NRG Energy, Inc. (NYSE:NRG – Free Report) – Equities research analysts at Seaport Res Ptn decreased their FY2023 earnings per share estimates for shares of NRG Energy in a research report issued to clients and investors on Wednesday, September 20th. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will earn $4.84 per share for the year, down from their prior estimate of $4.92. The consensus estimate for NRG Energy’s current full-year earnings is $4.51 per share. Seaport Res Ptn also issued estimates for NRG Energy’s FY2024 earnings at $6.02 EPS, FY2025 earnings at $7.44 EPS, FY2026 earnings at $9.35 EPS and FY2027 earnings at $11.23 EPS.
A number of other research firms have also recently issued reports on NRG. Bank of America increased their target price on NRG Energy from $43.00 to $46.00 in a report on Thursday, July 20th. BMO Capital Markets increased their target price on NRG Energy from $45.00 to $46.00 and gave the stock a “market perform” rating in a report on Wednesday, August 9th. Finally, StockNews.com assumed coverage on NRG Energy in a report on Thursday, August 17th. They issued a “sell” rating for the company. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, NRG Energy currently has a consensus rating of “Hold” and an average price target of $44.00.
NRG Energy Price Performance
NRG stock opened at $38.63 on Monday. The stock has a 50-day moving average price of $37.81 and a two-hundred day moving average price of $35.42. The stock has a market cap of $8.85 billion, a PE ratio of -4.37, a price-to-earnings-growth ratio of 2.11 and a beta of 1.03. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 4.00. NRG Energy has a 1 year low of $30.25 and a 1 year high of $45.80.
NRG Energy (NYSE:NRG – Get Free Report) last released its earnings results on Tuesday, August 8th. The utilities provider reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.47 by ($1.22). The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $7.73 billion. NRG Energy had a positive return on equity of 25.82% and a negative net margin of 6.75%. NRG Energy’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same quarter last year, the company posted $0.33 EPS.
NRG Energy Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st were issued a $0.3775 dividend. This is a boost from NRG Energy’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Monday, July 31st. This represents a $1.51 annualized dividend and a dividend yield of 3.91%. NRG Energy’s dividend payout ratio (DPR) is presently -17.08%.
Hedge Funds Weigh In On NRG Energy
Several hedge funds have recently modified their holdings of NRG. Coppell Advisory Solutions Corp. bought a new position in shares of NRG Energy in the 4th quarter valued at about $25,000. Trust Co. of Vermont acquired a new stake in NRG Energy in the 1st quarter valued at about $26,000. OLD Mission Capital LLC acquired a new stake in NRG Energy in the 4th quarter valued at about $31,000. West Oak Capital LLC lifted its stake in NRG Energy by 233.3% in the 1st quarter. West Oak Capital LLC now owns 1,000 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 700 shares during the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in NRG Energy in the 4th quarter valued at about $37,000. Institutional investors own 97.72% of the company’s stock.
About NRG Energy
NRG Energy, Inc, together with its subsidiaries, operates as an integrated power company in the United States. It operates through Texas, East, and West segments. The company is involved in producing and selling electricity and related products and services to approximately residential, commercial, industrial, and wholesale customers.
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