Wells Fargo & Company Raises NRG Energy (NYSE:NRG) Price Target to $120.00

NRG Energy (NYSE:NRG) had its price objective boosted by research analysts at Wells Fargo & Company from $110.00 to $120.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 53.30% from the stock’s previous close.

Other analysts also recently issued reports about the stock. StockNews.com downgraded shares of NRG Energy from a “buy” rating to a “hold” rating in a report on Monday. BMO Capital Markets upped their target price on shares of NRG Energy from $73.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday, May 8th. Finally, Morgan Stanley upped their target price on shares of NRG Energy from $70.00 to $83.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 28th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $72.57.

NRG Energy Stock Down 1.1 %

NRG stock traded down $0.85 during trading hours on Thursday, hitting $78.28. The company’s stock had a trading volume of 374,835 shares, compared to its average volume of 3,442,024. The company has a quick ratio of 1.11, a current ratio of 1.18 and a debt-to-equity ratio of 3.51. The company has a market capitalization of $16.32 billion, a PE ratio of 11.09 and a beta of 1.10. NRG Energy has a 12 month low of $36.61 and a 12 month high of $87.58. The stock has a 50 day moving average price of $78.20 and a two-hundred day moving average price of $74.23.

NRG Energy (NYSE:NRG) last posted its quarterly earnings data on Thursday, August 8th. The utilities provider reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $1.82. The business had revenue of $6.66 billion during the quarter, compared to the consensus estimate of $8.32 billion. NRG Energy had a net margin of 7.19% and a return on equity of 43.69%. NRG Energy’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.10 EPS. On average, equities research analysts expect that NRG Energy will post 4.45 earnings per share for the current year.

Institutional Investors Weigh In On NRG Energy

A number of hedge funds have recently made changes to their positions in the company. Banco Santander S.A. acquired a new stake in shares of NRG Energy during the 2nd quarter worth about $217,671,000. Capitolis Liquid Global Markets LLC increased its position in shares of NRG Energy by 253.2% during the 1st quarter. Capitolis Liquid Global Markets LLC now owns 1,766,000 shares of the utilities provider’s stock worth $119,541,000 after purchasing an additional 1,266,000 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of NRG Energy by 11.1% during the 1st quarter. Russell Investments Group Ltd. now owns 1,610,562 shares of the utilities provider’s stock worth $109,007,000 after purchasing an additional 160,415 shares in the last quarter. Assenagon Asset Management S.A. increased 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 purchasing an additional 633,765 shares in the last quarter. Finally, Zimmer Partners LP acquired a new stake in shares of NRG Energy during the 1st quarter worth about $64,306,000. Institutional investors and hedge funds own 97.72% of the company’s stock.

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.