Today: Today, Bank of America Corp. Downgraded NRG Energy Inc. (NRG) to Neutral

Today, Bank of America Corp. Downgraded NRG Energy Inc. (NRG) to Neutral

Bank of America Corp. downgraded shares of NRG Energy Inc. (NYSE:NRG) from a buy rating to a neutral rating in a report released on Tuesday.

Other analysts also recently issued reports about the stock. Citigroup Inc. cut their price target on shares of NRG Energy from $14.00 to $11.00 and set a sell rating on the stock in a research report on Monday, September 12th. Barclays PLC reiterated a buy rating and issued a $16.00 price target on shares of NRG Energy in a research report on Monday, November 7th. TheStreet downgraded shares of NRG Energy from a hold rating to a sell rating in a research report on Thursday, September 8th. Zacks Investment Research downgraded shares of NRG Energy from a buy rating to a hold rating in a research report on Friday, November 11th. Finally, Deutsche Bank AG reiterated a buy rating and issued a $21.00 price target on shares of NRG Energy in a research report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $16.42.

NRG Energy (NYSE:NRG) opened at 11.03 on Tuesday. The stock’s market capitalization is $3.48 billion. NRG Energy has a 12 month low of $8.80 and a 12 month high of $18.32. The company’s 50-day moving average is $11.11 and its 200-day moving average is $13.18.

NRG Energy (NYSE:NRG) last released its earnings results on Friday, November 4th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.48. NRG Energy had a negative net margin of 47.59% and a positive return on equity of 10.15%. The company had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same period in the prior year, the company posted $0.65 EPS. The company’s revenue was down 10.9% compared to the same quarter last year. Equities analysts anticipate that NRG Energy will post $0.92 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 1st were paid a dividend of $0.03 per share. The ex-dividend date was Friday, October 28th. This represents a $0.12 annualized dividend and a dividend yield of 1.09%. NRG Energy’s dividend payout ratio is currently -0.66%.

Several institutional investors have recently modified their holdings of NRG. Price T Rowe Associates Inc. MD boosted its position in shares of NRG Energy by 27.0% in the third quarter. Price T Rowe Associates Inc. MD now owns 37,901,769 shares of the company’s stock valued at $424,879,000 after buying an additional 8,059,744 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of NRG Energy by 23.3% in the second quarter. Vanguard Group Inc. now owns 34,317,068 shares of the company’s stock valued at $514,413,000 after buying an additional 6,479,369 shares in the last quarter. Carlson Capital L P boosted its position in shares of NRG Energy by 19.5% in the second quarter. Carlson Capital L P now owns 12,646,138 shares of the company’s stock valued at $189,566,000 after buying an additional 2,064,740 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of NRG Energy by 5.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 11,966,739 shares of the company’s stock valued at $134,147,000 after buying an additional 648,116 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of NRG Energy by 3.3% in the second quarter. Bank of New York Mellon Corp now owns 7,028,345 shares of the company’s stock valued at $105,356,000 after buying an additional 221,668 shares in the last quarter. 96.86% of the stock is owned by institutional investors.

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