NRG Energy Inc (NRG) Plans $0.03 Quarterly Dividend

NRG Energy Inc (NYSE:NRG) declared a quarterly dividend on Wednesday, October 17th, RTT News reports. Stockholders of record on Thursday, November 1st will be paid a dividend of 0.03 per share by the utilities provider on Thursday, November 15th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.32%.

NRG Energy has decreased its dividend payment by an average of 39.4% per year over the last three years. NRG Energy has a dividend payout ratio of 3.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect NRG Energy to earn $3.95 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 3.0%.

Shares of NYSE:NRG traded down $0.15 during trading on Wednesday, reaching $37.52. The company had a trading volume of 2,950,589 shares, compared to its average volume of 4,968,783. The firm has a market capitalization of $11.35 billion, a price-to-earnings ratio of 34.20 and a beta of 1.05. NRG Energy has a 12 month low of $23.75 and a 12 month high of $38.25. The company has a debt-to-equity ratio of 7.16, a current ratio of 1.30 and a quick ratio of 1.17.

NRG Energy (NYSE:NRG) last issued its quarterly earnings results on Thursday, August 2nd. The utilities provider reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.55). The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.72 billion. NRG Energy had a positive return on equity of 29.44% and a negative net margin of 9.30%. NRG Energy’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.36 EPS. As a group, equities research analysts expect that NRG Energy will post 3.84 EPS for the current year.

In other NRG Energy news, SVP David Callen sold 9,200 shares of the stock in a transaction on Monday, August 6th. The shares were sold at an average price of $33.21, for a total transaction of $305,532.00. Following the completion of the sale, the senior vice president now owns 39,759 shares of the company’s stock, valued at approximately $1,320,396.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Elizabeth R. Killinger sold 24,600 shares of the stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $35.84, for a total transaction of $881,664.00. Following the sale, the executive vice president now directly owns 106,125 shares of the company’s stock, valued at approximately $3,803,520. The disclosure for this sale can be found here. Insiders sold a total of 92,975 shares of company stock valued at $3,265,286 in the last ninety days. 0.38% of the stock is owned by corporate insiders.

A number of brokerages have recently issued reports on NRG. Zacks Investment Research cut shares of NRG Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 26th. Bank of America cut their price objective on shares of NRG Energy from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, July 25th. Citigroup cut shares of NRG Energy from a “buy” rating to a “neutral” rating and set a $33.00 price objective for the company. in a research note on Monday, July 30th. Macquarie upped their price objective on shares of NRG Energy from $40.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, September 20th. Finally, ValuEngine raised shares of NRG Energy from a “hold” rating to a “buy” rating in a research note on Saturday, October 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. NRG Energy has an average rating of “Buy” and an average price target of $37.00.

About NRG Energy

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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Dividend History for NRG Energy (NYSE:NRG)

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