NRG Energy (NYSE:NRG) Updates FY24 Earnings Guidance

NRG Energy (NYSE:NRG) updated its FY24 earnings guidance on Friday. The company provided earnings per share guidance of $5.95-$6.75 for the period, compared to the consensus earnings per share estimate of $6.36.

NRG Energy Trading Up 4.3 %

NYSE:NRG opened at $96.40 on Friday. The firm has a market capitalization of $19.90 billion, a price-to-earnings ratio of 10.50, a price-to-earnings-growth ratio of 1.30 and a beta of 1.10. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.18 and a quick ratio of 1.11. The business has a fifty day moving average price of $86.99 and a 200-day moving average price of $81.50. NRG Energy has a one year low of $44.90 and a one year high of $97.35.

NRG Energy (NYSE:NRG) last posted its quarterly earnings data on Thursday, August 8th. The utilities provider reported $3.37 EPS for the quarter, topping the consensus estimate of $1.55 by $1.82. The firm had revenue of $6.66 billion for the quarter, compared to the consensus estimate of $8.32 billion. NRG Energy had a return on equity of 43.69% and a net margin of 7.19%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.10 earnings per share. Sell-side analysts forecast that NRG Energy will post 6.29 EPS for the current year.

NRG Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a $0.4075 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.63 dividend on an annualized basis and a dividend yield of 1.69%. NRG Energy’s dividend payout ratio (DPR) is presently 17.76%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NRG shares. StockNews.com lowered NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Jefferies Financial Group initiated coverage on shares of NRG Energy in a research note on Friday, September 13th. They set a “hold” rating and a $82.00 target price for the company. BMO Capital Markets increased their price target on NRG Energy from $90.00 to $94.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Citigroup upped their price objective on NRG Energy from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Guggenheim upped their price target on shares of NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, NRG Energy has an average rating of “Hold” and a consensus price target of $96.00.

Insiders Place Their Bets

In other news, insider Rasesh M. Patel sold 102,603 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $80.35, for a total value of $8,244,151.05. Following the sale, the insider now directly owns 163,680 shares in the company, valued at approximately $13,151,688. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.86% of the stock is owned by insiders.

About NRG Energy

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.