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Strength Seen in NRG Energy (NRG): Stock Soars 29.4%

Zacks

NRG Energy, Inc. NRG was a big mover last session, as the company saw its shares rise over 29% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. The stock picked up sharply from the near-flat trend of $16.12 to $17.64 in the past one month time frame.

The stock gained after the company unveiled its Transformation Plan that aims recurring cost and margin improvements of $1.065 billion, permanent SG&A reduction from asset sales and divestments of $210 million, along with the discharge of $13 billion of debt.

The company has seen two positive estimate revisions in the past one month, while its Zacks Consensus Estimate has also moved higher over the same time frame, suggesting that more solid trading could be ahead for NRG Energy. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.

NRG Energy currently has a Zacks Rank #2 (Buy), while its Earnings ESP is positive.

NRG Energy, Inc. Price

NRG Energy, Inc. Price | NRG Energy, Inc. Quote


Another stock worth considering in the Utility – Electric Power industry is Atlantica Yield plc ABY which sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Is NRG going up? Or down? Predict to see what others think: Up or Down

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