NRG Energy (NRG) Lowered to Hold at ValuEngine

NRG Energy (NYSE:NRG) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

A number of other research firms have also commented on NRG. Zacks Investment Research upgraded shares of NRG Energy from a “hold” rating to a “strong-buy” rating and set a $36.00 price target for the company in a report on Tuesday, April 24th. SunTrust Banks reiterated a “hold” rating and set a $29.00 price target on shares of NRG Energy in a report on Thursday, March 15th. TheStreet upgraded shares of NRG Energy from a “d+” rating to a “c-” rating in a report on Wednesday, March 21st. Finally, UBS upped their price target on shares of NRG Energy from $36.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, March 28th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $30.00.

NYSE:NRG traded down $0.20 during midday trading on Thursday, reaching $33.55. 3,481,978 shares of the stock traded hands, compared to its average volume of 5,744,968. NRG Energy has a 12 month low of $33.47 and a 12 month high of $34.01. The company has a quick ratio of 1.09, a current ratio of 1.23 and a debt-to-equity ratio of 6.82. The firm has a market capitalization of $10.63 billion, a P/E ratio of 30.78 and a beta of 0.89.

NRG Energy (NYSE:NRG) last posted its quarterly earnings results on Thursday, May 3rd. The utilities provider reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.73. NRG Energy had a negative net margin of 16.04% and a positive return on equity of 26.42%. The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.08 billion. NRG Energy’s quarterly revenue was up 1.6% compared to the same quarter last year. analysts anticipate that NRG Energy will post 3.29 EPS for the current year.

NRG Energy declared that its Board of Directors has approved a stock buyback program on Thursday, March 1st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the utilities provider to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Ladenburg Thalmann Financial Services Inc. raised its holdings in NRG Energy by 29.0% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,442 shares of the utilities provider’s stock worth $258,000 after purchasing an additional 1,898 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in NRG Energy by 54.7% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,076 shares of the utilities provider’s stock worth $175,000 after purchasing an additional 2,148 shares in the last quarter. IFP Advisors Inc raised its holdings in NRG Energy by 112.2% in the 1st quarter. IFP Advisors Inc now owns 4,352 shares of the utilities provider’s stock worth $133,000 after purchasing an additional 2,301 shares in the last quarter. Stifel Financial Corp raised its holdings in NRG Energy by 7.8% in the 1st quarter. Stifel Financial Corp now owns 35,007 shares of the utilities provider’s stock worth $1,067,000 after purchasing an additional 2,528 shares in the last quarter. Finally, Itau Unibanco Holding S.A. raised its holdings in NRG Energy by 122.7% in the 4th quarter. Itau Unibanco Holding S.A. now owns 4,815 shares of the utilities provider’s stock worth $137,000 after purchasing an additional 2,653 shares in the last quarter. Institutional investors and hedge funds own 97.31% of the company’s stock.

NRG Energy Company Profile

NRG Energy, Inc, together with its subsidiaries, operates as an integrated power company in the United States. The company is involved in the generation of electricity using fossil fuel and nuclear sources. The company provides electricity to 2.9 million residential, commercial, and industrial consumers; system power, distributed generation, solar and wind products, backup generation, storage and distributed solar, demand response, energy efficiency, and on-site energy solutions; and carbon management and specialty services.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for NRG Energy (NYSE:NRG)

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