Stock analysts at Bank of America Corporation assumed coverage on shares of NRG Energy, Inc. (NYSE:NRG) in a research note issued to investors on Tuesday. The firm set a “buy” rating and a $31.00 price target on the utilities provider’s stock. Bank of America Corporation’s price target suggests a potential upside of 24.55% from the company’s previous close.

A number of other brokerages have also weighed in on NRG. BidaskClub upgraded NRG Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Barclays PLC reiterated an “overweight” rating and issued a $27.00 price target on shares of NRG Energy in a research report on Thursday, July 13th. They noted that the move was a valuation call. Zacks Investment Research upgraded NRG Energy from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Tuesday, September 12th. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $25.00 price target on shares of NRG Energy in a research report on Friday. Finally, ValuEngine upgraded NRG Energy from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $24.67.

NRG Energy (NYSE:NRG) traded up 1.29% during trading on Tuesday, hitting $25.21. The stock had a trading volume of 1,726,714 shares. The firm’s market cap is $7.98 billion. NRG Energy has a 52-week low of $9.84 and a 52-week high of $26.68. The company has a 50-day moving average of $24.82 and a 200 day moving average of $20.89.

NRG Energy (NYSE:NRG) last issued its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.31. The firm 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%. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.61) earnings per share. On average, equities research analysts predict that NRG Energy will post $0.59 earnings per share for the current fiscal year.

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Several institutional investors have recently bought and sold shares of NRG. BlackRock Inc. raised its stake in shares of NRG Energy by 5,026.6% during the first quarter. BlackRock Inc. now owns 19,983,017 shares of the utilities provider’s stock valued at $373,684,000 after acquiring an additional 19,593,226 shares in the last quarter. Janus Henderson Group PLC raised its stake in NRG Energy by 42,970.1% in the second quarter. Janus Henderson Group PLC now owns 5,517,278 shares of the utilities provider’s stock worth $95,007,000 after buying an additional 5,504,468 shares in the last quarter. Permian Investment Partners LP raised its stake in NRG Energy by 51.0% in the second quarter. Permian Investment Partners LP now owns 5,938,024 shares of the utilities provider’s stock worth $102,253,000 after buying an additional 2,005,094 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in NRG Energy by 38.6% in the second quarter. Dimensional Fund Advisors LP now owns 6,369,761 shares of the utilities provider’s stock worth $109,682,000 after buying an additional 1,772,966 shares in the last quarter. Finally, Balyasny Asset Management LLC raised its stake in NRG Energy by 4,510.5% in the second quarter. Balyasny Asset Management LLC now owns 1,671,181 shares of the utilities provider’s stock worth $28,778,000 after buying an additional 1,634,934 shares in the last quarter. 91.61% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for NRG Energy (NYSE:NRG)

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