NRG Energy (NYSE:NRG) Earns Buy Rating from Analysts at Melius

Key Points

• Melius has initiated coverage on NRG Energy, setting a "buy" rating with a price target of $308.00, indicating a potential upside of 107.69% from the stock's previous close.
• Analysts are generally optimistic about NRG Energy, with an average rating of "Moderate Buy" and a consensus target price of $175.91.
• NRG Energy's recent earnings report showed a miss on EPS estimates, reporting $1.68, but revenue was up 1.2% year-over-year at $6.74 billion.

Melius began coverage on shares of NRG Energy (NYSE:NRG - Get Free Report) in a report issued on Wednesday,Briefing.com Automated Import reports. The firm set a "buy" rating and a $308.00 price target on the utilities provider's stock. Melius' target price would suggest a potential upside of 107.69% from the company's previous close.

Several other brokerages also recently weighed in on NRG. Jefferies Financial Group increased their price target on shares of NRG Energy from $113.00 to $132.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Wall Street Zen downgraded shares of NRG Energy from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Citigroup upped their price objective on NRG Energy from $133.00 to $185.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Guggenheim raised their price objective on shares of NRG Energy from $138.00 to $173.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Finally, Raymond James Financial started coverage on shares of NRG Energy in a research note on Friday, June 13th. They set a "strong-buy" rating and a $195.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, NRG Energy has an average rating of "Moderate Buy" and a consensus target price of $175.91.

NRG Energy Price Performance

Shares of NYSE NRG opened at $148.2990 on Wednesday. NRG Energy has a 52 week low of $76.13 and a 52 week high of $175.96. The business's 50 day moving average price is $155.19 and its 200 day moving average price is $128.39. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 5.99. The firm has a market cap of $28.69 billion, a P/E ratio of 67.10, a P/E/G ratio of 1.23 and a beta of 1.14.

NRG Energy (NYSE:NRG - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $1.68 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.04). NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.The business had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.63 billion. During the same quarter last year, the company posted $3.37 EPS. NRG Energy's quarterly revenue was up 1.2% compared to the same quarter last year. On average, sell-side analysts expect that NRG Energy will post 6.36 earnings per share for the current year.

Insider Transactions at NRG Energy

In related news, Director Kevin Howell sold 50,000 shares of NRG Energy stock in a transaction on Friday, May 30th. The shares were sold at an average price of $154.50, for a total value of $7,725,000.00. Following the sale, the director owned 55,427 shares of the company's stock, valued at approximately $8,563,471.50. This trade represents a 47.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.61% of the company's stock.

Institutional Investors Weigh In On NRG Energy

A number of institutional investors have recently added to or reduced their stakes in NRG. Brighton Jones LLC grew its stake in NRG Energy by 41.8% in the 4th quarter. Brighton Jones LLC now owns 5,187 shares of the utilities provider's stock valued at $468,000 after acquiring an additional 1,528 shares during the period. Mariner LLC boosted its stake in NRG Energy by 17.4% during the 4th quarter. Mariner LLC now owns 26,610 shares of the utilities provider's stock worth $2,401,000 after purchasing an additional 3,948 shares during the last quarter. Jump Financial LLC boosted its stake in NRG Energy by 18.8% during the 4th quarter. Jump Financial LLC now owns 6,734 shares of the utilities provider's stock worth $608,000 after purchasing an additional 1,064 shares during the last quarter. First Trust Advisors LP boosted its stake in NRG Energy by 60.3% during the 4th quarter. First Trust Advisors LP now owns 464,341 shares of the utilities provider's stock worth $41,893,000 after purchasing an additional 174,759 shares during the last quarter. Finally, MML Investors Services LLC boosted its stake in NRG Energy by 66.5% during the 4th quarter. MML Investors Services LLC now owns 28,120 shares of the utilities provider's stock worth $2,537,000 after purchasing an additional 11,234 shares during the last quarter. 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.

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