An issue of NRG Energy Inc. (NYSE:NRG) debt rose 2.5% as a percentage of its face value during trading on Thursday. The high-yield debt issue has a 6.25% coupon and will mature on May 1, 2024. The bonds in the issue are now trading at $102.00 and were trading at $98.00 one week ago. Price changes in a company’s debt in credit markets sometimes predict parallel changes in its share price.
A number of research analysts have commented on NRG shares. Barclays PLC decreased their price objective on NRG Energy from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 10th. Citigroup Inc. cut their price target on NRG Energy from $14.00 to $11.00 and set a “sell” rating on the stock in a research note on Monday, September 12th. TheStreet downgraded NRG Energy from a “hold” rating to a “sell” rating in a research note on Thursday, September 8th. Zacks Investment Research downgraded NRG Energy from a “buy” rating to a “hold” rating in a research note on Thursday, July 28th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $21.00 price target on shares of NRG Energy in a research note on Wednesday, August 10th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $18.82.
Shares of NRG Energy Inc. (NYSE:NRG) traded up 0.99% during mid-day trading on Friday, reaching $11.21. The company had a trading volume of 4,397,911 shares. The firm’s market capitalization is $3.53 billion. NRG Energy Inc. has a one year low of $8.80 and a one year high of $18.32. The stock has a 50 day moving average of $11.89 and a 200-day moving average of $13.88.
NRG Energy (NYSE:NRG) last posted its earnings results on Tuesday, August 9th. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by $0.76. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $3.54 billion. NRG Energy had a positive return on equity of 3.12% and a negative net margin of 48.33%. The business’s quarterly revenue was down 22.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.06) EPS. Equities analysts predict that NRG Energy Inc. will post $0.96 EPS for the current year.
Several hedge funds have recently bought and sold shares of NRG. Vanguard Group Inc. boosted its stake in NRG Energy by 23.3% in the second quarter. Vanguard Group Inc. now owns 34,317,068 shares of the company’s stock worth $514,413,000 after buying an additional 6,479,369 shares during the last quarter. Norges Bank bought a new stake in NRG Energy during the fourth quarter worth $33,472,000. Carlson Capital L P boosted its stake in NRG Energy by 19.5% in the second quarter. Carlson Capital L P now owns 12,646,138 shares of the company’s stock worth $189,566,000 after buying an additional 2,064,740 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in NRG Energy by 21.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 11,318,623 shares of the company’s stock worth $169,666,000 after buying an additional 1,996,140 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in NRG Energy by 387.0% in the first quarter. Renaissance Technologies LLC now owns 2,470,716 shares of the company’s stock worth $32,144,000 after buying an additional 1,963,400 shares during the last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.
About NRG Energy
NRG Energy, Inc (NRG) is an integrated power company that produces, sells and delivers energy, and energy products and services in various power markets in the United States. The Company’s segments include NRG Business, which includes power generation, the carbon capture business and energy services; NRG Home, which includes NRG Home Retail, which consists of residential retail services and products, and NRG Home Solar, which includes the installation and leasing of residential solar services; NRG Renew, which includes solar and wind assets, excluding those in the NRG Yield and NRG Home Solar segments; NRG Yield, and corporate activities.
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