NRG Energy, Inc. (NYSE:NRG) to Issue Quarterly Dividend of $0.41

NRG Energy, Inc. (NYSE:NRG) announced a quarterly dividend on Friday, July 19th, RTT News reports. Shareholders of record on Thursday, August 1st will be paid a dividend of 0.4075 per share by the utilities provider on Thursday, August 15th. This represents a $1.63 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Thursday, August 1st.

NRG Energy has increased its dividend payment by an average of 8.0% per year over the last three years. NRG Energy has a payout ratio of 23.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect NRG Energy to earn $5.31 per share next year, which means the company should continue to be able to cover its $1.63 annual dividend with an expected future payout ratio of 30.7%.

NRG Energy Stock Performance

NYSE NRG opened at $74.33 on Tuesday. The business’s 50 day moving average price is $79.04 and its 200-day moving average price is $69.28. NRG Energy has a fifty-two week low of $35.97 and a fifty-two week high of $87.58. The company has a market cap of $15.50 billion, a P/E ratio of 10.53 and a beta of 1.08. The company has a debt-to-equity ratio of 3.61, a quick ratio of 0.95 and a current ratio of 1.01.

NRG Energy (NYSE:NRG) last posted its quarterly earnings data on Tuesday, May 7th. The utilities provider reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.12). The firm had revenue of $7.43 billion for the quarter. NRG Energy had a net margin of 5.76% and a return on equity of 42.60%. Sell-side analysts predict that NRG Energy will post 4.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. BMO Capital Markets increased their price objective on shares of NRG Energy from $73.00 to $82.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 8th. Morgan Stanley raised their price target on NRG Energy from $70.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 28th. Finally, Wells Fargo & Company upped their price objective on NRG Energy from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, NRG Energy presently has an average rating of “Hold” and a consensus price target of $71.14.

Insider Activity at NRG Energy

In other NRG Energy news, insider Rasesh M. Patel sold 24,546 shares of NRG Energy stock in a transaction on Friday, May 17th. The stock was sold at an average price of $83.41, for a total transaction of $2,047,381.86. Following the completion of the sale, the insider now directly owns 266,064 shares of the company’s stock, valued at approximately $22,192,398.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.86% of the stock is owned by company 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.