NRG Energy (NYSE:NRG) Issues FY24 Earnings Guidance

NRG Energy (NYSE:NRG) issued an update on its FY24 earnings guidance on Friday morning. The company provided EPS guidance of $5.95-$6.75 for the period, compared to the consensus EPS estimate of $6.36.

NRG Energy Stock Down 0.3 %

NRG stock opened at $96.14 on Friday. The firm has a market cap of $19.84 billion, a PE ratio of 10.47, a P/E/G ratio of 1.36 and a beta of 1.10. NRG Energy has a 12 month low of $44.90 and a 12 month high of $102.84. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.18 and a quick ratio of 1.11. The firm has a 50 day simple moving average of $87.21 and a 200 day simple moving average of $81.75.

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, topping the consensus estimate of $1.55 by $1.82. The business had revenue of $6.66 billion during the quarter, compared to analyst estimates of $8.32 billion. NRG Energy had a return on equity of 43.69% and a net margin of 7.19%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company posted $1.10 EPS. Equities research analysts forecast that NRG Energy will post 6.29 earnings per share for the current fiscal year.

NRG Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a $0.4075 dividend. The ex-dividend date is Friday, November 1st. This represents a $1.63 dividend on an annualized basis and a dividend yield of 1.70%. NRG Energy’s dividend payout ratio (DPR) is 17.76%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Jefferies Financial Group initiated 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 downgraded shares of NRG Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. BMO Capital Markets lifted their price objective on shares of NRG Energy from $90.00 to $94.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Wells Fargo & Company increased their target price on NRG Energy from $120.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Citigroup raised their target price on NRG Energy from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, NRG Energy has a consensus rating of “Hold” and an average target price of $96.00.

Insider Transactions at NRG Energy

In other news, insider Rasesh M. Patel sold 102,603 shares of NRG Energy stock in a transaction dated Friday, September 13th. The stock was 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 directly owns 163,680 shares in the company, valued at $13,151,688. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.86% of the stock is currently owned by company insiders.

NRG Energy Company Profile

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.