NRG Energy (NYSE:NRG) Upgraded by Zacks Research to Strong-Buy Rating

Key Points

• NRG Energy has been upgraded to a "strong-buy" rating by Zacks Research, indicating a positive outlook for the stock.
• Analysts have set target prices for NRG Energy, with Barclays raising it to $203.00 and Citigroup increasing it to $185.00, while Melius set an ambitious price target of $308.00.
• Despite its positive ratings, NRG Energy's stock dropped by 0.9% recently, closing at $169.72 on Wednesday.

NRG Energy (NYSE:NRG - Get Free Report) was upgraded by equities researchers at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued on Wednesday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the stock. Barclays raised their target price on shares of NRG Energy from $197.00 to $203.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Weiss Ratings reissued a "hold (c)" rating on shares of NRG Energy in a report on Wednesday, October 8th. Citigroup raised their target price on shares of NRG Energy from $133.00 to $185.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Melius assumed coverage on shares of NRG Energy in a report on Wednesday, August 20th. They issued a "buy" rating and a $308.00 target price on the stock. Finally, Melius Research assumed coverage on NRG Energy in a report on Wednesday, August 20th. They set a "buy" rating and a $308.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $188.85.

NRG Energy Stock Down 0.9%

NYSE:NRG opened at $169.72 on Wednesday. The company has a market capitalization of $32.83 billion, a price-to-earnings ratio of 76.80, a price-to-earnings-growth ratio of 1.37 and a beta of 1.14. NRG Energy has a one year low of $79.57 and a one year high of $175.96. The stock has a 50-day simple moving average of $157.75 and a 200 day simple moving average of $145.04. The company has a debt-to-equity ratio of 5.99, a quick ratio of 0.88 and a current ratio of 0.93.

NRG Energy (NYSE:NRG - Get Free Report) last issued its earnings results on Wednesday, August 6th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $6.63 billion. During the same period in the prior year, the business earned $3.37 EPS. The business's revenue was up 1.2% on a year-over-year basis. Sell-side analysts predict that NRG Energy will post 6.36 EPS for the current fiscal year.

Insider Buying and Selling at NRG Energy

In related news, VP Dak Liyanearachchi sold 10,672 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $155.00, for a total transaction of $1,654,160.00. Following the transaction, the vice president owned 48,571 shares in the company, valued at $7,528,505. This trade represents a 18.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.86% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NRG. Goldman Sachs Group Inc. increased its stake in shares of NRG Energy by 468.4% during the first quarter. Goldman Sachs Group Inc. now owns 4,757,735 shares of the utilities provider's stock valued at $454,173,000 after acquiring an additional 6,049,247 shares during the period. Amundi grew its position in NRG Energy by 772.5% in the first quarter. Amundi now owns 4,378,022 shares of the utilities provider's stock worth $406,342,000 after buying an additional 3,876,235 shares during the last quarter. Boston Partners grew its position in NRG Energy by 169.5% in the first quarter. Boston Partners now owns 2,817,018 shares of the utilities provider's stock worth $269,230,000 after buying an additional 1,771,829 shares during the last quarter. Nuveen LLC acquired a new position in NRG Energy in the first quarter worth approximately $93,075,000. Finally, Holocene Advisors LP grew its position in NRG Energy by 113.3% in the second quarter. Holocene Advisors LP now owns 1,444,271 shares of the utilities provider's stock worth $231,921,000 after buying an additional 767,014 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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