NRG Energy (NYSE:NRG) Price Target Raised to $100.00

NRG Energy (NYSE:NRG) had its target price lifted by stock analysts at BMO Capital Markets from $94.00 to $100.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ target price would suggest a potential upside of 8.28% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. Citigroup boosted their target price on NRG Energy from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. StockNews.com downgraded NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Jefferies Financial Group began coverage on shares of NRG Energy in a report on Friday, September 13th. They set a “hold” rating and a $82.00 price target for the company. Wells Fargo & Company boosted their target price on NRG Energy from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Finally, Guggenheim lifted their price target on NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $98.29.

NRG Energy Trading Down 0.9 %

Shares of NYSE:NRG traded down $0.88 during midday trading on Tuesday, reaching $92.35. 297,946 shares of the company’s stock were exchanged, compared to its average volume of 3,258,252. NRG Energy has a fifty-two week low of $44.90 and a fifty-two week high of $102.84. 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 firm’s 50 day simple moving average is $88.81 and its two-hundred day simple moving average is $82.63. The stock has a market cap of $18.71 billion, a price-to-earnings ratio of 23.32, a P/E/G ratio of 1.34 and a beta of 1.10.

Insider Transactions at NRG Energy

In other news, insider Rasesh M. Patel sold 102,603 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 163,680 shares in the company, valued at approximately $13,151,688. This represents a 38.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NRG. Banco Santander S.A. acquired a new stake in NRG Energy during the second quarter valued at approximately $217,671,000. Los Angeles Capital Management LLC lifted its stake in NRG Energy by 32,962.3% during the third quarter. Los Angeles Capital Management LLC now owns 1,052,705 shares of the utilities provider’s stock worth $95,901,000 after purchasing an additional 1,049,521 shares during the last quarter. Zimmer Partners LP acquired a new position in NRG Energy in the first quarter worth $64,306,000. Fred Alger Management LLC bought a new stake in NRG Energy during the second quarter valued at $53,773,000. Finally, Assenagon Asset Management S.A. raised its holdings in shares of NRG Energy by 65.8% during the second quarter. Assenagon Asset Management S.A. now owns 1,596,684 shares of the utilities provider’s stock worth $124,318,000 after purchasing an additional 633,765 shares during the period. 97.72% of the stock is owned by institutional investors and hedge funds.

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.