NRG Energy (NYSE:NRG) Given New $130.00 Price Target at Wells Fargo & Company

NRG Energy (NYSE:NRG) had its price objective upped by stock analysts at Wells Fargo & Company from $120.00 to $130.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 46.89% from the stock’s current price.

Several other equities research analysts have also recently commented on NRG. BMO Capital Markets lifted their price target 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. Jefferies Financial Group initiated coverage on shares of NRG Energy in a report on Friday, September 13th. They set a “hold” rating and a $82.00 target price for the company. StockNews.com downgraded NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Finally, Guggenheim raised their price target on NRG Energy from $77.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, NRG Energy has a consensus rating of “Hold” and an average price target of $85.00.

NRG Energy Trading Up 0.5 %

NYSE:NRG traded up $0.40 during trading hours on Wednesday, hitting $88.50. 283,364 shares of the stock were exchanged, compared to its average volume of 3,283,626. The company has a market capitalization of $18.26 billion, a P/E ratio of 9.58 and a beta of 1.10. The company has a quick ratio of 1.11, a current ratio of 1.18 and a debt-to-equity ratio of 3.51. The company’s 50 day moving average is $85.89 and its two-hundred day moving average is $80.74. NRG Energy has a twelve month low of $41.57 and a twelve month high of $96.40.

NRG Energy (NYSE:NRG) last issued its quarterly earnings results on Thursday, August 8th. The utilities provider reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $1.82. The business had revenue of $6.66 billion for 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 firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.10 earnings per share. On average, sell-side analysts anticipate that NRG Energy will post 6.09 earnings per share for the current fiscal year.

Insider Buying and Selling at NRG Energy

In related news, insider Rasesh M. Patel sold 102,603 shares of the firm’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 in the company, valued at $13,151,688. This trade represents 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 hyperlink. Insiders own 0.61% of the company’s stock.

Institutional Trading of NRG Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Banco Santander S.A. bought a new position in shares of NRG Energy during the second quarter worth about $217,671,000. Capitolis Liquid Global Markets LLC grew its stake in shares of NRG Energy by 253.2% during the 1st quarter. Capitolis Liquid Global Markets LLC now owns 1,766,000 shares of the utilities provider’s stock worth $119,541,000 after acquiring an additional 1,266,000 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of NRG Energy by 11.1% during the 1st quarter. Russell Investments Group Ltd. now owns 1,610,562 shares of the utilities provider’s stock worth $109,007,000 after acquiring an additional 160,415 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of NRG Energy by 65.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,596,684 shares of the utilities provider’s stock valued at $124,318,000 after purchasing an additional 633,765 shares during the last quarter. Finally, Zimmer Partners LP bought a new stake in shares of NRG Energy in the first quarter worth $64,306,000. Institutional investors and hedge funds own 97.72% of the company’s stock.

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.