ValuEngine Downgrades NRG Energy (NYSE:NRG) to Sell

ValuEngine downgraded shares of NRG Energy (NYSE:NRG) from a hold rating to a sell rating in a report issued on Thursday, ValuEngine reports.

NRG has been the subject of a number of other reports. Zacks Investment Research lowered shares of NRG Energy from a strong-buy rating to a hold rating and set a $41.00 price objective for the company. in a research note on Monday, May 27th. Morgan Stanley set a $46.00 price objective on shares of NRG Energy and gave the company a hold rating in a research note on Thursday, May 16th. Citigroup lifted their price objective on shares of NRG Energy from $47.00 to $49.00 and gave the company a buy rating in a research note on Thursday, April 11th. Finally, Goldman Sachs Group upgraded shares of NRG Energy from a buy rating to a conviction-buy rating and set a $56.00 price objective for the company in a research note on Monday, June 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. NRG Energy has an average rating of Hold and an average price target of $45.13.

NRG Energy stock traded down $1.01 during mid-day trading on Thursday, reaching $33.73. The company’s stock had a trading volume of 164,721 shares, compared to its average volume of 2,963,819. NRG Energy has a 12-month low of $31.64 and a 12-month high of $43.66. The firm has a market cap of $9.19 billion, a P/E ratio of 14.02, a P/E/G ratio of 0.28 and a beta of 0.79. The stock has a fifty day moving average of $35.06.

NRG Energy (NYSE:NRG) last released its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). NRG Energy had a net margin of 4.64% and a negative return on equity of 125.35%. The business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the prior year, the firm posted $0.87 earnings per share. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. As a group, sell-side analysts forecast that NRG Energy will post 3.88 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.42%. This is a positive change from NRG Energy’s previous quarterly dividend of $0.03. The ex-dividend date is Wednesday, July 31st. NRG Energy’s payout ratio is currently 4.98%.

A number of institutional investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in shares of NRG Energy by 431.3% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 2,049,142 shares of the utilities provider’s stock worth $71,966,000 after acquiring an additional 1,663,460 shares during the last quarter. Geode Capital Management LLC lifted its stake in NRG Energy by 17.8% in the fourth quarter. Geode Capital Management LLC now owns 4,821,667 shares of the utilities provider’s stock worth $190,674,000 after purchasing an additional 727,114 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in NRG Energy by 66.7% in the first quarter. State of New Jersey Common Pension Fund D now owns 1,500,000 shares of the utilities provider’s stock worth $63,720,000 after purchasing an additional 600,000 shares during the last quarter. TD Asset Management Inc. lifted its stake in NRG Energy by 178.9% in the second quarter. TD Asset Management Inc. now owns 868,766 shares of the utilities provider’s stock worth $30,511,000 after purchasing an additional 557,219 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in NRG Energy by 107.1% in the first quarter. Wells Fargo & Company MN now owns 861,389 shares of the utilities provider’s stock worth $36,593,000 after purchasing an additional 445,435 shares during the last quarter. Institutional investors and hedge funds own 97.25% of the company’s stock.

About NRG Energy

NRG Energy, Inc, together with its subsidiaries, operates as an energy company in the United States. The company is involved in the producing, selling, and delivering electricity and related products and services to 3.1 million residential, industrial, and commercial consumers. It generates electricity using natural gas, coal, oil, solar, nuclear, wind, fossil fuel, and nuclear sources.

Recommended Story: Stock Split

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for NRG Energy (NYSE:NRG)

Receive News & Ratings for NRG Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NRG Energy and related companies with MarketBeat.com's FREE daily email newsletter.