NRG Energy, Inc. (NYSE:NRG) Declares $0.41 Quarterly Dividend

NRG Energy, Inc. (NYSE:NRG) declared a quarterly dividend on Friday, October 11th, RTT News reports. Investors of record on Friday, November 1st will be paid a dividend of 0.4075 per share by the utilities provider on Friday, November 15th. This represents a $1.63 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Friday, November 1st.

NRG Energy has raised its dividend by an average of 8.0% annually over the last three years. NRG Energy has a payout ratio of 24.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect NRG Energy to earn $6.46 per share next year, which means the company should continue to be able to cover its $1.63 annual dividend with an expected future payout ratio of 25.2%.

NRG Energy Stock Up 0.4 %

Shares of NYSE:NRG opened at $88.45 on Thursday. NRG Energy has a 12-month low of $41.57 and a 12-month high of $96.40. The company has a current ratio of 1.18, a quick ratio of 1.11 and a debt-to-equity ratio of 3.51. The stock’s 50-day moving average price is $86.00 and its 200-day moving average price is $80.79. The stock has a market capitalization of $18.25 billion, a P/E ratio of 9.64 and a beta of 1.10.

NRG Energy (NYSE:NRG) last announced its quarterly earnings results on Thursday, August 8th. The utilities provider reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $1.82. NRG Energy had a return on equity of 43.69% and a net margin of 7.19%. The business had revenue of $6.66 billion for the quarter, compared to analysts’ expectations of $8.32 billion. During the same period in the previous year, the firm earned $1.10 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities analysts anticipate that NRG Energy will post 6.09 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Rasesh M. Patel sold 102,603 shares of NRG Energy stock in a transaction on Friday, September 13th. The stock was sold at an average price of $80.35, for a total value of $8,244,151.05. Following the completion of the sale, the insider now owns 163,680 shares of the company’s stock, valued at $13,151,688. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.61% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Jefferies Financial Group assumed coverage on shares of NRG Energy in a research note on Friday, September 13th. They set a “hold” rating and a $82.00 price objective for the company. StockNews.com lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. BMO Capital Markets increased their target price on NRG Energy from $90.00 to $94.00 and gave the stock a “market perform” rating in a research report on Tuesday. Wells Fargo & Company upped their price target on NRG Energy from $120.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Guggenheim lifted their price objective on NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $85.00.

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.