NRG Energy (NRG) Issues Quarterly Earnings Results, Misses Expectations By $0.18 EPS

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NRG Energy (NYSE:NRG) posted its quarterly earnings data on Thursday. The utilities provider reported $0.94 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.18), Briefing.com reports. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $4.04 billion. NRG Energy had a negative net margin of 9.30% and a positive return on equity of 29.44%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 earnings per share.

NRG traded up $1.29 during trading on Friday, hitting $38.28. The company had a trading volume of 8,064,832 shares, compared to its average volume of 3,957,990. The company has a current ratio of 1.30, a quick ratio of 1.17 and a debt-to-equity ratio of 7.16. NRG Energy has a one year low of $23.75 and a one year high of $38.95. The stock has a market capitalization of $11.65 billion, a P/E ratio of 16.70 and a beta of 0.99.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, November 1st will be given a $0.03 dividend. The ex-dividend date is Wednesday, October 31st. This represents a $0.12 annualized dividend and a yield of 0.31%. NRG Energy’s dividend payout ratio is currently 11.01%.

In other NRG Energy news, EVP Elizabeth R. Killinger sold 24,600 shares of NRG Energy stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $35.84, for a total value of $881,664.00. Following the sale, the executive vice president now directly owns 106,125 shares in the company, valued at approximately $3,803,520. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christopher Moser sold 43,975 shares of NRG Energy stock in a transaction on Monday, September 10th. The shares were sold at an average price of $35.11, for a total transaction of $1,543,962.25. Following the completion of the sale, the executive vice president now owns 61,075 shares in the company, valued at $2,144,343.25. The disclosure for this sale can be found here. Insiders sold a total of 83,775 shares of company stock worth $2,959,754 over the last quarter. Company insiders own 0.38% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Dean Capital Investments Management LLC acquired a new stake in NRG Energy in the 3rd quarter valued at $908,000. CIBC World Markets Inc. increased its stake in NRG Energy by 56.6% in the 3rd quarter. CIBC World Markets Inc. now owns 49,710 shares of the utilities provider’s stock valued at $1,859,000 after buying an additional 17,962 shares during the last quarter. FMR LLC increased its stake in NRG Energy by 27.3% in the 3rd quarter. FMR LLC now owns 14,143,074 shares of the utilities provider’s stock valued at $528,952,000 after buying an additional 3,032,733 shares during the last quarter. Ffcm LLC increased its stake in NRG Energy by 655.2% in the 3rd quarter. Ffcm LLC now owns 77,574 shares of the utilities provider’s stock valued at $2,901,000 after buying an additional 67,302 shares during the last quarter. Finally, American International Group Inc. increased its stake in NRG Energy by 6.1% in the 3rd quarter. American International Group Inc. now owns 136,309 shares of the utilities provider’s stock valued at $5,098,000 after buying an additional 7,836 shares during the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.

NRG has been the topic of several research reports. Zacks Investment Research cut shares of NRG Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 18th. ValuEngine raised shares of NRG Energy from a “hold” rating to a “buy” rating in a research report on Saturday, October 6th. Bank of America boosted their price objective on shares of NRG Energy from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, September 27th. Macquarie boosted their price objective on shares of NRG Energy from $40.00 to $41.00 and gave the company an “outperform” rating in a research report on Thursday, September 20th. Finally, Citigroup cut shares of NRG Energy from a “buy” rating to a “neutral” rating and set a $33.00 price objective on the stock. in a research report on Monday, July 30th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $38.17.

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NRG Energy Company Profile

NRG Energy, Inc, together with its subsidiaries, operates as an integrated power company in the United States. The company is involved in the generation of electricity using fossil fuel and nuclear sources. The company provides electricity to 2.9 million residential, commercial, and industrial consumers; system power, distributed generation, solar and wind products, backup generation, storage and distributed solar, demand response, energy efficiency, and on-site energy solutions; and carbon management and specialty services.

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Earnings History for NRG Energy (NYSE:NRG)

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