NRG Energy (NYSE:NRG) Shares Up 6.8% – Time to Buy?

NRG Energy, Inc. (NYSE:NRG)’s stock price rose 6.8% during trading on Tuesday . The company traded as high as $99.23 and last traded at $98.10. Approximately 848,647 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 3,247,083 shares. The stock had previously closed at $91.87.

Analyst Upgrades and Downgrades

NRG has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price target on shares of NRG Energy from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Citigroup increased their target price on shares of NRG Energy from $84.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Guggenheim increased their target price on shares of NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. BMO Capital Markets increased their target price on shares of NRG Energy from $94.00 to $100.00 and gave the company a “market perform” rating in a report on Tuesday, November 19th. Finally, Jefferies Financial Group raised shares of NRG Energy from a “hold” rating to a “buy” rating and increased their target price for the company from $93.00 to $113.00 in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $102.71.

NRG Energy Stock Performance

The company’s 50-day moving average price is $90.68 and its 200 day moving average price is $83.37. The company has a debt-to-equity ratio of 5.57, a quick ratio of 1.10 and a current ratio of 1.17. The stock has a market capitalization of $20.03 billion, a PE ratio of 24.85, a PEG ratio of 1.34 and a beta of 1.10.

NRG Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a $0.4075 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.63 annualized dividend and a dividend yield of 1.65%. NRG Energy’s dividend payout ratio is 40.95%.

Insider Transactions at NRG Energy

In other news, insider Rasesh M. Patel sold 102,603 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $80.35, for a total value 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 trade represents a 38.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On NRG Energy

Several institutional investors and hedge funds have recently modified their holdings of NRG. McIlrath & Eck LLC lifted its position in NRG Energy by 4.5% during the 3rd quarter. McIlrath & Eck LLC now owns 2,630 shares of the utilities provider’s stock valued at $240,000 after acquiring an additional 113 shares during the period. M&T Bank Corp lifted its position in NRG Energy by 0.3% during the 3rd quarter. M&T Bank Corp now owns 38,213 shares of the utilities provider’s stock valued at $3,481,000 after acquiring an additional 113 shares during the period. Castle Rock Wealth Management LLC lifted its position in NRG Energy by 3.5% during the 3rd quarter. Castle Rock Wealth Management LLC now owns 3,746 shares of the utilities provider’s stock valued at $356,000 after acquiring an additional 126 shares during the period. Park Avenue Securities LLC lifted its position in NRG Energy by 2.8% during the 3rd quarter. Park Avenue Securities LLC now owns 4,910 shares of the utilities provider’s stock valued at $447,000 after acquiring an additional 134 shares during the period. Finally, Covestor Ltd lifted its position in NRG Energy by 74.7% during the 3rd quarter. Covestor Ltd now owns 325 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 139 shares during the period. 97.72% of the stock is owned by hedge funds and other institutional investors.

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.