NRG Energy, Inc. (NRG) Rating Increased to Hold at Zacks Investment Research

NRG Energy, Inc. (NYSE:NRG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

According to Zacks, “Shares of NRG Energy have gained more than the industry in the last 12 months. NRG Energy is gaining from its asset drop-down program that is in sync with its long-term growth strategy. Its cost saving measures, debt reduction plans and expansion of renewable operations should further drive growth. It does not depend one single customer to generate revenues, therefore, migration of customers to other operators have lesser impact on its performance. NRG Energy is subject to stringent environmental regulations, fluctuating weather conditions and intense competition in the wholesale power markets are headwinds.”

Several other research analysts have also recently issued reports on NRG. Bank of America Corporation began coverage on shares of NRG Energy in a report on Tuesday, October 24th. They issued a “buy” rating and a $31.00 price objective for the company. SunTrust Banks, Inc. restated a “hold” rating and set a $25.00 target price on shares of NRG Energy in a report on Friday, October 20th. BidaskClub upgraded shares of NRG Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. Barclays PLC restated an “overweight” rating and issued a $27.00 price target on shares of NRG Energy in a research report on Thursday, July 13th. They noted that the move was a valuation call. Finally, ValuEngine upgraded shares of NRG Energy from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. NRG Energy has an average rating of “Buy” and an average price target of $24.67.

NRG Energy (NYSE NRG) traded up 2.30% during trading on Friday, hitting $25.34. The company had a trading volume of 2,922,398 shares. NRG Energy has a 12 month low of $9.84 and a 12 month high of $26.68. The company’s market cap is $8.02 billion. The company’s 50 day moving average price is $24.90 and its 200-day moving average price is $21.04.

NRG Energy (NYSE:NRG) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.31. NRG Energy had a negative net margin of 10.67% and a positive return on equity of 12.38%. The firm had revenue of $2.70 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same quarter in the prior year, the business earned ($0.61) earnings per share. NRG Energy’s quarterly revenue was up 20.2% on a year-over-year basis. Equities analysts expect that NRG Energy will post $0.74 earnings per share for the current year.

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Several large investors have recently modified their holdings of the company. BlackRock Inc. grew its holdings in NRG Energy by 5,026.6% during the first quarter. BlackRock Inc. now owns 19,983,017 shares of the utilities provider’s stock valued at $373,684,000 after purchasing an additional 19,593,226 shares during the period. Janus Henderson Group PLC lifted its position in shares of NRG Energy by 42,970.1% in the second quarter. Janus Henderson Group PLC now owns 5,517,278 shares of the utilities provider’s stock worth $95,007,000 after purchasing an additional 5,504,468 shares in the last quarter. Permian Investment Partners LP lifted its position in shares of NRG Energy by 51.0% in the second quarter. Permian Investment Partners LP now owns 5,938,024 shares of the utilities provider’s stock worth $102,253,000 after purchasing an additional 2,005,094 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of NRG Energy by 38.6% in the second quarter. Dimensional Fund Advisors LP now owns 6,369,761 shares of the utilities provider’s stock worth $109,682,000 after purchasing an additional 1,772,966 shares in the last quarter. Finally, Balyasny Asset Management LLC lifted its position in shares of NRG Energy by 4,510.5% in the second quarter. Balyasny Asset Management LLC now owns 1,671,181 shares of the utilities provider’s stock worth $28,778,000 after purchasing an additional 1,634,934 shares in the last quarter. Institutional investors own 91.61% of the company’s stock.

About NRG Energy

NRG Energy, Inc (NRG) is an integrated power company. The Company is engaged in producing, selling and delivering electricity and related products and services in various markets in the United States. The Company’s segments include Generation, Retail, Renewables, NRG Yield, Inc (NRG Yield) and Corporate activities.

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