NRG Energy, Inc. (NYSE:NRG) to Issue Quarterly Dividend of $0.03
NRG Energy, Inc. (NYSE:NRG) declared a quarterly dividend on Thursday, July 20th, RTT News reports. Stockholders of record on Tuesday, August 1st will be given a dividend of 0.03 per share by the utilities provider on Tuesday, August 15th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.50%.
NRG Energy has decreased its dividend by an average of 19.5% annually over the last three years. NRG Energy has a dividend payout ratio of 17.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect NRG Energy to earn $1.33 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 9.0%.
NRG Energy (NYSE NRG) traded up 0.46% on Thursday, hitting $24.11. 8,014,415 shares of the stock were exchanged. The stock’s market cap is $7.62 billion. The company has a 50-day moving average of $17.82 and a 200-day moving average of $16.94. NRG Energy has a 12 month low of $9.84 and a 12 month high of $24.16.
NRG Energy (NYSE:NRG) last released its quarterly earnings data on Tuesday, May 2nd. The utilities provider reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.41) by $0.11. NRG Energy had a negative net margin of 7.81% and a positive return on equity of 7.01%. The company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $3.29 billion. On average, equities analysts predict that NRG Energy will post $0.60 EPS for the current year.
Several research analysts have recently weighed in on NRG shares. Zacks Investment Research raised shares of NRG Energy from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Wednesday, April 12th. Deutsche Bank AG decreased their price objective on shares of NRG Energy from $29.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday, April 11th. Goldman Sachs Group, Inc. (The) raised shares of NRG Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $13.00 to $26.00 in a report on Wednesday, March 29th. BidaskClub raised shares of NRG Energy from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Finally, ValuEngine cut shares of NRG Energy from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $21.13.
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About NRG Energy
NRG Energy, Inc (NRG) is an integrated power company. The Company is engaged in producing, selling and delivering electricity and related products and services in various markets in the United States. The Company’s segments include Generation, Retail, Renewables, NRG Yield, Inc (NRG Yield) and Corporate activities.
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