NRG Energy, Inc. (NYSE:NRG) Announces Quarterly Dividend of $0.41

by · The Markets Daily

NRG Energy, Inc. (NYSE:NRG – Get Free Report) declared a quarterly dividend on Friday, October 11th, RTT News reports. Stockholders of record on Friday, November 1st will be paid a dividend of 0.4075 per share by the utilities provider on Friday, November 15th. This represents a $1.63 annualized dividend and a dividend yield of 1.82%.

NRG Energy has increased its dividend by an average of 8.0% annually over the last three years. NRG Energy has a dividend payout ratio of 24.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect NRG Energy to earn $6.65 per share next year, which means the company should continue to be able to cover its $1.63 annual dividend with an expected future payout ratio of 24.5%.

NRG Energy Stock Performance

NYSE NRG traded up $2.15 on Friday, reaching $89.75. The stock had a trading volume of 2,595,316 shares, compared to its average volume of 3,348,727. The stock has a market cap of $18.52 billion, a P/E ratio of 9.78 and a beta of 1.10. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.11 and a current ratio of 1.18. The business’s 50-day moving average price is $83.26 and its 200 day moving average price is $79.01. NRG Energy has a 12-month low of $40.10 and a 12-month high of $96.40.

NRG Energy (NYSE:NRG – Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The utilities provider reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $1.82. NRG Energy had a return on equity of 43.69% and a net margin of 7.19%. The business had revenue of $6.66 billion for the quarter, compared to the consensus estimate of $8.32 billion. During the same period in the prior year, the business earned $1.10 earnings per share. The business’s revenue was up 4.9% on a year-over-year basis. As a group, equities analysts expect that NRG Energy will post 5.51 earnings per share for the current year.

Insider Activity

In other news, insider Rasesh M. Patel sold 102,603 shares of the company’s stock in a transaction 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 sale, the insider now owns 163,680 shares of the company’s stock, valued at approximately $13,151,688. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on NRG. Guggenheim upped their target price on NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday. Wells Fargo & Company lifted their target price on NRG Energy from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. Jefferies Financial Group assumed coverage on NRG Energy in a report on Friday, September 13th. They issued a “hold” rating and a $82.00 price target on the stock. BMO Capital Markets boosted their price target 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. Finally, StockNews.com cut NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, NRG Energy has a consensus rating of “Hold” and an average target price of $83.25.

Check Out Our Latest Report on NRG

NRG Energy Company Profile

(Get Free Report)

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.

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