BMO Capital Markets Issues Positive Forecast for NRG Energy (NYSE:NRG) Stock Price

NRG Energy (NYSE:NRG) had its target price lifted by BMO Capital Markets from $94.00 to $100.00 in a report issued on Tuesday morning,Benzinga reports. The firm currently has a market perform rating on the utilities provider’s stock.

Several other brokerages have also recently weighed in on NRG. Wells Fargo & Company increased their price target on NRG Energy from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. 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 started coverage on shares of NRG Energy in a research report on Friday, September 13th. They issued a “hold” rating and a $82.00 price target on the stock. Citigroup increased their price objective on shares of NRG Energy from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Guggenheim boosted their target price on shares of NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $98.29.

NRG Energy Stock Performance

Shares of NRG Energy stock opened at $94.86 on Tuesday. The stock has a market cap of $19.22 billion, a price-to-earnings ratio of 23.83, a P/E/G ratio of 1.34 and a beta of 1.10. NRG Energy has a twelve month low of $44.90 and a twelve month high of $102.84. The company’s fifty day moving average is $89.14 and its 200 day moving average is $82.76. The company has a quick ratio of 1.10, a current ratio of 1.17 and a debt-to-equity ratio of 5.57.

NRG Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were paid a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a yield of 1.72%. The ex-dividend date was Friday, November 1st. NRG Energy’s dividend payout ratio is presently 40.95%.

Insiders Place Their Bets

In other NRG Energy 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 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. This represents a 38.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On NRG Energy

Institutional investors have recently modified their holdings of the company. O Shaughnessy Asset Management LLC raised its holdings in NRG Energy by 35.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 8,723 shares of the utilities provider’s stock worth $590,000 after buying an additional 2,304 shares during the last quarter. UniSuper Management Pty Ltd increased its position in shares of NRG Energy by 492.6% during the first quarter. UniSuper Management Pty Ltd now owns 17,719 shares of the utilities provider’s stock worth $1,199,000 after acquiring an additional 14,729 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of NRG Energy by 1.3% in the 1st quarter. Bessemer Group Inc. now owns 25,818 shares of the utilities provider’s stock worth $1,747,000 after acquiring an additional 320 shares during the last quarter. Crewe Advisors LLC bought a new position in NRG Energy in the 1st quarter valued at about $36,000. Finally, Quadrature Capital Ltd boosted its stake in NRG Energy by 148.6% during the 1st quarter. Quadrature Capital Ltd now owns 21,814 shares of the utilities provider’s stock valued at $1,477,000 after purchasing an additional 13,040 shares during the last quarter. 97.72% of the stock is owned by institutional investors and hedge funds.

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.