NRG Energy (NYSE:NRG) PT Raised to $90.00 at BMO Capital Markets

NRG Energy (NYSE:NRG) had its price target boosted by analysts at BMO Capital Markets from $88.00 to $90.00 in a report issued on Monday, Benzinga reports. The firm presently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ price objective points to a potential downside of 2.86% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Jefferies Financial Group began coverage on shares of NRG Energy in a report on Friday, September 13th. They issued a “hold” rating and a $82.00 target price on the stock. StockNews.com lowered NRG Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Finally, Wells Fargo & Company lifted their price objective on NRG Energy from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $74.75.

NRG Energy Price Performance

NYSE:NRG opened at $92.65 on Monday. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.11 and a current ratio of 1.18. The company has a 50-day moving average of $80.69 and a 200-day moving average of $77.92. NRG Energy has a 52 week low of $36.61 and a 52 week high of $93.17. The company has a market capitalization of $19.32 billion, a price-to-earnings ratio of 13.12 and a beta of 1.10.

NRG Energy (NYSE:NRG) last released its quarterly earnings data on Thursday, August 8th. The utilities provider reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $1.82. The company had revenue of $6.66 billion for the quarter, compared to the consensus estimate of $8.32 billion. NRG Energy had a return on equity of 43.69% and a net margin of 7.19%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.10 earnings per share. As a group, equities research analysts anticipate that NRG Energy will post 5.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other NRG Energy news, insider Rasesh M. Patel sold 102,603 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $80.35, for a total transaction of $8,244,151.05. Following the completion of the sale, the insider now owns 163,680 shares in the company, valued at approximately $13,151,688. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On NRG Energy

Several hedge funds have recently bought and sold shares of NRG. Gotham Asset Management LLC raised its stake in NRG Energy by 93.1% during the 4th quarter. Gotham Asset Management LLC now owns 357,618 shares of the utilities provider’s stock worth $18,489,000 after buying an additional 172,400 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of NRG Energy by 885.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 237,444 shares of the utilities provider’s stock valued at $16,073,000 after purchasing an additional 213,347 shares in the last quarter. Quarry LP grew its position in shares of NRG Energy by 784.3% in the 4th quarter. Quarry LP now owns 10,912 shares of the utilities provider’s stock valued at $564,000 after purchasing an additional 9,678 shares during the period. Quadrature Capital Ltd raised its holdings in NRG Energy by 148.6% during the 1st quarter. Quadrature Capital Ltd now owns 21,814 shares of the utilities provider’s stock worth $1,477,000 after buying an additional 13,040 shares during the period. Finally, Cetera Investment Advisers lifted its stake in NRG Energy by 104.5% in the first quarter. Cetera Investment Advisers now owns 73,865 shares of the utilities provider’s stock valued at $5,000,000 after buying an additional 37,750 shares in the last quarter. 97.72% of the stock is currently owned by institutional investors and hedge funds.

About NRG Energy

NRG Energy, Inc, together with its subsidiaries, operates as an energy and home services company in the United States and Canada. It operates through Texas; East; West/Services/Other; Vivint Smart Home; and Corporate Activities segments. The company produces and sells electricity generated using coal, oil, solar, and battery storage; natural gas; and a cloud-based home platform, including hardware, software, sales, installation, customer service, technical support, and professional monitoring solutions.