NRG Energy (NYSE:NRG) Hits New 12-Month High - Here's What Happened

Key Points

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Shares of NRG Energy, Inc. (NYSE:NRG - Get Free Report) reached a new 52-week high during trading on Thursday . The company traded as high as $168.80 and last traded at $166.83, with a volume of 3429 shares traded. The stock had previously closed at $166.59.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wall Street Zen cut shares of NRG Energy from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Wells Fargo & Company lifted their price objective on shares of NRG Energy from $165.00 to $200.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 13th. Guggenheim boosted their target price on shares of NRG Energy from $138.00 to $173.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. BMO Capital Markets reissued a "market perform" rating and issued a $167.00 target price (up previously from $115.00) on shares of NRG Energy in a research report on Wednesday, May 14th. Finally, Citigroup boosted their target price on shares of NRG Energy from $133.00 to $185.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, NRG Energy currently has a consensus rating of "Moderate Buy" and an average price target of $160.30.

NRG Energy Stock Performance

The firm has a market cap of $32.81 billion, a price-to-earnings ratio of 27.07, a P/E/G ratio of 1.39 and a beta of 1.14. The stock has a 50 day moving average of $155.33 and a 200 day moving average of $124.35. The company has a quick ratio of 1.02, a current ratio of 1.06 and a debt-to-equity ratio of 4.61.

NRG Energy (NYSE:NRG - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The utilities provider reported $2.62 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $1.90. The business had revenue of $8.59 billion during the quarter, compared to the consensus estimate of $8.28 billion. NRG Energy had a return on equity of 73.78% and a net margin of 4.66%. NRG Energy's revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.31 earnings per share. As a group, analysts anticipate that NRG Energy, Inc. will post 6.36 EPS for the current fiscal year.

NRG Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, August 1st. NRG Energy's payout ratio is 28.39%.

Insider Buying and Selling at NRG Energy

In other news, Director Kevin Howell sold 50,000 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $154.50, for a total transaction of $7,725,000.00. Following the sale, the director directly owned 55,427 shares in the company, valued at approximately $8,563,471.50. The trade was a 47.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.61% of the company's stock.

Hedge Funds Weigh In On NRG Energy

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of Jackson Hole Trust bought a new position in shares of NRG Energy during the 2nd quarter worth approximately $28,000. Jennison Associates LLC boosted its holdings in shares of NRG Energy by 87.2% during the 2nd quarter. Jennison Associates LLC now owns 529,556 shares of the utilities provider's stock worth $85,036,000 after buying an additional 246,741 shares in the last quarter. Fairfield Financial Advisors LTD boosted its holdings in shares of NRG Energy by 38.9% during the 2nd quarter. Fairfield Financial Advisors LTD now owns 3,834 shares of the utilities provider's stock worth $616,000 after buying an additional 1,073 shares in the last quarter. Trust Investment Advisors bought a new position in shares of NRG Energy during the 2nd quarter worth approximately $203,000. Finally, Reliant Investment Partners LLC raised its position in shares of NRG Energy by 12.7% during the second quarter. Reliant Investment Partners LLC now owns 2,471 shares of the utilities provider's stock worth $397,000 after purchasing an additional 279 shares during the period. 97.72% of the stock is currently owned by institutional investors.

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.