NRG Energy, Inc. (NYSE:NRG) declared a quarterly dividend on Tuesday, July 20th, RTT News reports. Investors of record on Monday, August 2nd will be given a dividend of 0.325 per share by the utilities provider on Monday, August 16th. This represents a $1.30 annualized dividend and a dividend yield of 3.24%.
NRG Energy has raised its dividend payment by 900.0% over the last three years and has increased its dividend every year for the last 1 years. NRG Energy has a payout ratio of 45.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect NRG Energy to earn $6.25 per share next year, which means the company should continue to be able to cover its $1.30 annual dividend with an expected future payout ratio of 20.8%.
NYSE NRG opened at $40.13 on Thursday. The firm has a market cap of $9.82 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 0.15 and a beta of 0.85. NRG Energy has a twelve month low of $28.22 and a twelve month high of $44.08. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 5.74. The business has a 50-day simple moving average of $37.11.
In related news, SVP David Callen sold 13,300 shares of the stock in a transaction that occurred on Thursday, July 1st. The stock was sold at an average price of $40.08, for a total value of $533,064.00. Following the completion of the sale, the senior vice president now owns 40,489 shares of the company’s stock, valued at $1,622,799.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.83% of the stock is currently owned by company insiders.
NRG has been the subject of a number of research analyst reports. The Goldman Sachs Group upgraded shares of NRG Energy from a “buy” rating to a “conviction-buy” rating in a research report on Sunday, June 27th. Seaport Global Securities increased their target price on NRG Energy from $42.00 to $47.00 and gave the company a “buy” rating in a report on Monday, June 21st. Finally, Morgan Stanley reduced their target price on NRG Energy from $51.00 to $47.00 and set an “overweight” rating for the company in a report on Tuesday, April 20th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. NRG Energy currently has a consensus rating of “Buy” and a consensus price target of $47.00.
About NRG Energy
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 3.6 million residential, industrial, and commercial consumers.
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