NRG Energy (NYSE:NRG) Upgraded by Goldman Sachs Group to “Conviction-Buy”

Goldman Sachs Group upgraded shares of NRG Energy (NYSE:NRG) from a buy rating to a conviction-buy rating in a research note published on Monday, June 24th. They currently have $56.00 price objective on the utilities provider’s stock.

NRG has been the topic of a number of other reports. Zacks Investment Research lowered NRG Energy from a strong-buy rating to a hold rating and set a $41.00 target price on the stock. in a report on Monday, May 27th. Morgan Stanley set a $46.00 target price on NRG Energy and gave the stock a hold rating in a report on Thursday, May 16th. ValuEngine raised NRG Energy from a hold rating to a buy rating in a report on Thursday, March 7th. Deutsche Bank set a $43.00 price objective on NRG Energy and gave the company a hold rating in a report on Friday, March 1st. Finally, Citigroup upped their price objective on NRG Energy from $47.00 to $49.00 and gave the company a buy rating in a report on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $45.13.

NYSE:NRG opened at $35.24 on Monday. The company has a market cap of $9.47 billion, a PE ratio of 14.62, a PEG ratio of 0.26 and a beta of 0.84. The company’s 50-day simple moving average is $35.01. NRG Energy has a fifty-two week low of $30.32 and a fifty-two week high of $43.66.

NRG Energy (NYSE:NRG) last released its earnings results on Thursday, May 2nd. The utilities provider reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.05). The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. NRG Energy had a net margin of 4.64% and a negative return on equity of 125.35%. The company’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 EPS. As a group, sell-side analysts expect that NRG Energy will post 4.12 EPS for the current year.

Several hedge funds have recently made changes to their positions in NRG. FMR LLC lifted its position in shares of NRG Energy by 29.3% during the 4th quarter. FMR LLC now owns 18,293,260 shares of the utilities provider’s stock worth $724,413,000 after buying an additional 4,150,186 shares during the last quarter. Two Sigma Advisers LP increased its holdings in NRG Energy by 141.7% in the 4th quarter. Two Sigma Advisers LP now owns 3,511,494 shares of the utilities provider’s stock worth $139,055,000 after purchasing an additional 2,058,557 shares in the last quarter. Two Sigma Investments LP increased its holdings in NRG Energy by 870.4% in the 4th quarter. Two Sigma Investments LP now owns 2,068,071 shares of the utilities provider’s stock worth $81,896,000 after purchasing an additional 1,854,960 shares in the last quarter. BlackRock Inc. increased its holdings in NRG Energy by 5.8% in the 4th quarter. BlackRock Inc. now owns 19,705,439 shares of the utilities provider’s stock worth $780,337,000 after purchasing an additional 1,079,801 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in NRG Energy by 244.8% in the 4th quarter. American Century Companies Inc. now owns 1,447,772 shares of the utilities provider’s stock worth $57,332,000 after purchasing an additional 1,027,944 shares in the last quarter. Institutional investors and hedge funds own 99.74% of the company’s stock.

NRG Energy Company Profile

NRG Energy, Inc, together with its subsidiaries, operates as an energy company in the United States. The company is involved in the producing, selling, and delivering electricity and related products and services to 3.1 million residential, industrial, and commercial consumers. It generates electricity using natural gas, coal, oil, solar, nuclear, wind, fossil fuel, and nuclear sources.

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Analyst Recommendations for NRG Energy (NYSE:NRG)

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