Brokerages Set NRG Energy, Inc. (NYSE:NRG) Price Target at $98.29

Shares of NRG Energy, Inc. (NYSE:NRG) have been assigned an average rating of “Hold” from the seven research firms that are covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $98.29.

Several research firms recently weighed in on NRG. Wells Fargo & Company boosted their target price on NRG Energy from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Jefferies Financial Group began coverage on shares of NRG Energy in a research report on Friday, September 13th. They set a “hold” rating and a $82.00 price objective for the company. Citigroup increased their target price on shares of NRG Energy from $84.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. BMO Capital Markets boosted their price target on shares of NRG Energy from $94.00 to $100.00 and gave the company a “market perform” rating in a research report on Tuesday. Finally, StockNews.com lowered NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd.

Insider Transactions at NRG Energy

In other news, insider Rasesh M. Patel sold 102,603 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $80.35, for a total transaction of $8,244,151.05. Following the completion of the sale, the insider now owns 163,680 shares in the company, valued at $13,151,688. This represents a 38.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On NRG Energy

Institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in shares of NRG Energy by 6.2% in the third quarter. Geode Capital Management LLC now owns 5,399,098 shares of the utilities provider’s stock valued at $494,225,000 after acquiring an additional 313,478 shares in the last quarter. Banco Santander S.A. boosted its holdings in NRG Energy by 0.9% in the 3rd quarter. Banco Santander S.A. now owns 2,820,500 shares of the utilities provider’s stock valued at $256,948,000 after purchasing an additional 24,834 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in NRG Energy by 7.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,663,441 shares of the utilities provider’s stock worth $242,639,000 after purchasing an additional 182,481 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of NRG Energy by 65.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,596,684 shares of the utilities provider’s stock worth $124,318,000 after buying an additional 633,765 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of NRG Energy by 52.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,330,706 shares of the utilities provider’s stock valued at $121,227,000 after buying an additional 456,573 shares during the period. 97.72% of the stock is owned by institutional investors and hedge funds.

NRG Energy Stock Down 1.5 %

Shares of NYSE NRG opened at $95.48 on Wednesday. The business has a 50-day moving average of $90.06 and a two-hundred day moving average of $83.06. The company has a market capitalization of $19.34 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 1.38 and a beta of 1.10. NRG Energy has a 1 year low of $45.29 and a 1 year high of $102.84. The company has a debt-to-equity ratio of 5.57, a current ratio of 1.17 and a quick ratio of 1.10.

NRG Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were paid a $0.4075 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.63 dividend on an annualized basis and a yield of 1.71%. NRG Energy’s dividend payout ratio is presently 40.95%.

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.