Seaport Res Ptn Predicts NRG Energy FY2024 Earnings

NRG Energy, Inc. (NYSE:NRG) – Analysts at Seaport Res Ptn issued their FY2024 EPS estimates for NRG Energy in a report released on Tuesday, October 22nd. Seaport Res Ptn analyst A. Storozynski expects that the utilities provider will post earnings of $5.74 per share for the year. The consensus estimate for NRG Energy’s current full-year earnings is $5.51 per share. Seaport Res Ptn also issued estimates for NRG Energy’s FY2026 earnings at $7.47 EPS, FY2027 earnings at $9.06 EPS and FY2028 earnings at $10.50 EPS.

A number of other research firms have also issued reports on NRG. StockNews.com lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Guggenheim boosted their target price on shares of NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. BMO Capital Markets raised their target price on NRG Energy from $88.00 to $90.00 and gave the stock a “market perform” rating in a research report on Monday, September 30th. Wells Fargo & Company upped their price target on NRG Energy from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Finally, Jefferies Financial Group assumed coverage on NRG Energy in a research report on Friday, September 13th. They set a “hold” rating and a $82.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, NRG Energy currently has an average rating of “Hold” and an average target price of $83.25.

NRG Energy Price Performance

NRG stock opened at $89.28 on Thursday. NRG Energy has a one year low of $41.49 and a one year high of $96.40. The firm has a 50-day moving average of $85.54 and a two-hundred day moving average of $80.34. The firm has a market capitalization of $18.43 billion, a PE ratio of 9.73 and a beta of 1.10. The company has a current ratio of 1.18, a quick ratio of 1.11 and a debt-to-equity ratio of 3.51.

NRG Energy (NYSE:NRG) last announced its earnings results on Thursday, August 8th. The utilities provider reported $3.37 EPS for the quarter, beating the consensus estimate of $1.55 by $1.82. The business had revenue of $6.66 billion during the quarter, compared to the consensus estimate of $8.32 billion. NRG Energy had a return on equity of 43.69% and a net margin of 7.19%. NRG Energy’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.10 earnings per share.

Institutional Investors Weigh In On NRG Energy

A number of large investors have recently bought and sold shares of the business. Banco Santander S.A. acquired a new position in NRG Energy during the 2nd quarter worth $217,671,000. Capitolis Liquid Global Markets LLC lifted its position in shares of NRG Energy by 253.2% during the first quarter. Capitolis Liquid Global Markets LLC now owns 1,766,000 shares of the utilities provider’s stock worth $119,541,000 after purchasing an additional 1,266,000 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in NRG Energy by 11.1% during the 1st quarter. Russell Investments Group Ltd. now owns 1,610,562 shares of the utilities provider’s stock worth $109,007,000 after purchasing an additional 160,415 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in NRG Energy by 65.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,596,684 shares of the utilities provider’s stock valued at $124,318,000 after purchasing an additional 633,765 shares during the last quarter. Finally, Zimmer Partners LP acquired a new stake in NRG Energy in the first quarter worth $64,306,000. 97.72% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Rasesh M. Patel sold 102,603 shares of NRG Energy stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $80.35, for a total transaction of $8,244,151.05. Following the completion of the sale, the insider now directly owns 163,680 shares in the company, valued at $13,151,688. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.86% of the company’s stock.

NRG Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a $0.4075 dividend. The ex-dividend date is Friday, November 1st. This represents a $1.63 dividend on an annualized basis and a yield of 1.83%. NRG Energy’s dividend payout ratio (DPR) is currently 17.76%.

About NRG Energy

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.