FY2024 EPS Estimates for NRG Energy, Inc. Lifted by Analyst (NYSE:NRG)

NRG Energy, Inc. (NYSE:NRG) – Analysts at Seaport Res Ptn increased their FY2024 earnings estimates for shares of NRG Energy in a note issued to investors on Sunday, April 14th. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will post earnings of $6.15 per share for the year, up from their previous forecast of $6.09. The consensus estimate for NRG Energy’s current full-year earnings is $5.39 per share. Seaport Res Ptn also issued estimates for NRG Energy’s FY2026 earnings at $8.18 EPS and FY2027 earnings at $9.72 EPS.

NRG Energy (NYSE:NRG) last posted its quarterly earnings data on Wednesday, February 28th. The utilities provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.20. NRG Energy had a negative net margin of 0.70% and a positive return on equity of 44.03%. The firm had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $7.51 billion.

A number of other analysts have also commented on the stock. Citigroup lifted their target price on shares of NRG Energy from $52.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Evercore ISI lifted their target price on shares of NRG Energy from $55.00 to $65.00 and gave the stock an “in-line” rating in a report on Monday, March 18th. StockNews.com raised shares of NRG Energy from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. Morgan Stanley lifted their target price on shares of NRG Energy from $51.00 to $63.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 26th. Finally, TheStreet raised shares of NRG Energy from a “c+” rating to a “b” rating in a report on Friday, December 29th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, NRG Energy currently has an average rating of “Hold” and an average target price of $59.50.

NRG Energy Price Performance

NRG opened at $70.52 on Wednesday. The company has a fifty day moving average price of $62.81 and a two-hundred day moving average price of $52.79. The company has a debt-to-equity ratio of 4.49, a quick ratio of 0.96 and a current ratio of 1.02. NRG Energy has a 52 week low of $30.52 and a 52 week high of $76.54. The firm has a market capitalization of $15.14 billion, a PE ratio of -65.91 and a beta of 1.13.

Hedge Funds Weigh In On NRG Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC lifted its position in 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 worth $16,073,000 after buying an additional 213,347 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in NRG Energy by 4.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 31,040 shares of the utilities provider’s stock worth $2,101,000 after buying an additional 1,383 shares in the last quarter. GoalVest Advisory LLC bought a new stake in NRG Energy during the 1st quarter worth about $1,344,000. Atlas Capital Advisors LLC lifted its position in NRG Energy by 209.6% during the 1st quarter. Atlas Capital Advisors LLC now owns 1,938 shares of the utilities provider’s stock worth $131,000 after buying an additional 1,312 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC lifted its position in NRG Energy by 0.8% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 23,267 shares of the utilities provider’s stock worth $1,575,000 after buying an additional 174 shares in the last quarter. 97.72% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Rasesh M. Patel sold 49,092 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $62.59, for a total value of $3,072,668.28. Following the completion of the transaction, the vice president now directly owns 356,962 shares of the company’s stock, valued at approximately $22,342,251.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.86% of the company’s stock.

NRG Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a yield of 2.31%. NRG Energy’s payout ratio is presently -152.34%.

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.