NRG Energy, Inc. (NRG) Rating Lowered to Buy at ValuEngine
NRG Energy, Inc. (NYSE:NRG) was downgraded by analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a report issued on Friday.
NRG has been the subject of several other research reports. Bank of America Corporation began coverage on shares of NRG Energy in a research note on Tuesday. They issued a “buy” rating and a $31.00 target price for the company. Zacks Investment Research raised shares of NRG Energy from a “sell” rating to a “hold” rating in a research note on Friday. Barclays PLC reissued an “overweight” rating and issued a $27.00 target price on shares of NRG Energy in a research note on Thursday, July 13th. They noted that the move was a valuation call. SunTrust Banks, Inc. reissued a “hold” rating and issued a $25.00 target price on shares of NRG Energy in a research note on Friday, October 20th. Finally, BidaskClub raised shares of NRG Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 16th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $24.67.
Shares of NRG Energy (NYSE:NRG) traded up 2.30% during midday trading on Friday, hitting $25.34. 2,922,398 shares of the stock were exchanged. NRG Energy has a 12-month low of $9.84 and a 12-month high of $26.68. The firm has a 50-day moving average price of $24.84 and a 200 day moving average price of $20.96. The firm’s market cap is $8.02 billion.
NRG Energy (NYSE:NRG) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.05 by $0.31. NRG Energy had a negative net margin of 10.67% and a positive return on equity of 12.38%. The business had revenue of $2.70 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same period in the previous year, the firm earned ($0.61) EPS. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. Analysts predict that NRG Energy will post $0.59 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently bought and sold shares of the company. Aviva PLC increased its stake in shares of NRG Energy by 5.5% during the 2nd quarter. Aviva PLC now owns 196,771 shares of the utilities provider’s stock valued at $3,388,000 after acquiring an additional 10,240 shares during the last quarter. Arizona State Retirement System increased its stake in shares of NRG Energy by 0.3% during the 2nd quarter. Arizona State Retirement System now owns 78,400 shares of the utilities provider’s stock valued at $1,350,000 after acquiring an additional 200 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of NRG Energy by 694.4% during the 2nd quarter. SG Americas Securities LLC now owns 73,240 shares of the utilities provider’s stock valued at $1,261,000 after acquiring an additional 64,020 shares during the last quarter. Elliott Management Corp increased its stake in shares of NRG Energy by 8.4% during the 2nd quarter. Elliott Management Corp now owns 19,600,000 shares of the utilities provider’s stock valued at $337,512,000 after acquiring an additional 1,526,394 shares during the last quarter. Finally, Dorsey Wright & Associates acquired a new position in shares of NRG Energy during the 2nd quarter valued at about $2,199,000. 91.61% of the stock is owned by 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.
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