NRG Energy (NYSE:NRG) declared a quarterly dividend on Thursday, April 19th, RTT News reports. Shareholders of record on Tuesday, May 1st will be given a dividend of 0.03 per share by the utilities provider on Tuesday, May 15th. This represents a $0.12 dividend on an annualized basis and a yield of 0.38%.
NRG Energy has decreased its dividend by an average of 39.4% per year over the last three years. NRG Energy has a payout ratio of 21.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect NRG Energy to earn $2.49 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 4.8%.
Shares of NRG Energy stock opened at $31.38 on Thursday. NRG Energy has a 52-week low of $14.52 and a 52-week high of $31.78. The firm has a market capitalization of $9,926.18, a PE ratio of 28.79 and a beta of 0.90. The company has a debt-to-equity ratio of 7.99, a current ratio of 1.33 and a quick ratio of 1.17.
A number of brokerages have recently issued reports on NRG. Zacks Investment Research cut shares of NRG Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. UBS upped their price objective on shares of NRG Energy from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, March 28th. TheStreet raised shares of NRG Energy from a “d+” rating to a “c-” rating in a research note on Wednesday, March 21st. ValuEngine cut shares of NRG Energy from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Finally, SunTrust Banks reaffirmed a “hold” rating and issued a $29.00 price objective on shares of NRG Energy in a research note on Thursday, March 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $28.50.
NRG Energy announced that its Board of Directors has initiated a share buyback plan on Thursday, March 1st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the utilities provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
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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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