Wells Fargo & Company Boosts NRG Energy (NYSE:NRG) Price Target to $120.00

NRG Energy (NYSE:NRG) had its target price hoisted by Wells Fargo & Company from $110.00 to $120.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the utilities provider’s stock.

NRG has been the topic of a number of other reports. BMO Capital Markets boosted their price target on NRG Energy from $73.00 to $82.00 and gave the stock a market perform rating in a research report on Wednesday, May 8th. StockNews.com cut NRG Energy from a buy rating to a hold rating in a research note on Monday, September 2nd. Finally, Morgan Stanley lifted their price target on NRG Energy from $70.00 to $83.00 and gave the stock an equal weight rating in a research report on Tuesday, May 28th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, NRG Energy presently has a consensus rating of Hold and an average price target of $72.57.

NRG Energy Trading Down 2.6 %

NRG opened at $76.51 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.18 and a debt-to-equity ratio of 3.51. NRG Energy has a 52 week low of $36.61 and a 52 week high of $87.58. The stock has a market cap of $15.95 billion, a PE ratio of 10.84 and a beta of 1.10. The business has a 50 day moving average of $78.17 and a 200-day moving average of $74.59.

NRG Energy (NYSE:NRG) last announced its quarterly earnings data on Thursday, August 8th. The utilities provider reported $3.37 EPS for the quarter, beating the consensus estimate of $1.55 by $1.82. The business had revenue of $6.66 billion during the quarter, compared to analyst estimates of $8.32 billion. NRG Energy had a return on equity of 43.69% and a net margin of 7.19%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.10 earnings per share. Equities research analysts predict that NRG Energy will post 4.45 earnings per share for the current fiscal year.

NRG Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were issued a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend was Thursday, August 1st. NRG Energy’s payout ratio is currently 23.09%.

Hedge Funds Weigh In On NRG Energy

A number of hedge funds have recently bought and sold shares of the business. Gotham Asset Management LLC grew its stake in shares of NRG Energy by 93.1% in the fourth quarter. Gotham Asset Management LLC now owns 357,618 shares of the utilities provider’s stock worth $18,489,000 after acquiring an additional 172,400 shares during the period. Allspring Global Investments Holdings LLC raised its stake in NRG Energy by 885.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 237,444 shares of the utilities provider’s stock valued at $16,073,000 after buying an additional 213,347 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of NRG Energy by 156.4% in the 4th quarter. Franklin Resources Inc. now owns 269,749 shares of the utilities provider’s stock worth $13,946,000 after buying an additional 164,543 shares during the last quarter. Quarry LP grew its holdings in shares of NRG Energy by 784.3% in the fourth quarter. Quarry LP now owns 10,912 shares of the utilities provider’s stock worth $564,000 after acquiring an additional 9,678 shares during the period. Finally, Quadrature Capital Ltd increased its position in NRG Energy by 148.6% during the first quarter. Quadrature Capital Ltd now owns 21,814 shares of the utilities provider’s stock valued at $1,477,000 after acquiring an additional 13,040 shares during the last quarter. Hedge funds and other institutional investors 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.