BMO Capital Markets Raises NRG Energy (NYSE:NRG) Price Target to $90.00

NRG Energy (NYSE:NRG) had its price objective boosted by investment analysts at BMO Capital Markets from $88.00 to $90.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ price objective would suggest a potential downside of 2.86% from the company’s current price.

Other research analysts also recently issued reports about the company. Wells Fargo & Company raised their price target on NRG Energy from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. 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. Finally, StockNews.com lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, NRG Energy has a consensus rating of “Hold” and a consensus target price of $74.75.

NRG Energy Price Performance

Shares of NRG opened at $92.65 on Monday. 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 $36.61 and a twelve month high of $93.17. The stock has a market capitalization of $19.32 billion, a P/E ratio of 13.12 and a beta of 1.10. The company has a 50 day moving average of $80.69 and a 200-day moving average of $77.92.

NRG Energy (NYSE:NRG) last issued its quarterly earnings results on Thursday, August 8th. The utilities provider reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $1.82. NRG Energy had a net margin of 7.19% and a return on equity of 43.69%. The firm had revenue of $6.66 billion for the quarter, compared to analyst estimates of $8.32 billion. During the same period in the previous year, the business earned $1.10 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. As a group, equities research analysts forecast that NRG Energy will post 5.51 EPS for the current fiscal year.

Insider Transactions at NRG Energy

In other news, insider Rasesh M. Patel sold 102,603 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 163,680 shares of the company’s stock, valued at $13,151,688. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.86% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NRG Energy

A number of hedge funds have recently bought and sold shares of NRG. Banco Santander S.A. acquired a new stake in shares of NRG Energy during the 2nd quarter worth $217,671,000. Capitolis Liquid Global Markets LLC increased its holdings in NRG Energy by 253.2% in the 1st quarter. Capitolis Liquid Global Markets LLC now owns 1,766,000 shares of the utilities provider’s stock valued at $119,541,000 after buying an additional 1,266,000 shares during the period. Zimmer Partners LP acquired a new position in shares of NRG Energy in the 1st quarter valued at approximately $64,306,000. Fred Alger Management LLC bought a new stake in shares of NRG Energy during the 2nd quarter worth approximately $53,773,000. Finally, Assenagon Asset Management S.A. boosted its position in shares of NRG Energy by 65.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,596,684 shares of the utilities provider’s stock worth $124,318,000 after acquiring an additional 633,765 shares in 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.