NRG Energy (NYSE:NRG) Updates FY24 Earnings Guidance

NRG Energy (NYSE:NRG) updated its FY24 earnings guidance on Friday. The company provided EPS guidance of $5.95-$6.75 for the period, compared to the consensus EPS estimate of $6.36.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NRG. Guggenheim increased their price objective on NRG Energy from $77.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Jefferies Financial Group began coverage on NRG Energy in a research note on Friday, September 13th. They set a “hold” rating and a $82.00 target price for the company. BMO Capital Markets increased their target price on NRG Energy from $90.00 to $94.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. StockNews.com downgraded NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Finally, Citigroup increased their target price on NRG Energy from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $96.00.

NRG Energy Price Performance

NRG stock opened at $96.14 on Friday. The stock has a 50-day moving average price of $87.21 and a two-hundred day moving average price of $81.75. NRG Energy has a 12-month low of $44.90 and a 12-month high of $102.84. The company has a current ratio of 1.18, a quick ratio of 1.11 and a debt-to-equity ratio of 3.51. The company has a market cap of $19.84 billion, a PE ratio of 10.47, a price-to-earnings-growth ratio of 1.36 and a beta of 1.10.

NRG Energy (NYSE:NRG) last posted its quarterly earnings results on Thursday, August 8th. The utilities provider reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $1.82. NRG Energy had a return on equity of 43.69% and a net margin of 7.19%. The firm had revenue of $6.66 billion during the quarter, compared to the consensus estimate of $8.32 billion. During the same quarter in the previous year, the business earned $1.10 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, research analysts predict that NRG Energy will post 6.29 EPS for the current year.

NRG Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Friday, November 1st. NRG Energy’s dividend payout ratio is presently 17.76%.

Insiders Place Their Bets

In related news, insider Rasesh M. Patel sold 102,603 shares of the business’s 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 transaction, the insider now owns 163,680 shares in the company, valued at approximately $13,151,688. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.86% of the stock is currently owned by insiders.

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.