NRG Energy (NYSE:NRG) Price Target Raised to $100.00 at Citigroup

NRG Energy (NYSE:NRG) had its target price boosted by Citigroup from $84.00 to $100.00 in a research report released on Thursday morning, Benzinga reports. Citigroup currently has a buy rating on the utilities provider’s stock.

Other equities analysts also recently issued research reports about the company. Wells Fargo & Company lifted their price target on NRG Energy from $120.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday. StockNews.com downgraded NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Jefferies Financial Group initiated coverage on NRG Energy in a research note on Friday, September 13th. They issued a “hold” rating and a $82.00 price objective on the stock. BMO Capital Markets upped their price objective on NRG Energy from $90.00 to $94.00 and gave the company a “market perform” rating in a research note on Tuesday. Finally, Guggenheim upped their price objective on NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, NRG Energy has a consensus rating of “Hold” and a consensus price target of $89.75.

NRG Energy Stock Down 0.8 %

NRG Energy stock traded down $0.75 during midday trading on Thursday, reaching $89.24. The stock had a trading volume of 334,544 shares, compared to its average volume of 3,273,231. NRG Energy has a 12 month low of $41.73 and a 12 month high of $96.40. The company has a market capitalization of $18.42 billion, a P/E ratio of 9.85 and a beta of 1.10. The company has a fifty day moving average price of $86.17 and a two-hundred day moving average price of $80.86. 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 (NYSE:NRG) last issued its earnings results on Thursday, August 8th. The utilities provider reported $3.37 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 business had revenue of $6.66 billion during the quarter, compared to analyst estimates of $8.32 billion. During the same period in the previous year, the company posted $1.10 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts expect that NRG Energy will post 6.09 EPS for the current fiscal year.

NRG Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a $0.4075 dividend. The ex-dividend date is Friday, November 1st. This represents a $1.63 annualized dividend and a yield of 1.83%. NRG Energy’s dividend payout ratio (DPR) is presently 17.76%.

Insider Buying and Selling

In other NRG Energy news, insider Rasesh M. Patel sold 102,603 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were 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 directly owns 163,680 shares in the company, valued at $13,151,688. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.86% of the stock is owned by company insiders.

Institutional Trading of NRG Energy

A number of institutional investors have recently modified their holdings of NRG. Allspring Global Investments Holdings LLC raised its stake in NRG Energy by 885.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 237,444 shares of the utilities provider’s stock worth $16,073,000 after buying an additional 213,347 shares in the last quarter. Quadrature Capital Ltd raised its stake in NRG Energy by 148.6% in the first quarter. Quadrature Capital Ltd now owns 21,814 shares of the utilities provider’s stock worth $1,477,000 after buying an additional 13,040 shares in the last quarter. Cetera Investment Advisers raised its stake in NRG Energy by 104.5% in the first quarter. Cetera Investment Advisers now owns 73,865 shares of the utilities provider’s stock worth $5,000,000 after buying an additional 37,750 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of NRG Energy by 65.8% during the second quarter. Assenagon Asset Management S.A. now owns 1,596,684 shares of the utilities provider’s stock valued at $124,318,000 after purchasing an additional 633,765 shares in the last quarter. Finally, Friedenthal Financial bought a new position in shares of NRG Energy during the second quarter valued at approximately $746,000. 97.72% of the stock is currently 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.