NRG Energy (NYSE:NRG) Releases Quarterly 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $1.36, Briefing.com reports. NRG Energy had a net margin of 11.93% and a return on equity of 33.75%. The company had revenue of $7.28 billion for the quarter, compared to analysts’ expectations of $5.27 billion. During the same period in the prior year, the firm earned $1.20 EPS. NRG Energy’s quarterly revenue was up 38.9% compared to the same quarter last year.

NRG Energy Price Performance

NRG stock traded down $0.68 during midday trading on Friday, reaching $38.46. The company had a trading volume of 3,853,750 shares, compared to its average volume of 3,348,650. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.29 and a quick ratio of 1.35. NRG Energy has a 1-year low of $34.70 and a 1-year high of $47.82. The company has a market capitalization of $9.13 billion, a price-to-earnings ratio of 2.71, a price-to-earnings-growth ratio of 0.46 and a beta of 0.88. The stock has a 50 day moving average price of $39.06 and a 200-day moving average price of $39.31.

NRG Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Monday, August 1st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend is Friday, July 29th. NRG Energy’s dividend payout ratio (DPR) is currently 9.87%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NRG. Morgan Stanley raised their price objective on NRG Energy from $44.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday, July 21st. Bank of America downgraded NRG Energy from a “neutral” rating to an “underperform” rating and cut their price target for the company from $43.00 to $42.00 in a report on Tuesday, June 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, NRG Energy presently has an average rating of “Hold” and an average price target of $43.00.

Institutional Trading of NRG Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Permian Investment Partners LP grew its position in NRG Energy by 1.4% in the first quarter. Permian Investment Partners LP now owns 5,326,801 shares of the utilities provider’s stock valued at $204,336,000 after acquiring an additional 73,000 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of NRG Energy by 145.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,746,180 shares of the utilities provider’s stock worth $182,064,000 after buying an additional 2,812,434 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of NRG Energy by 12.6% in the 1st quarter. First Trust Advisors LP now owns 613,424 shares of the utilities provider’s stock valued at $23,531,000 after acquiring an additional 68,453 shares during the last quarter. Hsbc Holdings PLC grew its position in NRG Energy by 2.3% during the 1st quarter. Hsbc Holdings PLC now owns 580,903 shares of the utilities provider’s stock worth $22,252,000 after acquiring an additional 13,246 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in NRG Energy by 78.5% in the first quarter. Prudential Financial Inc. now owns 517,747 shares of the utilities provider’s stock valued at $19,861,000 after purchasing an additional 227,619 shares during the last quarter. Institutional investors own 97.43% of the company’s stock.

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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