NRG Energy Inc (NYSE:NRG) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 8,621,900 shares, a decrease of 12.1% from the July 31st total of 9,813,600 shares. Based on an average daily trading volume, of 3,370,000 shares, the days-to-cover ratio is presently 2.6 days. Currently, 3.6% of the shares of the company are short sold.
NRG has been the subject of several analyst reports. ValuEngine lowered NRG Energy from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Goldman Sachs Group upgraded NRG Energy from a “buy” rating to a “conviction-buy” rating and set a $56.00 price objective for the company in a research note on Monday, June 24th. Morgan Stanley upgraded NRG Energy from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $47.00 to $49.00 in a research note on Friday, September 6th. Finally, Zacks Investment Research upgraded NRG Energy from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. NRG Energy has a consensus rating of “Buy” and a consensus target price of $45.13.
Shares of NYSE:NRG traded down $0.09 during midday trading on Thursday, hitting $38.52. The company had a trading volume of 248,145 shares, compared to its average volume of 3,351,674. The company has a market cap of $9.57 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 0.27 and a beta of 0.78. NRG Energy has a 12-month low of $32.63 and a 12-month high of $43.66. The company has a fifty day moving average of $35.43 and a two-hundred day moving average of $37.67.
NRG Energy (NYSE:NRG) last posted its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.70 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.08). The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.52 billion. NRG Energy had a negative return on equity of 45.11% and a net margin of 6.20%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the company earned $0.31 earnings per share. On average, equities analysts expect that NRG Energy will post 3.82 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.25%. This is a positive change from NRG Energy’s previous quarterly dividend of $0.03. The ex-dividend date was Wednesday, July 31st. NRG Energy’s dividend payout ratio is 4.98%.
Several large investors have recently bought and sold shares of the company. Redhawk Wealth Advisors Inc. purchased a new stake in NRG Energy in the 2nd quarter worth $26,000. Valeo Financial Advisors LLC increased its stake in NRG Energy by 758.5% in the 2nd quarter. Valeo Financial Advisors LLC now owns 807 shares of the utilities provider’s stock worth $28,000 after buying an additional 713 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in NRG Energy in the 1st quarter worth $31,000. Point72 Hong Kong Ltd purchased a new stake in NRG Energy in the 2nd quarter worth $34,000. Finally, CSat Investment Advisory L.P. increased its stake in NRG Energy by 128.2% in the 2nd quarter. CSat Investment Advisory L.P. now owns 1,312 shares of the utilities provider’s stock worth $46,000 after buying an additional 737 shares in the last quarter. Hedge funds and other institutional investors own 96.17% of the company’s stock.
NRG Energy Company Profile
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.
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