Wells Fargo & Company Issues Positive Forecast for NRG Energy (NYSE:NRG) Stock Price

NRG Energy (NYSE:NRG) had its price target increased by Wells Fargo & Company from $130.00 to $140.00 in a research report released on Monday,Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

A number of other research analysts also recently issued reports on NRG. StockNews.com downgraded shares of NRG Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Jefferies Financial Group began coverage on NRG Energy in a research report on Friday, September 13th. They issued a “hold” rating and a $82.00 price objective for the company. Guggenheim upped their target price on NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. BMO Capital Markets raised their price target on NRG Energy from $90.00 to $94.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Finally, Citigroup upped their price objective on shares of NRG Energy from $84.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $97.43.

NRG Energy Stock Down 0.9 %

Shares of NRG traded down $0.85 during trading hours on Monday, hitting $93.43. The company had a trading volume of 128,414 shares, compared to its average volume of 3,271,241. NRG Energy has a one year low of $44.90 and a one year high of $102.84. The company’s fifty day moving average price is $87.40 and its two-hundred day moving average price is $81.97. The company has a market capitalization of $19.28 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 1.42 and a beta of 1.10. The company has a current ratio of 1.18, a quick ratio of 1.11 and a debt-to-equity ratio of 3.51.

NRG Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a $0.4075 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.63 dividend on an annualized basis and a yield of 1.74%. NRG Energy’s payout ratio is 40.95%.

Insider Buying and Selling at NRG Energy

In other news, insider Rasesh M. Patel sold 102,603 shares of the 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 transaction, the insider now owns 163,680 shares in the company, valued at $13,151,688. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.86% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NRG Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. raised its position in shares of NRG Energy by 14.7% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,880 shares of the utilities provider’s stock valued at $330,000 after buying an additional 624 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in shares of NRG Energy during the 1st quarter worth about $774,000. Concurrent Investment Advisors LLC raised its holdings in NRG Energy by 27.9% in the 1st quarter. Concurrent Investment Advisors LLC now owns 5,163 shares of the utilities provider’s stock valued at $349,000 after buying an additional 1,126 shares during the period. Entropy Technologies LP acquired a new position in NRG Energy in the first quarter valued at about $1,112,000. Finally, Patton Fund Management Inc. purchased a new position in NRG Energy during the first quarter worth about $8,019,000. Institutional investors and hedge funds own 97.72% of the company’s stock.

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.