NRG Energy (NYSE:NRG) Price Target Raised to $165.00 at Wells Fargo & Company

NRG Energy (NYSE:NRG) had its price objective lifted by stock analysts at Wells Fargo & Company from $140.00 to $165.00 in a report released on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 44.99% from the company’s current price.

Several other research analysts have also recently issued reports on the company. Evercore ISI upgraded NRG Energy from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $74.00 to $126.00 in a research report on Tuesday, January 21st. Morgan Stanley increased their target price on shares of NRG Energy from $86.00 to $99.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Citigroup boosted their price target on NRG Energy from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Jefferies Financial Group raised NRG Energy from a “hold” rating to a “buy” rating and raised their price objective for the company from $93.00 to $113.00 in a research note on Tuesday, November 26th. Finally, BMO Capital Markets boosted their target price on NRG Energy from $94.00 to $100.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 19th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.29.

NRG Energy Stock Performance

NYSE:NRG traded up $0.47 during mid-day trading on Thursday, reaching $113.80. The stock had a trading volume of 826,977 shares, compared to its average volume of 2,977,448. The firm has a market capitalization of $23.05 billion, a price-to-earnings ratio of 28.71, a PEG ratio of 1.01 and a beta of 1.15. The business has a 50 day simple moving average of $101.48 and a 200 day simple moving average of $93.37. NRG Energy has a twelve month low of $52.96 and a twelve month high of $117.26. The company has a debt-to-equity ratio of 5.57, a quick ratio of 1.10 and a current ratio of 1.17.

Insider Transactions at NRG Energy

In other news, CFO Bruce Chung sold 20,000 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $97.63, for a total value of $1,952,600.00. Following the transaction, the chief financial officer now owns 69,454 shares of the company’s stock, valued at approximately $6,780,794.02. This trade represents a 22.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Robert J. Gaudette sold 60,000 shares of NRG Energy stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $91.41, for a total transaction of $5,484,600.00. Following the sale, the vice president now directly owns 64,448 shares in the company, valued at $5,891,191.68. This trade represents a 48.21 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On NRG Energy

A number of hedge funds have recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in NRG Energy in the third quarter valued at approximately $26,000. Covestor Ltd boosted its stake in NRG Energy by 74.7% during the 3rd quarter. Covestor Ltd now owns 325 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 139 shares during the period. SBI Securities Co. Ltd. bought a new position in NRG Energy in the 4th quarter worth about $32,000. Harbor Capital Advisors Inc. acquired a new stake in shares of NRG Energy in the third quarter valued at approximately $35,000. Finally, UMB Bank n.a. raised its holdings in shares of NRG Energy by 100.4% during the fourth quarter. UMB Bank n.a. now owns 455 shares of the utilities provider’s stock valued at $41,000 after buying an additional 228 shares during the last quarter. 97.72% of the stock is currently owned by institutional investors and hedge funds.

About NRG Energy

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.