NRG Yield, Inc. (NYSE:NYLD) announced a quarterly dividend on Thursday, August 3rd, Zacks reports. Stockholders of record on Friday, September 1st will be given a dividend of 0.28 per share by the utilities provider on Friday, September 15th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.93%. The ex-dividend date of this dividend is Wednesday, August 30th. This is a positive change from NRG Yield’s previous quarterly dividend of $0.27.
NRG Yield has increased its dividend by an average of 60.2% per year over the last three years. NRG Yield has a dividend payout ratio of 134.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect NRG Yield to earn $0.98 per share next year, which means the company may not be able to cover its $1.12 annual dividend with an expected future payout ratio of 114.3%.
Shares of NRG Yield (NYLD) opened at 18.90 on Friday. NRG Yield has a 52-week low of $13.98 and a 52-week high of $19.10. The firm has a market capitalization of $1.86 billion, a PE ratio of 41.18 and a beta of 2.57. The stock’s 50 day moving average price is $18.32 and its 200-day moving average price is $17.63.
NRG Yield (NYSE:NYLD) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. NRG Yield had a net margin of 4.47% and a return on equity of 1.89%. The company had revenue of $284 million for the quarter, compared to the consensus estimate of $297.66 million. During the same period in the previous year, the firm earned $0.29 EPS. NRG Yield’s revenue was up .4% on a year-over-year basis. Equities research analysts anticipate that NRG Yield will post $0.93 EPS for the current fiscal year.
A number of research firms have commented on NYLD. BidaskClub downgraded shares of NRG Yield from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Zacks Investment Research upgraded shares of NRG Yield from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Deutsche Bank AG downgraded shares of NRG Yield from a “buy” rating to a “hold” rating and dropped their target price for the stock from $19.00 to $18.00 in a report on Tuesday, July 18th. Royal Bank Of Canada reiterated a “hold” rating and issued a $17.00 target price on shares of NRG Yield in a report on Monday, July 31st. Finally, Williams Capital reiterated a “buy” rating on shares of NRG Yield in a report on Thursday, June 1st. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. NRG Yield presently has an average rating of “Buy” and a consensus target price of $20.00.
About NRG Yield
NRG Yield, Inc serves as the primary vehicle, through which NRG Energy, Inc owns, operates and acquires contracted renewable and conventional generation and thermal infrastructure assets. It owns a diversified portfolio of contracted renewable and conventional generation and thermal infrastructure assets in the United States.
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