Wells Fargo & Company Boosts NRG Energy (NYSE:NRG) Price Target to $100.00

NRG Energy (NYSE:NRG) had its price target upped by equities researchers at Wells Fargo & Company from $85.00 to $100.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 32.59% from the company’s current price.

A number of other brokerages have also commented on NRG. Morgan Stanley increased their price objective on shares of NRG Energy from $51.00 to $63.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 26th. BMO Capital Markets lifted their target price on NRG Energy from $73.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday. StockNews.com raised NRG Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Evercore ISI lifted their price objective on NRG Energy from $55.00 to $65.00 and gave the stock an “in-line” rating in a research report on Monday, March 18th. Finally, Citigroup raised their target price on shares of NRG Energy from $52.00 to $62.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, NRG Energy presently has an average rating of “Hold” and a consensus target price of $64.25.

NRG Energy Price Performance

NYSE:NRG traded up $2.02 on Wednesday, reaching $75.42. The stock had a trading volume of 2,459,408 shares, compared to its average volume of 3,620,616. The company has a market capitalization of $16.19 billion, a P/E ratio of -71.22 and a beta of 1.11. The stock has a fifty day moving average price of $68.32 and a 200-day moving average price of $56.03. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 4.49. NRG Energy has a 1-year low of $30.62 and a 1-year high of $83.03.

NRG Energy (NYSE:NRG) last released its quarterly earnings results on Wednesday, February 28th. The utilities provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.20. NRG Energy had a positive return on equity of 44.03% and a negative net margin of 0.70%. The business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $7.51 billion. Research analysts forecast that NRG Energy will post 5.36 EPS for the current year.

Insiders Place Their Bets

In other news, VP Rasesh M. Patel sold 49,092 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $62.59, for a total transaction of $3,072,668.28. Following the sale, the vice president now owns 356,962 shares of the company’s stock, valued at $22,342,251.58. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On NRG Energy

Large investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its position in NRG Energy by 5.8% in the third quarter. Commonwealth Equity Services LLC now owns 43,505 shares of the utilities provider’s stock valued at $1,676,000 after purchasing an additional 2,394 shares in the last quarter. Raymond James & Associates increased its position in shares of NRG Energy by 63.6% in the third quarter. Raymond James & Associates now owns 168,949 shares of the utilities provider’s stock valued at $6,508,000 after acquiring an additional 65,706 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in NRG Energy by 0.6% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 57,044 shares of the utilities provider’s stock valued at $2,197,000 after purchasing an additional 360 shares during the last quarter. Mackenzie Financial Corp grew its stake in NRG Energy by 3.4% in the third quarter. Mackenzie Financial Corp now owns 482,484 shares of the utilities provider’s stock valued at $18,262,000 after purchasing an additional 15,863 shares in the last quarter. Finally, Brighton Jones LLC acquired a new position in shares of NRG Energy during the 3rd quarter worth approximately $231,000. Institutional investors own 97.72% of the company’s stock.

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.