NRG Energy (NYSE:NRG) Given New $90.00 Price Target at BMO Capital Markets

NRG Energy (NYSE:NRG) had its price objective upped by BMO Capital Markets from $88.00 to $90.00 in a research report sent to investors on Monday, Benzinga reports. BMO Capital Markets currently has a market perform rating on the utilities provider’s stock.

NRG has been the subject of a number of other research reports. Jefferies Financial Group initiated coverage on shares of NRG Energy in a report on Friday, September 13th. They issued a hold rating and a $82.00 price target for the company. Wells Fargo & Company raised their price objective on shares of NRG Energy from $110.00 to $120.00 and gave the company an overweight rating in a research note on Thursday, September 5th. Finally, StockNews.com cut shares of NRG Energy from a buy rating to a hold rating in a research note on Monday, September 2nd. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, NRG Energy currently has a consensus rating of Hold and an average target price of $74.75.

NRG Energy Stock Down 0.2 %

NYSE NRG opened at $92.49 on Monday. NRG Energy has a twelve month low of $36.61 and a twelve month high of $93.46. 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 stock has a market cap of $19.28 billion, a PE ratio of 13.10 and a beta of 1.10. The firm has a 50-day simple moving average of $81.05 and a 200 day simple moving average of $78.02.

NRG Energy (NYSE:NRG) last posted 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 company had revenue of $6.66 billion during the quarter, compared to analyst estimates of $8.32 billion. NRG Energy had a net margin of 7.19% and a return on equity of 43.69%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $1.10 earnings per share. On average, research analysts forecast that NRG Energy will post 5.51 EPS for the current year.

NRG Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were paid a $0.4075 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.63 annualized dividend and a yield of 1.76%. NRG Energy’s payout ratio is currently 23.09%.

Insider Buying and Selling at NRG Energy

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Centaurus Financial Inc. acquired a new position in shares of NRG Energy during the 2nd quarter worth about $111,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of NRG Energy during the 2nd quarter worth about $1,412,000. Newbridge Financial Services Group Inc. bought a new stake in shares of NRG Energy during the 2nd quarter worth about $132,000. Sanctuary Advisors LLC bought a new stake in shares of NRG Energy during the 2nd quarter worth about $1,120,000. Finally, Clearbridge Investments LLC bought a new stake in shares of NRG Energy during the 2nd quarter worth about $1,012,000. 97.72% 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 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.