NRG Energy (NYSE:NRG) has been given a $46.00 price target by Morgan Stanley in a report released on Thursday, TipRanks reports. The brokerage currently has a “hold” rating on the utilities provider’s stock. Morgan Stanley’s price objective would indicate a potential upside of 29.29% from the company’s current price.
A number of other equities analysts have also recently issued reports on NRG. Citigroup raised their target price on shares of NRG Energy from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. ValuEngine cut shares of NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Deutsche Bank cut shares of NRG Energy from a “buy” rating to a “hold” rating and set a $45.00 target price on the stock. in a report on Monday, January 28th. Macquarie set a $48.00 target price on shares of NRG Energy and gave the stock a “buy” rating in a report on Friday, March 1st. Finally, Zacks Investment Research raised shares of NRG Energy from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Wednesday, January 23rd. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. NRG Energy currently has a consensus rating of “Buy” and an average target price of $44.14.
NYSE:NRG traded down $0.22 during mid-day trading on Thursday, reaching $35.58. The stock had a trading volume of 2,688,900 shares, compared to its average volume of 3,440,811. The company has a market capitalization of $9.51 billion, a price-to-earnings ratio of 14.76 and a beta of 0.75. NRG Energy has a 1-year low of $29.90 and a 1-year high of $43.66.
NRG Energy (NYSE:NRG) last posted its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.05). The firm had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.13 billion. NRG Energy had a negative return on equity of 125.35% and a net margin of 4.64%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the business posted $0.87 earnings per share. As a group, analysts expect that NRG Energy will post 4.07 earnings per share for the current fiscal year.
In other NRG Energy news, SVP David Callen sold 41,011 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $41.83, for a total value of $1,715,490.13. Following the transaction, the senior vice president now owns 58,130 shares of the company’s stock, valued at $2,431,577.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.56% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Legal & General Group Plc raised its holdings in shares of NRG Energy by 0.8% during the third quarter. Legal & General Group Plc now owns 1,217,274 shares of the utilities provider’s stock valued at $45,526,000 after buying an additional 9,329 shares during the last quarter. PFG Advisors bought a new stake in shares of NRG Energy during the fourth quarter valued at approximately $1,148,000. Sterling Investment Advisors Ltd. raised its holdings in shares of NRG Energy by 202.8% during the fourth quarter. Sterling Investment Advisors Ltd. now owns 1,493 shares of the utilities provider’s stock valued at $59,000 after buying an additional 1,000 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of NRG Energy by 81.3% during the fourth quarter. Bank of Montreal Can now owns 533,258 shares of the utilities provider’s stock valued at $21,116,000 after buying an additional 239,068 shares during the last quarter. Finally, NewSquare Capital LLC bought a new stake in shares of NRG Energy during the fourth quarter valued at approximately $243,000. 97.24% of the stock is currently owned by hedge funds and other institutional investors.
About NRG Energy
NRG Energy, Inc, together with its subsidiaries, operates as an energy company in the United States. The company is involved in the producing, selling, and delivering electricity and related products and services to 3.1 million residential, industrial, and commercial consumers. It generates electricity using natural gas, coal, oil, solar, nuclear, wind, fossil fuel, and nuclear sources.
Featured Story: How do taxes affect a CDs total return?
Receive News & Ratings for NRG Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NRG Energy and related companies with MarketBeat.com's FREE daily email newsletter.