NRG Energy, Inc. (NRG) Upgraded to Buy by Zacks Investment Research
NRG Energy, Inc. (NYSE:NRG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm presently has a $27.00 price target on the utilities provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 13.07% from the company’s current price.
According to Zacks, “Shares of NRG Energy have gained more than the industry in the last six 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 ona single customer to generate revenues, therefore, migration of customers to other operators have lesser impact on its performance. However, stringent environmental regulations, fluctuating weather conditions and intense competition in the wholesale power markets are headwinds.”
Other equities analysts have also recently issued research reports about the company. BidaskClub upgraded NRG Energy from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. ValuEngine cut NRG Energy from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Williams Capital started coverage on NRG Energy in a report on Thursday, June 1st. They issued a “buy” rating and a $20.00 target price for the company. UBS AG upgraded NRG Energy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $19.00 to $20.00 in a report on Thursday, June 1st. Finally, Barclays PLC reiterated an “overweight” rating and issued a $27.00 target price on shares of NRG Energy in a report on Thursday, July 13th. They noted that the move was a valuation call. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $22.25.
Shares of NRG Energy (NRG) traded up 0.59% during mid-day trading on Tuesday, reaching $24.02. The company had a trading volume of 1,197,462 shares. NRG Energy has a 1-year low of $9.84 and a 1-year high of $26.25. The firm has a 50-day moving average price of $24.83 and a 200-day moving average price of $19.31. The stock’s market capitalization is $7.60 billion.
NRG Energy (NYSE:NRG) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.31. NRG Energy had a positive return on equity of 12.38% and a negative net margin of 10.67%. The company had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter in the previous year, the business earned ($0.61) EPS. NRG Energy’s revenue was up 20.2% compared to the same quarter last year. Equities analysts expect that NRG Energy will post $0.28 earnings per share for the current year.
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Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of NRG Energy by 1.7% in the first quarter. Vanguard Group Inc. now owns 33,215,788 shares of the utilities provider’s stock valued at $621,135,000 after purchasing an additional 556,447 shares during the period. BlackRock Inc. increased its holdings in shares of NRG Energy by 5,026.6% in 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. Elliott Management Corp increased its holdings in shares of NRG Energy by 8.4% in the second quarter. Elliott Management Corp now owns 19,600,000 shares of the utilities provider’s stock valued at $337,512,000 after purchasing an additional 1,526,394 shares during the period. Brahman Capital Corp. acquired a new position in shares of NRG Energy in the first quarter valued at about $186,827,000. Finally, FMR LLC increased its holdings in shares of NRG Energy by 8.6% in the second quarter. FMR LLC now owns 7,584,875 shares of the utilities provider’s stock valued at $130,612,000 after purchasing an additional 597,957 shares during the period. 91.65% of the stock is currently owned by institutional investors.
NRG Energy Company Profile
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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