NRG Energy (NYSE:NRG)‘s stock had its “hold” rating reaffirmed by research analysts at SunTrust Banks in a research report issued on Thursday. They currently have a $29.00 price target on the utilities provider’s stock. SunTrust Banks’ price objective would suggest a potential downside of 4.04% from the stock’s current price.
NRG has been the topic of a number of other research reports. UBS began coverage on NRG Energy in a research note on Friday, February 23rd. They issued a “buy” rating and a $33.00 price target on the stock. ValuEngine cut NRG Energy from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Zacks Investment Research cut NRG Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 3rd. Finally, TheStreet cut NRG Energy from a “c” rating to a “d+” rating in a research note on Thursday, March 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $27.25.
Shares of NRG stock traded up $0.05 during trading on Thursday, hitting $30.22. The stock had a trading volume of 549,448 shares, compared to its average volume of 6,077,829. NRG Energy has a one year low of $14.52 and a one year high of $30.84. The company has a market cap of $9,624.43, a PE ratio of -4.43 and a beta of 1.10. The company has a current ratio of 1.33, a quick ratio of 1.17 and a debt-to-equity ratio of 7.99.
NRG Energy (NYSE:NRG) last posted its quarterly earnings results on Thursday, March 1st. The utilities provider reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.59. NRG Energy had a positive return on equity of 9.46% and a negative net margin of 19.56%. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.23 billion. analysts forecast that NRG Energy will post 2.61 earnings per share for the current fiscal year.
NRG Energy declared that its Board of Directors has approved a share repurchase plan on Thursday, March 1st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the utilities provider to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently modified their holdings of NRG. Tiedemann Wealth Management LLC grew its holdings in NRG Energy by 49.3% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 18,199 shares of the utilities provider’s stock valued at $101,000 after buying an additional 6,011 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in NRG Energy by 3,685.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,785 shares of the utilities provider’s stock valued at $108,000 after buying an additional 3,685 shares in the last quarter. Invictus RG acquired a new position in NRG Energy in the 3rd quarter valued at $110,000. NuWave Investment Management LLC acquired a new position in NRG Energy in the 4th quarter valued at $116,000. Finally, Itau Unibanco Holding S.A. grew its holdings in NRG Energy by 122.7% in the 4th quarter. Itau Unibanco Holding S.A. now owns 4,815 shares of the utilities provider’s stock valued at $137,000 after buying an additional 2,653 shares in the last quarter. 97.31% of the stock is currently owned by hedge funds and other institutional investors.
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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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