Brokerages Set NRG Energy Inc (NRG) Target Price at $24.38

NRG Energy Inc (NYSE:NRG) has been assigned an average recommendation of “Buy” from the twelve brokerages that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $24.38.

A number of research analysts have weighed in on the stock. ValuEngine lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Zacks Investment Research lowered shares of NRG Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 17th. SunTrust Banks reissued a “hold” rating and set a $25.00 target price on shares of NRG Energy in a research report on Friday, October 20th. Finally, Bank of America assumed coverage on shares of NRG Energy in a research report on Tuesday, October 24th. They set a “buy” rating and a $31.00 target price for the company.

NRG Energy (NYSE NRG) traded up $0.70 during trading on Monday, reaching $28.16. 8,530,000 shares of the company’s stock were exchanged, compared to its average volume of 4,920,000. The firm has a market cap of $8,920.00, a price-to-earnings ratio of -11.17 and a beta of 1.28. The company has a debt-to-equity ratio of 4.24, a quick ratio of 1.11 and a current ratio of 1.28. NRG Energy has a 52-week low of $12.14 and a 52-week high of $29.78.

NRG Energy (NYSE:NRG) last released its earnings results on Thursday, November 2nd. The utilities provider reported $0.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.12 by ($0.51). The firm had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.28 billion. NRG Energy had a positive return on equity of 8.82% and a negative net margin of 13.48%. The firm’s revenue was down 10.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.27 EPS. analysts forecast that NRG Energy will post 0.56 earnings per share for the current year.

In related news, Director Barry T. Smitherman acquired 2,541 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was acquired at an average price of $28.38 per share, with a total value of $72,113.58. Following the completion of the transaction, the director now owns 49,000 shares of the company’s stock, valued at $1,390,620. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Aviva PLC raised its position in NRG Energy by 5.5% in the second quarter. Aviva PLC now owns 196,771 shares of the utilities provider’s stock worth $3,388,000 after purchasing an additional 10,240 shares in the last quarter. Arizona State Retirement System grew its stake in NRG Energy by 0.3% during the second quarter. Arizona State Retirement System now owns 78,400 shares of the utilities provider’s stock worth $1,350,000 after buying an additional 200 shares during the last quarter. SG Americas Securities LLC grew its stake in NRG Energy by 694.4% during the second quarter. SG Americas Securities LLC now owns 73,240 shares of the utilities provider’s stock worth $1,261,000 after buying an additional 64,020 shares during the last quarter. Elliott Management Corp grew its stake in NRG Energy by 8.4% during the second quarter. Elliott Management Corp now owns 19,600,000 shares of the utilities provider’s stock worth $337,512,000 after buying an additional 1,526,394 shares during the last quarter. Finally, Dorsey Wright & Associates bought a new stake in NRG Energy during the second quarter worth about $2,199,000. 97.25% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for NRG Energy (NYSE:NRG)

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