SunTrust Banks Comments on NRG Energy, Inc.’s FY2019 Earnings (NRG)
NRG Energy, Inc. (NYSE:NRG) – Analysts at SunTrust Banks raised their FY2019 earnings per share (EPS) estimates for shares of NRG Energy in a report released on Friday. SunTrust Banks analyst A. Agha now anticipates that the utilities provider will post earnings per share of $1.59 for the year, up from their previous forecast of $1.45.
A number of other research analysts have also recently issued reports on the company. Zacks Investment Research cut NRG Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, April 25th. Deutsche Bank AG lowered their price objective on NRG Energy from $29.00 to $26.00 and set a “buy” rating for the company in a research note on Tuesday, April 11th. BidaskClub upgraded NRG Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Williams Capital initiated coverage on NRG Energy in a research note on Thursday, June 1st. They set a “buy” rating and a $20.00 price objective for the company. Finally, ValuEngine upgraded NRG Energy from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $21.13.
Shares of NRG Energy (NYSE:NRG) opened at 24.31 on Monday. NRG Energy has a 52-week low of $9.84 and a 52-week high of $25.43. The company has a 50-day moving average price of $19.91 and a 200-day moving average price of $17.67. The stock’s market capitalization is $7.68 billion.
NRG Energy (NYSE:NRG) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.31. The business had revenue of $2.70 billion during the quarter, compared to analyst estimates of $3.19 billion. NRG Energy had a positive return on equity of 12.38% and a negative net margin of 10.67%. NRG Energy’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.61) EPS.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in NRG Energy during the fourth quarter valued at $125,000. Thrivent Financial for Lutherans boosted its position in NRG Energy by 6.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,920 shares of the utilities provider’s stock valued at $134,000 after buying an additional 680 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in NRG Energy during the first quarter valued at $141,000. Campbell & CO Investment Adviser LLC acquired a new position in NRG Energy during the second quarter valued at $186,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in NRG Energy during the first quarter valued at $194,000. Hedge funds and other institutional investors own 92.46% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Friday, July 28th. NRG Energy’s dividend payout ratio is currently -2.75%.
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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