NRG Energy (NYSE:NRG) Price Target Raised to $140.00

NRG Energy (NYSE:NRG) had its target price increased by Wells Fargo & Company from $130.00 to $140.00 in a research note published on Monday,Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock.

Other equities research analysts have also recently issued research reports about the company. Guggenheim increased their target price on NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Jefferies Financial Group initiated coverage on shares of NRG Energy in a research note on Friday, September 13th. They issued a “hold” rating and a $82.00 target price for the company. Citigroup raised their price target on shares of NRG Energy from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. StockNews.com lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Finally, BMO Capital Markets raised their target price on shares of NRG Energy from $90.00 to $94.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, NRG Energy presently has a consensus rating of “Hold” and an average price target of $97.43.

NRG Energy Stock Down 0.2 %

Shares of NYSE NRG opened at $92.48 on Monday. The firm’s 50-day moving average is $87.92 and its two-hundred day moving average is $82.18. The company has a market capitalization of $18.73 billion, a PE ratio of 23.24, a price-to-earnings-growth ratio of 1.35 and a beta of 1.10. NRG Energy has a 12-month low of $44.90 and a 12-month high of $102.84. The company has a debt-to-equity ratio of 5.57, a current ratio of 1.17 and a quick ratio of 1.10.

NRG Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a $0.4075 dividend. This represents a $1.63 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Friday, November 1st. NRG Energy’s dividend payout ratio is currently 40.95%.

Insider Activity at NRG Energy

In related news, insider Rasesh M. Patel sold 102,603 shares of the company’s stock in a transaction on Friday, September 13th. The shares were 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 directly owns 163,680 shares of the company’s stock, valued at approximately $13,151,688. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.86% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NRG Energy

A number of large investors have recently modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new position in NRG Energy during the 3rd quarter worth approximately $26,000. Covestor Ltd lifted its position in shares of NRG Energy by 74.7% during the third quarter. Covestor Ltd now owns 325 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 139 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of NRG Energy in the second quarter valued at $32,000. First Horizon Advisors Inc. grew its holdings in NRG Energy by 76.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 191 shares in the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in NRG Energy during the 3rd quarter worth $35,000. Institutional investors and hedge funds own 97.72% of the company’s stock.

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.