NRG Energy (NYSE:NRG) Issues Earnings Results, Beats Estimates By $1.36 EPS

NRG Energy (NYSE:NRGGet Rating) issued its earnings results on Thursday. The utilities provider reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $1.36, Briefing.com reports. The business had revenue of $7.28 billion for the quarter, compared to the consensus estimate of $5.27 billion. NRG Energy had a net margin of 14.95% and a return on equity of 45.51%. The firm’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.20 earnings per share.

NRG Energy Stock Performance

NRG stock traded down $0.68 during midday trading on Friday, reaching $38.46. 3,853,667 shares of the company were exchanged, compared to its average volume of 3,230,168. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.35. The business has a 50-day moving average price of $39.06 and a two-hundred day moving average price of $39.31. NRG Energy has a one year low of $34.70 and a one year high of $47.82. The firm has a market capitalization of $9.13 billion, a price-to-earnings ratio of 2.34, a price-to-earnings-growth ratio of 0.44 and a beta of 0.88.

NRG Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Monday, August 1st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, July 29th. This represents a $1.40 dividend on an annualized basis and a yield of 3.64%. NRG Energy’s dividend payout ratio (DPR) is 8.52%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Morgan Stanley boosted their target price on shares of NRG Energy from $44.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, July 21st. Bank of America downgraded shares of NRG Energy from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $43.00 to $42.00 in a report on Tuesday, June 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $43.00.

Hedge Funds Weigh In On NRG Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC boosted its position in shares of NRG Energy by 15.3% in the first quarter. Advisory Services Network LLC now owns 7,603 shares of the utilities provider’s stock valued at $291,000 after acquiring an additional 1,011 shares during the period. Sawtooth Solutions LLC bought a new stake in shares of NRG Energy in the first quarter valued at about $278,000. Toroso Investments LLC boosted its position in shares of NRG Energy by 10.4% in the first quarter. Toroso Investments LLC now owns 7,386 shares of the utilities provider’s stock valued at $283,000 after acquiring an additional 696 shares during the period. Advisors Asset Management Inc. boosted its position in shares of NRG Energy by 2.6% in the first quarter. Advisors Asset Management Inc. now owns 16,292 shares of the utilities provider’s stock valued at $625,000 after acquiring an additional 416 shares during the period. Finally, MidWestOne Financial Group Inc. boosted its position in shares of NRG Energy by 3.7% in the first quarter. MidWestOne Financial Group Inc. now owns 11,216 shares of the utilities provider’s stock valued at $430,000 after acquiring an additional 396 shares during the period. 97.43% of the stock is owned by institutional investors.

About NRG Energy

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NRG Energy, Inc, together with its subsidiaries, operates as an integrated power company in the United States. It operates through Texas, East, and West. The company is involved in the producing, selling, and delivering electricity and related products and services to approximately 6 million residential, commercial, industrial, and wholesale customers.

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Earnings History for NRG Energy (NYSE:NRG)

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