NRG Energy (NYSE:NRG) Downgraded by StockNews.com to Sell
NRG Energy (NYSE:NRG – Get Free Report) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Thursday.
A number of other research analysts have also recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of NRG Energy from $40.00 to $41.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 25th. Guggenheim raised shares of NRG Energy from a “neutral” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Wednesday, November 1st. BMO Capital Markets boosted their target price on shares of NRG Energy from $46.00 to $49.00 and gave the company a “market perform” rating in a research note on Tuesday, November 21st. Finally, UBS Group raised shares of NRG Energy from a “sell” rating to a “neutral” rating and boosted their target price for the company from $33.00 to $46.00 in a research note on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $46.40.
Read Our Latest Stock Analysis on NRG Energy
NRG Energy Price Performance
NRG traded up $0.98 during trading hours on Thursday, hitting $47.83. The company’s stock had a trading volume of 4,998,688 shares, compared to its average volume of 4,105,760. The business’s 50-day moving average price is $42.81 and its 200-day moving average price is $38.67. NRG Energy has a 12 month low of $30.25 and a 12 month high of $48.58. The stock has a market cap of $10.80 billion, a price-to-earnings ratio of -6.20 and a beta of 0.99. The company has a current ratio of 1.06, a quick ratio of 0.99 and a debt-to-equity ratio of 3.75.
NRG Energy (NYSE:NRG – Get Free Report) last posted its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.09. NRG Energy had a negative net margin of 5.96% and a positive return on equity of 41.72%. The business had revenue of $7.95 billion for the quarter, compared to analysts’ expectations of $5.43 billion. Sell-side analysts expect that NRG Energy will post 4.54 earnings per share for the current fiscal year.
Institutional Trading of NRG Energy
A number of hedge funds have recently added to or reduced their stakes in the business. Creative Planning lifted its position in shares of NRG Energy by 78.9% during the second quarter. Creative Planning now owns 25,958 shares of the utilities provider’s stock valued at $971,000 after buying an additional 11,447 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of NRG Energy by 6.8% during the second quarter. Mackenzie Financial Corp now owns 466,621 shares of the utilities provider’s stock valued at $17,554,000 after buying an additional 29,852 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of NRG Energy by 97.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 48,848 shares of the utilities provider’s stock valued at $1,826,000 after buying an additional 24,083 shares during the last quarter. Tocqueville Asset Management L.P. purchased a new stake in shares of NRG Energy during the first quarter valued at about $206,000. Finally, Bessemer Group Inc. lifted its position in shares of NRG Energy by 18.7% during the first quarter. Bessemer Group Inc. now owns 4,444 shares of the utilities provider’s stock valued at $153,000 after buying an additional 700 shares during the last quarter. 97.72% of the stock is owned by hedge funds and other institutional investors.
NRG Energy Company Profile (Get Free Report)
NRG Energy, Inc, together with its subsidiaries, operates as an integrated power company in the United States. It operates through Texas, East, and West segments. The company is involved in producing and selling electricity and related products and services to approximately residential, commercial, industrial, and wholesale customers.
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Original: MarketBeat News Feed: NRG Energy (NYSE:NRG) Downgraded by StockNews.com to Sell