NRG Energy (NYSE:NRG) Stock Price Up 3.2%

NRG Energy, Inc. (NYSE:NRG)’s share price shot up 3.2% on Friday . The stock traded as high as $84.41 and last traded at $84.41. 49,459 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 3,364,447 shares. The stock had previously closed at $81.83.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. StockNews.com downgraded NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Jefferies Financial Group started coverage on shares of NRG Energy in a report on Friday, September 13th. They issued a “hold” rating and a $82.00 price objective for the company. Wells Fargo & Company increased their target price on shares of NRG Energy from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Finally, Morgan Stanley lifted their price target on shares of NRG Energy from $70.00 to $83.00 and gave the company an “equal weight” rating in a report on Tuesday, May 28th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, NRG Energy currently has an average rating of “Hold” and a consensus price target of $73.75.

NRG Energy Stock Performance

The firm has a market cap of $18.16 billion, a price-to-earnings ratio of 12.34 and a beta of 1.10. The stock’s fifty day moving average is $78.60 and its two-hundred day moving average is $76.43. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.11 and a current ratio of 1.18.

NRG Energy (NYSE:NRG) last announced its quarterly earnings results on Thursday, August 8th. The utilities provider reported $3.37 EPS for the quarter, beating the consensus estimate of $1.55 by $1.82. The company had revenue of $6.66 billion for the quarter, compared to analyst estimates of $8.32 billion. NRG Energy had a net margin of 7.19% and a return on equity of 43.69%. NRG Energy’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.10 earnings per share. On average, analysts expect that NRG Energy, Inc. will post 4.45 earnings per share for the current fiscal year.

NRG Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were paid a $0.4075 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.63 annualized dividend and a dividend yield of 1.87%. NRG Energy’s payout ratio is 23.09%.

Insider Activity

In related news, insider Rasesh M. Patel sold 102,603 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $80.35, for a total value of $8,244,151.05. Following the completion of the transaction, the insider now owns 163,680 shares in the company, valued at approximately $13,151,688. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in NRG Energy in the second quarter worth approximately $1,412,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of NRG Energy in the second quarter valued at $132,000. Sanctuary Advisors LLC bought a new position in NRG Energy during the second quarter valued at about $1,120,000. Clearbridge Investments LLC acquired a new position in NRG Energy during the second quarter worth about $1,012,000. Finally, New Century Financial Group LLC bought a new stake in NRG Energy in the second quarter worth about $216,000. 97.72% of the stock is currently owned by institutional investors.

NRG Energy Company Profile

NRG Energy, Inc, together with its subsidiaries, operates as an energy and home services company in the United States and Canada. It operates through Texas; East; West/Services/Other; Vivint Smart Home; and Corporate Activities segments. The company produces and sells electricity generated using coal, oil, solar, and battery storage; natural gas; and a cloud-based home platform, including hardware, software, sales, installation, customer service, technical support, and professional monitoring solutions.