|Bid||36.18 x 900|
|Ask||36.22 x 1200|
|Day's Range||35.65 - 36.33|
|52 Week Range||19.54 - 41.78|
|Beta (5Y Monthly)||1.07|
|PE Ratio (TTM)||2.28|
|Earnings Date||Aug 05, 2020 - Aug 10, 2020|
|Forward Dividend & Yield||1.20 (3.33%)|
|Ex-Dividend Date||Apr 30, 2020|
|1y Target Est||44.30|
BGC Partners, Inc. (NASDAQ: BGCP) ("the Company" or "BGC"), a leading global brokerage and financial technology company, today announced that its subsidiary Amerex Energy Services ("Amerex") served as consultant and adviser to the City of Houston in its recent competitive power solicitation. This resulted in the City purchasing 100% renewable power from NRG Energy, Inc. (NYSE: NRG) ("NRG"), which will serve as the City's retail energy supplier. This 100% renewable energy purchase will commence on July 1, 2020 and continue for five years, with the City holding two one-year renewal options.
NRG Energy Inc.: NRG Energy is an integrated power company that produces, sells, and distributes energy and provides energy services in the U.S. NRG reported a 75% decline in net income on a 7% drop in revenue in Q1 2020, which ended March 31, 2020. Vornado Realty Trust: Vornado Realty Trust is a real estate investment trust (REIT) that owns office, retail, merchandise mart properties, and other real estate and related investments. The company reported a 48% decline in funds from operations (FFO) per diluted share for Q1 2020, which ended March 31, 2020.
The utilities sector is made up of companies that provide electricity, natural gas, water, sewage and other services to homes and businesses. Many of these companies are heavily regulated, and include Duke Energy Corp. (DUK), Southern Co. (SO), and American Electric Power Co. Inc. (AEC). Utilities stocks, as represented by the Utilities Select Sector SPDR ETF (XLU), have underperformed the broader market with a total return of -0.7% compared to the S&P 500's total return of 8.7% over the past 12 months. These market performance numbers and the statistics in the tables below are as of May 26.
Could NRG Energy, Inc. (NYSE:NRG) be an attractive dividend share to own for the long haul? Investors are often drawn...
The Trump administration has ended a two-year rent holiday for solar and wind projects operating on federal lands, handing them whopping retroactive bills at a time the industry is struggling with the fallout of the coronavirus outbreak, according to company officials. U.S. power plant owner Avangrid Inc, majority owned by Spain's Iberdrola, received a bill for more than $3 million for two years of rent on its 131-megawatt Tule wind project on federal land near San Diego, according to spokesman Paul Copleman. Officials at two other renewable projects also confirmed they had received retroactive rent bills from the federal government but asked not to be named discussing the issue as the industry continues to lobby the government for support to weather the downturn.
Moody's Investors Service ("Moody's") has downgraded the $82.9 million power supply project revenue bonds (Plum Point project) rating of Municipal Energy Agency of Mississippi (MEAM) to Baa2 from Baa1. The downgrade reflects continued limited economic strength within MEAM Plum Point participants' service area, which translates into members' weighted average credit quality towards to low-Baa rating category. The Baa2 rating is mostly supported by the credit profile of Plum Point's three largest participants, Greenwood Utilities Commission (unrated), Canton Municipal Utilities Commission (unrated) and Light & Water Commission of the City of Kosciusko (unrated) that jointly account for 84.3% of the overall members' pool, which we view as being stronger than the remaining participants.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Image source: The Motley Fool. NRG Energy Inc (NYSE: NRG)Q1 2020 Earnings CallMay 7, 2020, 9:00 a.m. ETContents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: OperatorLadies and gentlemen, [Technical Issues] and welcome to the NRG Energy First Quarter 2020 Earnings Conference Call.
NRG Energy, Inc. (NYSE: NRG) today reported first quarter 2020 income from continuing operations of $121 million, or $0.49 per diluted common share and Adjusted EBITDA for the first quarter of $349 million, cash flow from operations of $208 million and free cash flow before growth of $167 million.
Utility earnings in the first quarter are expected to have benefited from higher residential demand, while milder winter weather conditions could have offset some of the positives.
(Bloomberg) -- The last two independent power providers trading on Wall Street, Vistra Energy Corp. and NRG Energy Inc., are getting a unique chance to prove their mettle to investors, thanks to Covid-19.Over the past few years, both NRG and Vistra have each reduced their debt, boosted cash flows and pitched for investment-grade ratings. They’ve also expanded sales through their retail business and reduced their exposure to the impacts of wholesale energy price swings. Still, their shares have consistently underperformed regulated utilities, typically seen as a safer bet.Now, with the pandemic closing businesses nationwide, lowering demand for electricity, they face a new challenge. And investors are watching closely to see how well they stand up versus their regulated rivals.“If they show their ability to weather Covid-19 with minimum or no impact, that will be a pretty dramatic statement in their favor,” Stephen Byrd, an analyst at Morgan Stanley, said. “This is a big year to prove out how defensive they really are.”Vistra and NRG are down by more than 15% in the past year, significantly below the 4% decline for companies in the S&P 500 utility index. While regulated utilities including NextEra Energy Inc. and Duke Energy Corp. are expected to be largely insulated from the crisis, merchant power producers like Vistra and NRG have over the years proved to be way more vulnerable to such shocks.On April 14, West Virginia-based Longview Power LLC filed for Chapter 11, citing the impact of pandemic on already depressed power prices. That’s the latest of a series of merchant power producers that have already faced bankruptcy or restructuring, which includes Vistra and NRG. There were once about a dozen publicly-traded merchant power providers. Now there are two.Vistra emerged from the bankruptcy of Energy Future Holdings Corp. in 2016. NRG, which in 2003 filed for Chapter 11 protection, agreed three years ago to hand over struggling power producer GenOn Energy Inc. to bondholders. The company also was pressured by investors to unload assets as part of a broader restructuring.Now Vistra expects the pandemic to cause “minimal impacts” to its results this year, according to Chief Executive Officer Curtis Morgan.Since 2016, Vistra has almost tripled the number of retail customers, who now consume about 60% of the electricity it generates. The move has boosted margins, stabilized earnings and put the company “in a position to not only survive, but to grow,” Morgan said.Retail customers help mitigate price risks because those sales are typically held under longer-term contracts. Morgan said in a statement that sales to residential customers may rise as more people work from home, offsetting a decline in other segments.At NRG, the match between generation volumes and retail sales is “almost perfectly” balanced in Texas, where most of the company’s operations are based, according to CEO Mauricio Gutierrez. “Our model is a lot more resilient, a lot more stable than it was in the past,” Gutierrez said in a March interview, adding the company was “redefining competitive power”.Debt investors seem to be comfortable with that strategy. Vistra and NRG most-traded bonds have lost less than 1% this year, which compares to a 9% drop in U.S. high yield bonds, and are mostly traded above par. The companies’ strong cash flows, limited capital spending and no near-term maturities have helped support the bonds, according to Maergrethe Amoussou, an analyst at Segall Bryant & Hamill.“These companies have taken a lot of steps to strengthen both their business profile and well as their financial profile,” Shalini Mahajan, a managing director at Fitch Ratings, said in an interview. “Going into this down cycle, they’re in a much better position.”Other merchant power producers include Calpine Corp., which went private after executives felt its shares were undervalued, and Energy Harbor Corp., a former FirstEnergy Corp. subsidiary that emerged from bankruptcy earlier this year.While Vistra and NRG are in a better shape now, long-term challenges remain, according to Paul Patterson, an analyst for Glenrock Associates LLC. Merchant power producers are still poised to struggle, he said, as rising supplies of low-cost renewable power and competition from regulated utilities are seen pressuring their profit margins down over time.Vistra was down 3.1% at 2:48 p.m. in New York, while NRG slid 1%.(Adds chart after 5th paragraph, share move in last paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
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NRG Energy, Inc. (NYSE:NRG) plans to report First Quarter 2020 financial results on Thursday, May 7, 2020. Management will present the results during a conference call and webcast at 9:00 a.m. Eastern.
NRG Energy, Inc. (NYSE:NRG) today announced that its Board of Directors declared a quarterly dividend on the Company’s common stock of $0.30 per share, or $1.20 per share on an annualized basis. The dividend is payable on May 15, 2020 to stockholders of record as of May 1, 2020.
As cases of COVID-19 continue to rise in the U.S., NRG Energy has joined forces with Project HOPE to deliver lifesaving protective gear and equipment to America’s frontline health workers in partnership with the Business Roundtable and Healthcare Ready.
NRG Energy, Inc. (NYSE: NRG) announced today that, due to the increasing public health risk posed by COVID-19 and in accordance with current governmental state of emergency orders, NRG’s 2020 Annual Meeting of Stockholders will be changed from an in-person meeting to a virtual meeting to be held solely by means of remote communication.
As the battle to contain the COVID-19 pandemic continues, NRG Energy, Inc. (NYSE: NRG) announces broad efforts to aid those on the front lines of the pandemic response and provide relief to people adversely impacted.