34.18 0.00 (0.00%)
After hours: 5:30PM EDT
|Bid||31.60 x 1200|
|Ask||0.00 x 46000|
|Day's Range||33.67 - 34.18|
|52 Week Range||22.90 - 35.17|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 31, 2018 - Nov 5, 2018|
|Forward Dividend & Yield||0.12 (0.35%)|
|1y Target Est||39.17|
Let’s take a look at institutional activity in NRG Energy (NRG), one of the smallest components of the Utilities SPDR ETF (XLU). Almost all the top institutional investors except the Vanguard Group lowered their respective stakes in NRG during the second quarter. The Vanguard Group added a net ~0.4 million shares of NRG and increased its total stake to 11.6% on June 30.
NRG Energy (NRG) sees solid earnings estimate revisions and looks poised to shock the market, and yet seems overlooked by the investors.
On August 10, the Utilities Select Sector SPDR ETF (XLU) had an implied volatility of 12%—close to its 15-day average. The SPDR S&P 500’s implied volatility was close to 9%, which is near its 15-day average. The implied volatility shows investors’ anxiety. Higher volatility is usually related to a fall in a stock’s price.
Stock markets are likely to remain volatile in near future due to trade concerns, geopolitical conflicts and may be some sector specific issues.
Utility stocks are normally buttoned up, conservative types that don’t move around much. They cater to the income-focused investor who prefers smooth steadiness instead of rip-roaring capital appreciation. Sure, a few percentage points to the upside is always great. But it’s not the main focus.
Due to the recent rally in utilities, many utility stocks are offering a dull upside potential. Let’s see some of the utility stocks that have a potential gain going forward.
NRG Energy Inc. (NYSE: NRG) is planning a second $500 million share buyback once it closes one of two large divestments it is working on. The Houston- and New Jersey-based company completed its first $500 million buyback in the second quarter, according to NRG president and CEO Mauricio Gutierrez, who was speaking on the company’s Aug. 2 earnings conference call. NRG could also perform the buyback when it closes the sale of its South Central portfolio, Gutierrez said.
Let’s see how PPL (PPL) stock is currently trading and where it might go in the near future. On August 1, the stock was trading 2% above its 50-day moving average and 6% below its 200-day moving average. Its 200-day moving average of $30.24 is expected to act as a resistance for PPL going forward. Its 50-day moving average of $27.87 is likely to act as a support for the stock in the near future. It’s currently trading at $28.54.
Moody's Investors Service, ("Moody's") maintained Baa3 ratings on Cleco Corporate Holdings LLC's (Cleco) now senior unsecured $100 million revolving credit facility, $350 million senior notes and $535 million senior notes. This follows the release, on 31 July 2018, of the pledge of Cleco's equity interests in utility subsidiary Cleco Power LLC (A3 stable) as security in all of Cleco's debt agreements. Cleco's ratings remain under review for downgrade as a result of the pending acquisition of generating assets from NRG Energy, Inc. (Ba3 CFR, positive).
NRG Energy (NRG), which saw the largest stock rally among utilities last year, reported its second-quarter financial results today. It reported EPS of $0.31, missing analysts’ estimate and marking a YoY (year-over-year) fall from $0.36. The company’s adjusted EBITDA rose 23% YoY to $843 million from $686 million.
The Princeton, New Jersey-based company said it had net income of 61 cents per share. The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research ...
Few U.S. energy policies can bring together coal miners, oil drillers, environmentalists, Republicans and Democrats. A Reuters survey of the top 10 U.S. power companies showed eight have no plans to purchase and install carbon capture and storage (CCS) equipment, citing high costs and uncertain demand, while the other two declined to comment. The technology employs sophisticated equipment to pull carbon dioxide from industrial plants and then inject it underground so it never pollutes the atmosphere.
PRINCETON, N.J.-- -- Transformation Plan on track with $225 million in cost savings realized through second quarter of 2018, and up to $3 billion in asset sales on track to close in 2018 Completed $500 million of the previously announced 2018 $1 billion share buyback program Consummated settlement and obtained releases from GenOn NRG Energy, Inc. today reported second quarter 2018 income from continuing ...
NRG Energy, Inc. (NRG) today announced that it gave the required notice under the indenture governing its 6.25% Senior Notes due 2022 (the “2022 Notes”) to redeem for cash $486,000,000.00 aggregate principal amount of its 2022 Notes (the “Partial Redemption”) on August 31, 2018 (the “Redemption Date”). The redemption price for the 2022 Notes will be 103.125% of the principal amount of the 2022 Notes, plus accrued and unpaid interest to the Redemption Date.
Let's focus on some domestic-focused matured utilities stocks that are scheduled to report second-quarter earnings on Aug 2, 2018.
According to analysts’ consensus, AES Corporation (AES) has a mean target price of $13.44 compared to its current market price of $13.40. SCANA (SCG) has a mean price target of $39.40, which implies a downside of 2% for the next year. Analysts’ mean target price of $38.19 for NRG Energy (NRG) stock implies a 22% upside to its current price of $31.36 over the next 12 months.
Research coverage has been initiated by WallStEquities.com on NRG Energy Inc. (NYSE: NRG), PNM Resources Inc. (NYSE: PNM), Sempra Energy (NYSE: SRE), and TerraForm Power Inc. (NASDAQ: TERP). Last Friday, shares in Princeton, New Jersey headquartered NRG Energy Inc. ended the session 0.32% lower at $31.58.