NRG Energy (NYSE:NRG) Shares Gap Up to $31.48

Posted by Defense World Staff on Mar 22nd, 2023

NRG Energy, Inc. (NYSE:NRG – Get Rating)’s share price gapped up before the market opened on Monday . The stock had previously closed at $31.48, but opened at $32.57. NRG Energy shares last traded at $33.47, with a volume of 900,402 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NRG shares. TheStreet lowered shares of NRG Energy from a “b-” rating to a “c” rating in a research report on Thursday, February 16th. StockNews.com started coverage on shares of NRG Energy in a report on Thursday, March 16th. They issued a “sell” rating for the company. UBS Group lowered shares of NRG Energy from a “neutral” rating to a “sell” rating in a report on Wednesday, December 7th. BMO Capital Markets lowered their price objective on shares of NRG Energy from $46.00 to $43.00 in a report on Thursday, December 8th. Finally, Bank of America upgraded shares of NRG Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $35.00 to $36.00 in a report on Monday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $41.00.

NRG Energy Trading Down 1.3 %

The company has a debt-to-equity ratio of 2.08, a current ratio of 1.25 and a quick ratio of 1.19. The firm’s 50 day moving average is $33.31 and its 200 day moving average is $37.35. The company has a market capitalization of $7.71 billion, a PE ratio of 6.56, a P/E/G ratio of 6.05 and a beta of 0.99.

NRG Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 15th. Investors of record on Wednesday, February 1st were paid a $0.3775 dividend. This represents a $1.51 annualized dividend and a dividend yield of 4.55%. This is an increase from NRG Energy’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Tuesday, January 31st. NRG Energy’s payout ratio is presently 29.84%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Coppell Advisory Solutions Corp. purchased a new position in NRG Energy during the 4th quarter valued at $25,000. Cowa LLC purchased a new position in NRG Energy during the 3rd quarter valued at $27,000. OLD Mission Capital LLC purchased a new position in NRG Energy during the 4th quarter valued at $31,000. Kistler Tiffany Companies LLC increased its position in NRG Energy by 92.7% during the 3rd quarter. Kistler Tiffany Companies LLC now owns 867 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 417 shares during the period. Finally, Dark Forest Capital Management LP purchased a new position in NRG Energy during the 4th quarter valued at $37,000. 99.98% of the stock is owned by hedge funds and other institutional investors.

NRG Energy Company Profile

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NRG Energy, Inc engages in the production, sale, and distribution of energy and energy services. It operates through the following segments: Generation, Retail, and Corporate. The Generation segment includes all power plant activities, domestic and international, as well as renewables. The Retail segment includes mass customers and business solutions, and other distributed and reliability products.