Wells Fargo & Company Increases NRG Energy (NYSE:NRG) Price Target to $140.00

NRG Energy (NYSE:NRG) had its price target raised by Wells Fargo & Company from $130.00 to $140.00 in a report published on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the utilities provider’s stock.

Several other equities research analysts also recently commented on the stock. Citigroup upped their price target on shares of NRG Energy from $84.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. BMO Capital Markets lifted their price target on NRG Energy from $90.00 to $94.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. StockNews.com downgraded NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Guggenheim lifted their target price on NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, Jefferies Financial Group began coverage on shares of NRG Energy in a research report on Friday, September 13th. They issued a “hold” rating and a $82.00 price target for the company. Five 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.com, the company currently has a consensus rating of “Hold” and an average target price of $97.43.

NRG Energy Price Performance

Shares of NYSE:NRG opened at $91.64 on Monday. The stock’s 50 day moving average price is $88.19 and its 200 day moving average price is $82.25. The company has a debt-to-equity ratio of 5.57, a current ratio of 1.17 and a quick ratio of 1.10. The stock has a market cap of $18.56 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 1.35 and a beta of 1.10. NRG Energy has a 12 month low of $44.90 and a 12 month high of $102.84.

NRG Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Friday, November 1st. NRG Energy’s dividend payout ratio (DPR) is presently 40.95%.

Insider Transactions at NRG Energy

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 sale, the insider now directly owns 163,680 shares of the company’s stock, valued at approximately $13,151,688. This represents a 38.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.86% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NRG. Envestnet Portfolio Solutions Inc. raised its stake in NRG Energy by 14.7% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 4,880 shares of the utilities provider’s stock valued at $330,000 after purchasing an additional 624 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of NRG Energy during the 1st quarter worth approximately $774,000. Concurrent Investment Advisors LLC boosted its position in shares of NRG Energy by 27.9% during the 1st quarter. Concurrent Investment Advisors LLC now owns 5,163 shares of the utilities provider’s stock worth $349,000 after acquiring an additional 1,126 shares in the last quarter. Entropy Technologies LP acquired a new position in NRG Energy during the first quarter valued at approximately $1,112,000. Finally, Patton Fund Management Inc. bought a new stake in NRG Energy during the first quarter worth $8,019,000. 97.72% of the stock is owned by institutional investors.

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.