NRG Energy Inc. (NRG) Bond Prices Rise 2.5%
An issue of NRG Energy Inc. (NYSE:NRG) bonds rose 2.5% against their face value during trading on Thursday. The high-yield issue of debt has a 6.25% coupon and will mature on May 1, 2024. The debt is now trading at $102.00 and was trading at $98.00 one week ago. Price changes in a company’s bonds in credit markets often anticipate parallel changes in its share price.
A number of research firms recently issued reports on NRG. Citigroup Inc. reduced their price objective on NRG Energy from $14.00 to $11.00 and set a “sell” rating for the company in a research report on Monday, September 12th. TheStreet lowered NRG Energy from a “hold” rating to a “sell” rating in a research report on Thursday, September 8th. Deutsche Bank AG restated a “buy” rating and set a $21.00 price objective on shares of NRG Energy in a research report on Wednesday, August 10th. Barclays PLC reduced their price objective on NRG Energy from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, August 10th. Finally, Zacks Investment Research lowered NRG Energy from a “buy” rating to a “hold” rating in a research report on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $18.82.
NRG Energy Inc. (NYSE:NRG) traded up 0.99% during mid-day trading on Friday, hitting $11.21. The stock had a trading volume of 4,397,911 shares. The stock has a 50 day moving average of $11.89 and a 200-day moving average of $13.88. The firm’s market cap is $3.53 billion. NRG Energy Inc. has a 1-year low of $8.80 and a 1-year high of $18.32.
NRG Energy (NYSE:NRG) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($0.61) EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.76. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $3.54 billion. NRG Energy had a positive return on equity of 3.12% and a negative net margin of 48.33%. The firm’s revenue was down 22.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.06) earnings per share. Analysts predict that NRG Energy Inc. will post $0.96 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in NRG. Vanguard Group Inc. raised its position in shares of NRG Energy by 23.3% in the second quarter. Vanguard Group Inc. now owns 34,317,068 shares of the company’s stock worth $514,413,000 after buying an additional 6,479,369 shares during the last quarter. Norges Bank purchased a new position in shares of NRG Energy during the fourth quarter worth approximately $33,472,000. Carlson Capital L P raised its position in shares of NRG Energy by 19.5% in the second quarter. Carlson Capital L P now owns 12,646,138 shares of the company’s stock worth $189,566,000 after buying an additional 2,064,740 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of NRG Energy by 21.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 11,318,623 shares of the company’s stock worth $169,666,000 after buying an additional 1,996,140 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of NRG Energy by 387.0% in the first quarter. Renaissance Technologies LLC now owns 2,470,716 shares of the company’s stock worth $32,144,000 after buying an additional 1,963,400 shares during the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.
About NRG Energy
NRG Energy, Inc (NRG) is an integrated power company that produces, sells and delivers energy, and energy products and services in various power markets in the United States. The Company’s segments include NRG Business, which includes power generation, the carbon capture business and energy services; NRG Home, which includes NRG Home Retail, which consists of residential retail services and products, and NRG Home Solar, which includes the installation and leasing of residential solar services; NRG Renew, which includes solar and wind assets, excluding those in the NRG Yield and NRG Home Solar segments; NRG Yield, and corporate activities.
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