NRG Energy, Inc. (NYSE:NRG) to Post FY2024 Earnings of $6.15 Per Share, Seaport Res Ptn Forecasts

NRG Energy, Inc. (NYSE:NRG) – Stock analysts at Seaport Res Ptn upped their FY2024 earnings per share (EPS) estimates for NRG Energy in a report issued on Sunday, April 14th. Seaport Res Ptn analyst A. Storozynski now expects that the utilities provider will earn $6.15 per share for the year, up from their previous forecast of $6.09. The consensus estimate for NRG Energy’s current full-year earnings is $5.36 per share. Seaport Res Ptn also issued estimates for NRG Energy’s FY2026 earnings at $8.18 EPS and FY2027 earnings at $9.72 EPS.

Several other analysts have also recently issued reports on the company. Wells Fargo & Company upped their price objective on NRG Energy from $78.00 to $85.00 and gave the company an “overweight” rating in a research note on Monday, March 25th. BMO Capital Markets increased their price objective on NRG Energy from $58.00 to $59.00 and gave the stock a “market perform” rating in a report on Thursday, February 29th. Citigroup increased their price objective on NRG Energy from $52.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Morgan Stanley increased their price objective on NRG Energy from $51.00 to $63.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 26th. Finally, Evercore ISI increased their price objective on NRG Energy from $55.00 to $65.00 and gave the stock an “in-line” rating in a report on Monday, March 18th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $59.50.

NRG Energy Stock Down 1.5 %

NYSE NRG traded down $1.10 on Wednesday, hitting $73.42. 4,216,828 shares of the stock traded hands, compared to its average volume of 3,693,877. The stock has a 50-day moving average of $62.04 and a 200 day moving average of $52.52. NRG Energy has a twelve month low of $30.52 and a twelve month high of $76.54. The company has a market capitalization of $15.77 billion, a P/E ratio of -69.66 and a beta of 1.13. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 4.49.

NRG Energy (NYSE:NRG) last released its quarterly earnings results on Wednesday, February 28th. The utilities provider reported $1.14 EPS for the quarter, topping the consensus estimate of $0.94 by $0.20. NRG Energy had a positive return on equity of 44.03% and a negative net margin of 0.70%. The business had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $7.51 billion.

NRG Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a dividend yield of 2.22%. NRG Energy’s dividend payout ratio is -152.34%.

Insider Buying and Selling

In related news, VP Rasesh M. Patel sold 49,092 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $62.59, for a total transaction of $3,072,668.28. Following the completion of the sale, the vice president now directly owns 356,962 shares in the company, valued at $22,342,251.58. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NRG Energy

Hedge funds have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC grew its position in shares of NRG Energy by 4.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 31,040 shares of the utilities provider’s stock valued at $2,101,000 after purchasing an additional 1,383 shares during the last quarter. GoalVest Advisory LLC acquired a new stake in shares of NRG Energy in the first quarter valued at about $1,344,000. Atlas Capital Advisors LLC grew its position in shares of NRG Energy by 209.6% in the first quarter. Atlas Capital Advisors LLC now owns 1,938 shares of the utilities provider’s stock valued at $131,000 after purchasing an additional 1,312 shares during the last quarter. Kingswood Wealth Advisors LLC grew its position in shares of NRG Energy by 0.8% in the first quarter. Kingswood Wealth Advisors LLC now owns 23,267 shares of the utilities provider’s stock valued at $1,575,000 after purchasing an additional 174 shares during the last quarter. Finally, Worth Asset Management LLC acquired a new stake in shares of NRG Energy in the first quarter valued at about $223,000. 97.72% of the stock is owned by institutional investors and hedge funds.

About NRG Energy

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.