NRG Energy, Inc. (NYSE:NRG – Get Rating) – Investment analysts at Seaport Res Ptn decreased their FY2024 earnings per share estimates for shares of NRG Energy in a research note issued to investors on Monday, July 18th. Seaport Res Ptn analyst A. Storozynski now anticipates that the utilities provider will earn $5.23 per share for the year, down from their previous estimate of $5.25. The consensus estimate for NRG Energy’s current full-year earnings is $3.31 per share.
Several other brokerages also recently weighed in on NRG. StockNews.com assumed coverage on NRG Energy in a research note on Thursday, March 31st. They set a “hold” rating for the company. Bank of America downgraded NRG Energy from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $43.00 to $42.00 in a research note on Tuesday, June 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $43.50.
NRG Energy Stock Up 0.3 %
NRG Energy (NYSE:NRG – Get Rating) last announced its earnings results on Friday, May 6th. The utilities provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.30). The business had revenue of $7.86 billion for the quarter, compared to analyst estimates of $4.46 billion. NRG Energy had a net margin of 14.95% and a return on equity of 45.51%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.84 earnings per share.
NRG Energy Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Monday, August 1st will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.91%. NRG Energy’s payout ratio is 8.52%.
Hedge Funds Weigh In On NRG Energy
Several large investors have recently modified their holdings of the stock. Pzena Investment Management LLC lifted its position in shares of NRG Energy by 8.3% during the first quarter. Pzena Investment Management LLC now owns 18,654,573 shares of the utilities provider’s stock worth $715,589,000 after purchasing an additional 1,430,085 shares during the last quarter. LSV Asset Management lifted its holdings in NRG Energy by 4.5% in the first quarter. LSV Asset Management now owns 6,972,773 shares of the utilities provider’s stock worth $267,476,000 after acquiring an additional 298,701 shares during the last quarter. Lyrical Asset Management LP lifted its holdings in NRG Energy by 2.0% in the first quarter. Lyrical Asset Management LP now owns 5,660,761 shares of the utilities provider’s stock worth $217,147,000 after acquiring an additional 113,422 shares during the last quarter. Permian Investment Partners LP lifted its holdings in NRG Energy by 1.4% in the first quarter. Permian Investment Partners LP now owns 5,326,801 shares of the utilities provider’s stock worth $204,336,000 after acquiring an additional 73,000 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in NRG Energy by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 4,978,532 shares of the utilities provider’s stock worth $213,974,000 after acquiring an additional 31,942 shares during the last quarter. Institutional investors own 97.43% of the company’s stock.
NRG Energy Company Profile
NRG Energy, Inc, together with its subsidiaries, operates as an integrated power company in the United States. It operates through Texas, East, and West. The company is involved in the producing, selling, and delivering electricity and related products and services to approximately 6 million residential, commercial, industrial, and wholesale customers.
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