NRG Energy (NYSE:NRG) Price Target Raised to $130.00 at Wells Fargo & Company

NRG Energy (NYSE:NRG) had its price target hoisted by investment analysts at Wells Fargo & Company from $120.00 to $130.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 43.81% from the stock’s current price.

Several other research firms also recently weighed in on NRG. Guggenheim raised their price objective on NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. BMO Capital Markets raised their target price on NRG Energy from $90.00 to $94.00 and gave the stock a “market perform” rating in a research report on Tuesday. StockNews.com lowered NRG Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Finally, Jefferies Financial Group assumed coverage on NRG Energy in a research report on Friday, September 13th. They set a “hold” rating and a $82.00 target price for the company. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $89.75.

NRG Energy Trading Up 2.2 %

NYSE NRG opened at $90.40 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.18 and a debt-to-equity ratio of 3.51. NRG Energy has a twelve month low of $41.57 and a twelve month high of $96.40. The company has a market cap of $18.66 billion, a price-to-earnings ratio of 9.85 and a beta of 1.10. The business’s fifty day moving average is $86.17 and its 200 day moving average is $80.86.

NRG Energy (NYSE:NRG) last released its quarterly earnings data on Thursday, August 8th. The utilities provider reported $3.37 earnings per share for the quarter, beating the consensus estimate of $1.55 by $1.82. NRG Energy had a return on equity of 43.69% and a net margin of 7.19%. The company had revenue of $6.66 billion for the quarter, compared to the consensus estimate of $8.32 billion. During the same quarter last year, the business posted $1.10 EPS. NRG Energy’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, sell-side analysts expect that NRG Energy will post 6.09 EPS for the current fiscal year.

Insider Activity at NRG Energy

In related news, insider Rasesh M. Patel sold 102,603 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $80.35, for a total value of $8,244,151.05. Following the completion of the sale, the insider now directly owns 163,680 shares of the company’s stock, valued at $13,151,688. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.61% of the stock is currently owned by corporate insiders.

Institutional Trading of NRG Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NRG. Wealth Enhancement Advisory Services LLC increased its position in NRG Energy by 4.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 31,040 shares of the utilities provider’s stock valued at $2,101,000 after buying an additional 1,383 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in NRG Energy by 885.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 237,444 shares of the utilities provider’s stock valued at $16,073,000 after purchasing an additional 213,347 shares during the last quarter. First Trust Direct Indexing L.P. boosted its stake in NRG Energy by 2.8% during the 1st quarter. First Trust Direct Indexing L.P. now owns 5,813 shares of the utilities provider’s stock valued at $393,000 after purchasing an additional 161 shares during the last quarter. Accel Wealth Management acquired a new position in NRG Energy during the 1st quarter valued at about $250,000. Finally, HB Wealth Management LLC boosted its stake in NRG Energy by 28.0% during the 1st quarter. HB Wealth Management LLC now owns 5,913 shares of the utilities provider’s stock valued at $400,000 after purchasing an additional 1,294 shares during the last quarter. 97.72% of the stock is owned by 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.