NRG Energy (NYSE:NRG) Hits New 52-Week High - What's Next?

Shares of NRG Energy, Inc. (NYSE:NRG - Get Free Report) reached a new 52-week high on Friday . The stock traded as high as $164.47 and last traded at $162.56, with a volume of 220760 shares traded. The stock had previously closed at $161.54.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented 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. Guggenheim raised their price target on NRG Energy from $138.00 to $173.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Barclays set a $197.00 price objective on NRG Energy and gave the stock an "overweight" rating in a report on Thursday. Raymond James Financial assumed coverage on NRG Energy in a report on Friday, June 13th. They set a "strong-buy" rating and a $195.00 price objective on the stock. Finally, BMO Capital Markets reaffirmed a "market perform" rating and issued a $167.00 price objective (up previously from $115.00) on shares of NRG Energy in a research note on Wednesday, May 14th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $151.80.

NRG Energy Trading Up 1.7%

The company has a quick ratio of 1.02, a current ratio of 1.06 and a debt-to-equity ratio of 4.61. The company has a market capitalization of $32.12 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 1.22 and a beta of 1.13. The stock's fifty day moving average price is $140.57 and its two-hundred day moving average price is $112.99.

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

NRG Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were given a $0.44 dividend. The ex-dividend date was Thursday, May 1st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.07%. NRG Energy's dividend payout ratio is currently 28.39%.

Insider Activity

In related news, Director Kevin Howell sold 50,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 55,427 shares in the company, valued at $8,563,471.50. The trade was a 47.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.86% of the company's stock.

Institutional Investors Weigh In On NRG Energy

Several institutional investors have recently modified their holdings of the business. Invst LLC purchased a new position in NRG Energy in the 1st quarter worth about $685,000. Reliant Investment Partners LLC bought a new stake in shares of NRG Energy in the first quarter worth $209,000. Geneos Wealth Management Inc. increased its position in shares of NRG Energy by 136.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,336 shares of the utilities provider's stock valued at $223,000 after purchasing an additional 1,349 shares during the last quarter. Belpointe Asset Management LLC raised its position in NRG Energy by 21.0% in the first quarter. Belpointe Asset Management LLC now owns 6,312 shares of the utilities provider's stock worth $603,000 after acquiring an additional 1,094 shares during the period. Finally, Integrity Alliance LLC. bought a new position in NRG Energy in the 1st quarter worth $344,000. 97.72% of the stock is owned by hedge funds and other 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.

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