying an additional 268 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of NRG Energy by 5.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,455,653 shares of the company’s stock worth $21,821,000 after buying an additional 70,820 shares in the last quarter. 96.18% of the stock is owned by institutional investors.
NRG Energy Company Profile
NRG Energy, Inc (NRG) is an integrated power company that produces, sells and delivers energy, and energy products and services in various power markets in the United States. The Company’s segments include NRG Business, which includes power generation, the carbon capture business and energy services; NRG Home, which includes NRG Home Retail, which consists of residential retail services and products, and NRG Home Solar, which includes the installation and leasing of residential solar services; NRG Renew, which includes solar and wind assets, excluding those in the NRG Yield and NRG Home Solar segments; NRG Yield, and corporate activities.
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