NRG Energy (NYSE:NRG) Hits New 1-Year High – What’s Next?

NRG Energy, Inc. (NYSE:NRG) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $117.90 and last traded at $117.18, with a volume of 1013519 shares. The stock had previously closed at $114.14.

Analysts Set New Price Targets

NRG has been the topic of several analyst reports. StockNews.com lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Guggenheim lifted their price target on NRG Energy from $134.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. The Goldman Sachs Group assumed coverage on NRG Energy in a report on Friday, April 4th. They issued a “buy” rating and a $129.00 price target for the company. Wells Fargo & Company boosted their price objective on NRG Energy from $140.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Finally, Morgan Stanley increased their target price on NRG Energy from $86.00 to $99.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $124.00.

NRG Energy Price Performance

The stock has a 50 day moving average price of $98.11 and a 200-day moving average price of $97.65. The company has a debt-to-equity ratio of 5.57, a current ratio of 1.17 and a quick ratio of 1.10. The stock has a market capitalization of $23.74 billion, a price-to-earnings ratio of 29.28, a price-to-earnings-growth ratio of 1.01 and a beta of 1.10.

NRG Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Thursday, May 1st. NRG Energy’s payout ratio is 35.92%.

Hedge Funds Weigh In On NRG Energy

Several hedge funds and other institutional investors have recently modified their holdings of the business. Key Financial Inc purchased a new position in NRG Energy in the 1st quarter worth approximately $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of NRG Energy in the fourth quarter valued at approximately $32,000. Mizuho Bank Ltd. purchased a new position in NRG Energy during the fourth quarter worth approximately $41,000. UMB Bank n.a. boosted its stake in NRG Energy by 100.4% during the fourth quarter. UMB Bank n.a. now owns 455 shares of the utilities provider’s stock worth $41,000 after buying an additional 228 shares during the last quarter. Finally, Princeton Global Asset Management LLC grew its holdings in NRG Energy by 414.9% in the 4th quarter. Princeton Global Asset Management LLC now owns 484 shares of the utilities provider’s stock valued at $44,000 after buying an additional 390 shares in the last quarter. 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.