NRG Energy (NYSE:NRG) Shares Gap Up Following Better-Than-Expected Earnings

NRG Energy, Inc. (NYSE:NRG)’s stock price gapped up prior to trading on Monday following a better than expected earnings announcement. The stock had previously closed at $119.33, but opened at $137.00. NRG Energy shares last traded at $144.92, with a volume of 1,930,627 shares traded.

The utilities provider reported $2.62 EPS for the quarter, beating the consensus estimate of $0.72 by $1.90. The firm had revenue of $8.59 billion during the quarter, compared to the consensus estimate of $8.28 billion. NRG Energy had a return on equity of 48.96% and a net margin of 3.43%. The business’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period last year, the company earned $2.31 earnings per share.

NRG Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be paid a $0.44 dividend. The ex-dividend date is Thursday, May 1st. This represents a $1.76 annualized dividend and a dividend yield of 1.12%. NRG Energy’s payout ratio is currently 35.92%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Morgan Stanley boosted their price objective on NRG Energy from $86.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. The Goldman Sachs Group initiated coverage on NRG Energy in a research report on Friday, April 4th. They issued a “buy” rating and a $129.00 target price on the stock. Jefferies Financial Group boosted their target price on NRG Energy from $113.00 to $132.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. BMO Capital Markets lifted their target price on shares of NRG Energy from $100.00 to $115.00 and gave the company a “market perform” rating in a report on Monday, March 3rd. Finally, Wells Fargo & Company upped their price objective on NRG Energy from $165.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.25.

Hedge Funds Weigh In On NRG Energy

Several hedge funds and other institutional investors have recently made changes to their positions in NRG. Horizon Investments LLC lifted its stake in shares of NRG Energy by 3.0% in the first quarter. Horizon Investments LLC now owns 2,908 shares of the utilities provider’s stock valued at $276,000 after buying an additional 86 shares in the last quarter. Mather Group LLC. raised its position in NRG Energy by 12.1% during the 1st quarter. Mather Group LLC. now owns 900 shares of the utilities provider’s stock valued at $86,000 after purchasing an additional 97 shares during the last quarter. Cullen Frost Bankers Inc. lifted its position in NRG Energy by 13.0% during the first quarter. Cullen Frost Bankers Inc. now owns 904 shares of the utilities provider’s stock valued at $86,000 after buying an additional 104 shares during the period. Private Trust Co. NA grew its stake in shares of NRG Energy by 8.7% in the first quarter. Private Trust Co. NA now owns 1,482 shares of the utilities provider’s stock worth $141,000 after acquiring an additional 119 shares during the last quarter. Finally, Schechter Investment Advisors LLC boosted its position in shares of NRG Energy by 0.8% during the fourth quarter. Schechter Investment Advisors LLC now owns 15,916 shares of the utilities provider’s stock valued at $1,436,000 after buying an additional 120 shares during the last quarter. 97.72% of the stock is currently owned by institutional investors and hedge funds.

NRG Energy Stock Performance

The business has a 50-day moving average of $101.80 and a 200 day moving average of $99.67. The company has a market cap of $31.92 billion, a PE ratio of 39.38, a PEG ratio of 1.01 and a beta of 1.00. The company has a debt-to-equity ratio of 5.57, a current ratio of 1.17 and a quick ratio of 1.10.

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.