NRG Energy Inc. (NRG) Downgraded by Bank of America Corp. to Neutral
Other analysts have also issued research reports about the stock. Barclays PLC dropped their price objective on shares of NRG Energy from $20.00 to $18.00 and set an overweight rating on the stock in a research note on Wednesday, August 10th. Citigroup Inc. raised shares of NRG Energy from a sell rating to a neutral rating and set a $11.00 price objective for the company in a report on Monday, November 7th. Zacks Investment Research downgraded shares of NRG Energy from a buy rating to a hold rating in a report on Thursday, July 28th. TheStreet downgraded shares of NRG Energy from a hold rating to a sell rating in a report on Thursday, September 8th. Finally, Deutsche Bank AG reissued a buy rating and set a $21.00 price target on shares of NRG Energy in a report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $16.42.
Shares of NRG Energy (NYSE:NRG) traded up 0.37% during trading on Tuesday, reaching $10.95. 476,166 shares of the company’s stock were exchanged. NRG Energy has a 52 week low of $8.80 and a 52 week high of $18.32. The stock has a 50 day moving average price of $11.11 and a 200-day moving average price of $13.20. The stock’s market capitalization is $3.45 billion.
NRG Energy (NYSE:NRG) last announced its quarterly earnings data on Friday, November 4th. The company reported $1.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.48. NRG Energy had a negative net margin of 47.59% and a positive return on equity of 10.15%. The business had revenue of $3.95 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period in the prior year, the firm posted $0.65 EPS. The company’s revenue was down 10.9% on a year-over-year basis. Analysts predict that NRG Energy will post $0.92 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Tuesday, November 1st were paid a $0.03 dividend. The ex-dividend date of this dividend was Friday, October 28th. This represents a $0.12 annualized dividend and a dividend yield of 1.10%. NRG Energy’s payout ratio is -0.66%.
Several large investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its stake in NRG Energy by 27.0% in the third quarter. Price T Rowe Associates Inc. MD now owns 37,901,769 shares of the company’s stock valued at $424,879,000 after buying an additional 8,059,744 shares during the period. Sunnymeath Asset Management Inc. bought a new stake in NRG Energy during the third quarter valued at $146,000. Credit Suisse AG raised its stake in NRG Energy by 3.3% in the third quarter. Credit Suisse AG now owns 1,900,829 shares of the company’s stock valued at $21,307,000 after buying an additional 59,892 shares during the period. Verition Fund Management LLC bought a new stake in NRG Energy during the third quarter valued at $360,000. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in NRG Energy by 9.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 698,071 shares of the company’s stock valued at $7,825,000 after buying an additional 59,010 shares during the period. 96.86% of the stock is owned by institutional investors and hedge funds.
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NRG Energy Company Profile
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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