NRG Energy (NYSE:NRG) Releases FY24 Earnings Guidance

NRG Energy (NYSE:NRG) issued an update on its FY24 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $5.95-$6.75 for the period, compared to the consensus estimate of $6.36.

NRG Energy Stock Down 0.3 %

NYSE:NRG opened at $96.14 on Friday. The firm has a market capitalization of $19.84 billion, a PE ratio of 10.47, a price-to-earnings-growth ratio of 1.36 and a beta of 1.10. The stock has a 50 day moving average of $87.21 and a 200-day moving average of $81.75. NRG Energy has a 52 week low of $44.90 and a 52 week high of $102.84. The company has a current ratio of 1.18, a quick ratio of 1.11 and a debt-to-equity ratio of 3.51.

NRG Energy (NYSE:NRG) last posted its earnings results on Thursday, August 8th. The utilities provider reported $3.37 EPS 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 during the quarter, compared to analyst estimates of $8.32 billion. During the same period in the prior year, the company earned $1.10 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. Analysts predict that NRG Energy will post 6.29 EPS for the current year.

NRG Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Friday, November 1st. NRG Energy’s dividend payout ratio (DPR) is 17.76%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on NRG shares. StockNews.com lowered NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. BMO Capital Markets increased their price objective on NRG Energy from $90.00 to $94.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Guggenheim increased their price objective on NRG Energy from $77.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Citigroup increased their price objective on NRG Energy from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Jefferies Financial Group initiated coverage on NRG Energy in a research note on Friday, September 13th. They set a “hold” rating and a $82.00 price target for the company. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $96.00.

Insider Buying and Selling at NRG Energy

In other news, insider Rasesh M. Patel sold 102,603 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $80.35, for a total transaction of $8,244,151.05. Following the completion of the sale, the insider now owns 163,680 shares in the company, valued at approximately $13,151,688. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.86% of the stock is currently owned by corporate insiders.

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.