BMO Capital Markets Raises NRG Energy (NYSE:NRG) Price Target to $90.00

NRG Energy (NYSE:NRG) had its price objective boosted by equities research analysts at BMO Capital Markets from $88.00 to $90.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ price objective would suggest a potential downside of 1.85% from the stock’s previous close.

NRG has been the subject of several other research reports. Jefferies Financial Group began coverage on shares of NRG Energy in a report on Friday, September 13th. They set a “hold” rating and a $82.00 target price for the company. Wells Fargo & Company lifted their target price on shares of NRG Energy from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. Finally, StockNews.com cut shares of NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $74.75.

NRG Energy Stock Up 0.5 %

NRG traded up $0.48 on Monday, hitting $91.70. The company had a trading volume of 490,796 shares, compared to its average volume of 3,374,438. The stock has a market capitalization of $19.12 billion, a price-to-earnings ratio of 13.01 and a beta of 1.10. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.11 and a current ratio of 1.18. The stock has a fifty day moving average price of $80.08 and a 200-day moving average price of $77.52. NRG Energy has a 12-month low of $36.61 and a 12-month high of $93.17.

NRG Energy (NYSE:NRG) last issued its quarterly earnings data on Thursday, August 8th. The utilities provider reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $1.82. The firm had revenue of $6.66 billion for the quarter, compared to the consensus estimate of $8.32 billion. NRG Energy had a net margin of 7.19% and a return on equity of 43.69%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.10 EPS. Analysts predict that NRG Energy will post 5.51 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Rasesh M. Patel sold 102,603 shares of NRG Energy stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $80.35, for a total value of $8,244,151.05. Following the sale, the insider now directly owns 163,680 shares in the company, valued at approximately $13,151,688. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On NRG Energy

Several hedge funds and other institutional investors have recently modified their holdings of the business. Banco Santander S.A. acquired a new stake in NRG Energy in the 2nd quarter valued at about $217,671,000. Capitolis Liquid Global Markets LLC lifted its position in NRG Energy by 253.2% during the first quarter. Capitolis Liquid Global Markets LLC now owns 1,766,000 shares of the utilities provider’s stock worth $119,541,000 after buying an additional 1,266,000 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in NRG Energy by 11.1% during the first quarter. Russell Investments Group Ltd. now owns 1,610,562 shares of the utilities provider’s stock worth $109,007,000 after buying an additional 160,415 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in NRG Energy by 65.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,596,684 shares of the utilities provider’s stock valued at $124,318,000 after buying an additional 633,765 shares in the last quarter. Finally, Zimmer Partners LP acquired a new stake in shares of NRG Energy in the 1st quarter worth $64,306,000. 97.72% of the stock is owned by hedge funds and other 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.