NRG Energy Inc. [NYSE: NRG] stock went on an upward path that rose over 4.97% on Wednesday, amounting to a one-week price increase of more than 9.30%. The company report on April 3, 2024 at 8:30 AM that NRG Energy, Inc. Announces Repurchases with Holders of 2.75% Convertible Senior Notes due 2048.
NRG Energy, Inc. (NYSE:NRG) announced today that it has entered into separate, privately negotiated transactions with certain holders of its existing 2.75% convertible senior notes due 2048 (the “Convertible Notes”) to repurchase approximately $251 million aggregate principal amount of the Convertible Notes. The Convertible Notes repurchases are expected to close over a period ending on or about April 18, 2024, subject to customary closing conditions. Following the closing of the repurchases, and after giving effect to approximately $92 million aggregate principal amount of Convertible Notes that the Company had previously repurchased, approximately $232 million aggregate principal amount of Convertible Notes will remain outstanding.
This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state or jurisdiction in which the offer, solicitation, or sale would be unlawful prior to the registration or qualification thereof under the securities laws of any such state or jurisdiction.
Over the last 12 months, NRG stock rose by 110.00%. The one-year NRG Energy Inc. stock forecast points to a potential downside of -11.02. The average equity rating for NRG stock is currently 2.40, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $14.98 billion, with 208.13 million shares outstanding and 203.45 million shares in the current float. Compared to the average trading volume of 3.62M shares, NRG stock reached a trading volume of 5366511 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on NRG Energy Inc. [NRG]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NRG shares is $64.86 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NRG stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Wells Fargo have made an estimate for NRG Energy Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 23, 2024. While these analysts kept the previous recommendation, UBS raised their target price from $33 to $46. The new note on the price target was released on November 06, 2023, representing the official price target for NRG Energy Inc. stock. Previously, the target price had yet another raise to $50, while Guggenheim analysts kept a Buy rating on NRG stock. On March 20, 2023, analysts increased their price target for NRG shares from 35 to 36.
The Average True Range (ATR) for NRG Energy Inc. is set at 1.96, with the Price to Sales ratio for NRG stock in the period of the last 12 months amounting to 0.52. The Price to Book ratio for the last quarter was 6.64, with the Price to Cash per share for the same quarter was set at 2.72.
NRG Stock Performance Analysis:
NRG Energy Inc. [NRG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.30. With this latest performance, NRG shares gained by 24.82% in over the last four-week period, additionally plugging by 91.67% over the last 6 months – not to mention a rise of 110.00% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NRG stock in for the last two-week period is set at 77.19, with the RSI for the last a single of trading hit 76.86, and the three-weeks RSI is set at 76.80 for NRG Energy Inc. [NRG]. The present Moving Average for the last 50 days of trading for this stock 58.27, while it was recorded at 69.01 for the last single week of trading, and 46.10 for the last 200 days.
Insight into NRG Energy Inc. Fundamentals:
NRG Energy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.96 and a Current Ratio set at 1.02.
NRG Stock EPS
With the latest financial reports released by the company, NRG Energy Inc. posted -5.82/share EPS, while the average EPS was predicted by analysts to be reported at 1.05/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -654.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NRG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for NRG Energy Inc. go to 4.00%.
NRG Energy Inc. [NRG] Institutonal Ownership Details
The top three institutional holders of NRG stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in NRG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in NRG stock with ownership which is approximately 5.8386%.
