SunTrust Banks Boosts NRG Energy (NRG) Price Target to $36.00

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NRG Energy (NYSE:NRG) had its price objective lifted by SunTrust Banks from $35.00 to $36.00 in a report released on Monday morning. They currently have a hold rating on the utilities provider’s stock.

Several other research firms have also issued reports on NRG. Citigroup lowered shares of NRG Energy from a buy rating to a neutral rating and set a $33.00 price target on the stock. in a research report on Monday, July 30th. ValuEngine raised shares of NRG Energy from a hold rating to a buy rating in a research report on Saturday, October 6th. Zacks Investment Research raised shares of NRG Energy from a hold rating to a strong-buy rating and set a $35.00 price target on the stock in a research report on Monday, July 9th. Macquarie boosted their price target on shares of NRG Energy from $40.00 to $41.00 and gave the company an outperform rating in a research report on Thursday, September 20th. Finally, Bank of America boosted their price target on shares of NRG Energy from $40.00 to $42.00 and gave the company a buy rating in a research report on Thursday, September 27th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $38.17.

Shares of NRG stock opened at $36.33 on Monday. The stock has a market capitalization of $10.84 billion, a price-to-earnings ratio of 33.33 and a beta of 1.06. The company has a debt-to-equity ratio of 7.16, a quick ratio of 1.17 and a current ratio of 1.30. NRG Energy has a 52 week low of $23.75 and a 52 week high of $38.25.

NRG Energy (NYSE:NRG) last posted its quarterly earnings results on Thursday, August 2nd. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.55). NRG Energy had a negative net margin of 9.30% and a positive return on equity of 29.44%. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.72 billion. During the same period last year, the firm earned $0.36 EPS. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. Research analysts predict that NRG Energy will post 2.5 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, November 1st will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date is Wednesday, October 31st. NRG Energy’s dividend payout ratio (DPR) is presently 11.01%.

In related news, EVP Elizabeth R. Killinger sold 24,600 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $35.84, for a total transaction of $881,664.00. Following the sale, the executive vice president now owns 106,125 shares of the company’s stock, valued at approximately $3,803,520. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP David Callen sold 9,200 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $33.21, for a total transaction of $305,532.00. Following the sale, the senior vice president now directly owns 39,759 shares in the company, valued at approximately $1,320,396.39. The disclosure for this sale can be found here. Insiders have sold a total of 92,975 shares of company stock worth $3,265,286 in the last ninety days. 0.38% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the stock. Ladenburg Thalmann Financial Services Inc. grew its stake in NRG Energy by 29.0% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,442 shares of the utilities provider’s stock worth $258,000 after buying an additional 1,898 shares in the last quarter. Principal Financial Group Inc. grew its stake in NRG Energy by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 470,068 shares of the utilities provider’s stock worth $14,351,000 after buying an additional 11,805 shares in the last quarter. Allianz Asset Management GmbH grew its stake in NRG Energy by 202.6% in the 1st quarter. Allianz Asset Management GmbH now owns 48,461 shares of the utilities provider’s stock worth $1,480,000 after buying an additional 32,447 shares in the last quarter. Cerebellum GP LLC purchased a new position in NRG Energy in the 2nd quarter worth approximately $168,000. Finally, Dorsey Wright & Associates grew its stake in NRG Energy by 1.5% in the 2nd quarter. Dorsey Wright & Associates now owns 136,276 shares of the utilities provider’s stock worth $4,184,000 after buying an additional 2,008 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

NRG Energy Company Profile

NRG Energy, Inc, together with its subsidiaries, operates as an integrated power company in the United States. The company is involved in the generation of electricity using fossil fuel and nuclear sources. The company provides electricity to 2.9 million residential, commercial, and industrial consumers; system power, distributed generation, solar and wind products, backup generation, storage and distributed solar, demand response, energy efficiency, and on-site energy solutions; and carbon management and specialty services.

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