NRG Energy, Inc. (NRG) Declares $0.03 Quarterly Dividend
NRG Energy, Inc. (NYSE:NRG) announced a quarterly dividend on Wednesday, October 18th, RTT News reports. Shareholders of record on Wednesday, November 1st will be given a dividend of 0.03 per share by the utilities provider on Wednesday, November 15th. This represents a $0.12 annualized dividend and a yield of 0.46%.
NRG Energy has decreased its dividend payment by an average of 19.5% per year over the last three years. NRG Energy has a dividend payout ratio of 16.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect NRG Energy to earn $1.38 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 8.7%.
NRG Energy (NYSE:NRG) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.31. NRG Energy had a positive return on equity of 12.38% and a negative net margin of 10.67%. The business had revenue of $2.70 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same quarter in the previous year, the business earned ($0.61) earnings per share. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year.
Several brokerages have issued reports on NRG. Zacks Investment Research lowered NRG Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. BidaskClub upgraded NRG Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. Barclays PLC restated an “overweight” rating and set a $27.00 target price on shares of NRG Energy in a research report on Thursday, July 13th. They noted that the move was a valuation call. Finally, ValuEngine upgraded NRG Energy from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. NRG Energy presently has a consensus rating of “Buy” and an average price target of $22.25.
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NRG Energy Company Profile
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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