NRG Energy, Inc. (NRG) Stock Price & Analysis
NRG Energy, Inc. (NRG) closed at USD 94.38 on Thursday, October 22, 2026, down 5.43% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 99.8; the Oct 22, 2026 session ranged USD 93.61–99.3 on volume of 3,875,371 shares. Market capitalization is $19.84B, with a 52-week range of USD 93.36–189.96 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 09:19 UTC.
Also available as compact Markdown for AI agents: nexqual.com/NRG.md
Key facts (NRG)
- Last four reported quarters (through Jun 30, 2026): revenue $33.1B, net income $849M (2.6% margin), free cash flow $348M (SEC filings).
- Valuation: P/E 23.4x (avg 26.9x at the last 2 fiscal year-ends), EV/EBITDA 12.1x, net debt $24.7B.
- Earnings quality: non-operating income -$967M vs operating income $2.02B over the last four quarters; P/E excluding non-operating income ≈12.2x (estimate: non-operating income taxed at the company's 19% effective rate).
- 1 of 80 tracked superinvestors hold NRG (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Analysts: Buy (mean 2.00 on a 1–5 scale) (18 analysts), mean target USD 179 (range 104–270).
- Total return with dividends: 1Y -41.7% vs S&P 500 +14.9%; 5Y +161.1% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD 3.05, revenue estimate $9.35B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (NRG)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $27.0B | $31.5B | $28.8B | $28.1B | $30.7B | $33.1B |
| Operating income | $3.34B | $2.02B | $384M | $2.42B | $1.84B | $2.02B |
| Net income | $2.19B | $1.22B | -$202M | $1.13B | $864M | $849M |
| EPS (diluted) | $8.93 | $5.17 | -$1.12 | $4.99 | $4.01 | — |
| Free cash flow | $224M | -$7.0M | -$819M | $1.83B | $766M | $348M |
| Operating margin | 12.4% | 6.4% | 1.3% | 8.6% | 6.0% | 6.1% |
| Net margin | 8.1% | 3.9% | -0.7% | 4.0% | 2.8% | 2.6% |
| Revenue growth | +196.8% | +16.9% | -8.6% | -2.4% | +9.2% | — |
| Cash + short-term investments | $250M | $430M | $541M | $966M | $4.71B | — |
| Total debt | $8.10B | $8.10B | $10.9B | $10.9B | $16.6B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (NRG)
P/E 23.4x · P/E ex non-operating (est.) ≈12.2x · P/S 0.6x · EV/EBITDA 12.1x · EV/Sales 1.4x · P/FCF 57.0x · P/B 4.1x · FCF yield 1.75% · Earnings yield 4.28% · Buyback yield (TTM) 8.26% · Net debt $24.7B · EV $44.6B
P/E at fiscal year-ends: Dec 2025 36.7x, Dec 2024 17.0x.
Superinvestors (SEC 13F-HR, Q2 2026) (NRG)
1 of 80 tracked investors hold NRG. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| David Tepper | Appaloosa Management | 3.44% | $257M | Added +1.5% |
Analysts (NRG)
Consensus Buy (mean 2.00 on a 1–5 scale), 18 analysts; mean target USD 179 (low 104, high 270).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-22 | HSBC | Initiated | Buy | $179 |
| 2026-10-21 | Morgan Stanley | Target lowered | Equal-Weight | $159 → $144 |
| 2026-09-18 | Morgan Stanley | Target lowered | Equal-Weight | $162 → $159 |
| 2026-08-21 | Morgan Stanley | Target lowered | Equal-Weight | $165 → $162 |
| 2026-08-05 | Scotiabank | Target lowered | Sector Outperform | $226 → $211 |
| 2026-08-05 | Evercore ISI Group | Target lowered | Outperform | $215 → $195 |
| 2026-07-28 | UBS | Target lowered | Buy | $221 → $216 |
| 2026-07-28 | BMO Capital | Target lowered | Market Perform | $213 → $212 |
| 2026-07-28 | Barclays | Target raised | Overweight | $200 → $204 |
| 2026-07-16 | Wells Fargo | Target raised | Overweight | $203 → $209 |
| 2026-07-15 | Scotiabank | Target raised | Sector Outperform | $223 → $226 |
Total return (dividends reinvested) (NRG)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | -41.7% | +161.1% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -41.8% | +21.1% |
| Volatility (annualized) | 50.0% | 41.4% |
| Max drawdown | -48.4% (Feb 2026→Oct 2026) | -47.0% (Feb 2026→Oct 2026) |
NRG revenue by business segment (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| East | $3.39B | 45.3% | +25.3% |
| Texas | $2.75B | 36.8% | -2.9% |
| West/Other | $643.0M | 8.6% | -0.9% |
| Vivint Smart Home | $548.0M | 7.3% | +10.9% |
| Total revenue | $7.48B | 100% | — |
NRG revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Total operating revenue | $2.75B | 36.7% | -3.5% |
| — Products & Services Retail Revenue (part of Total operating revenue) | $2.70B | 36.1% | -2.9% |
| — Products & Services Other (part of Total operating revenue) | $34.0M | 0.5% | -34.6% |
| — Energy Revenue (part of Total operating revenue) | $14.0M | 0.2% | -6.7% |
| Total revenue | $7.48B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
NRG suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | GE Vernova (GEV) | “On February 13, 2025, NRG signed a strategic Project Development Agreement with GE Vernova ("GEV") and Kiewit's subsidiary, TIC, to develop and construct up to 5.4 GW of new gas-fired, combined cycle generation projects.” |
Quoted from the company's 10-K filed Feb 24, 2026.
Companies that name NRG in their SEC reports
| Relationship to NRG | Company | Filing | Sentence |
|---|---|---|---|
| related | California Resources Corp (CRC) | 10-K Mar 2, 2026 | “•We own a 50% interest in a 240 MW cogeneration power plant located in the Midway Sunset field in Kern County and the remaining 50% is held by San Joaquin Energy Company, a subsidiary of NRG Energy, Inc. Our investment in this joint venture is accounted for using the equity method of accounting as discussed in Part II, Item 8 – Financial Statements and Supplementary Data, Note 4 Investments and Related Party Trans…” |
NRG analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $3.05 | $3.17 | -3.9% | $9.35B | 7 |
| Next quarter (ends Dec 2026) | $2.52 | $2.30 | +9.6% | $8.89B | 7 |
| Current fiscal year (ends Dec 2026) | $8.77 | $9.12 | -3.8% | $35.35B | 12 |
| Next fiscal year (ends Dec 2027) | $10.81 | $11.74 | -7.9% | $36.10B | 13 |
NRG options: expected move
Options price a move of about ±10.5% (±$9.90) by Nov 6, 2026, which includes earnings on Nov 5, 2026; the earnings reaction alone is priced at about ±5.5%. Over the last 8 reports the stock moved ±9.3% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Oct 30, 2026 | 7 | 56.5% | ±6.7% |
| Nov 6, 2026 | 14 | 64.6% | ±10.5% |
| Nov 13, 2026 | 21 | 60.7% | ±11.9% |
| Nov 20, 2026 | 28 | 58.7% | ±13.2% |
| Nov 27, 2026 | 35 | 56.3% | ±14.1% |
| Dec 4, 2026 | 42 | 53.6% | ±14.8% |
| Dec 18, 2026 | 56 | 53.9% | ±17.0% |
| Jan 15, 2027 | 84 | 52.6% | ±20.2% |
30-day implied volatility 58.3% vs 46.1% realized over the last 30 trading days. Put/call ratio (volume) 2.21. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 09:19 UTC)
| Price | USD 94.38 |
|---|---|
| Change | ▼ 5.43% (down) |
| Previous Close | USD 99.8 |
| Open | USD 98.99 |
| Day Range | USD 93.61 – 99.3 |
| 52-Week Range | USD 93.36 – 189.96 |
| Volume | 3,875,371 shares |
| Market Cap | $19.84B |
| Exchange | NYQ |
Technical Analysis (NRG)
Nexqual's technical model rates NRG "SELL" based on 1 bullish and 5 bearish signals across 127 daily candles, as of October 23, 2026 at 09:19 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 34.51 (neutral) |
| vs SMA50 | Below (USD 107.52) |
| MACD | -2.38 (negative) |
Analyst Ratings (NRG)
Wall Street analysts rate NRG "Buy" based on 18 analysts, with a mean price target of USD 179 (range USD 104–270), per Nexqual as of October 23, 2026 at 09:19 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 18 |
| Mean Target | USD 179 |
| High Target | USD 270 |
| Low Target | USD 104 |
| Buy / Hold / Sell | 15 / 3 / 0 |
Earnings (NRG)
| Next Earnings Date | 2026-11-05 |
|---|---|
| EPS Estimate | USD 3.05 |
| Revenue Estimate | $9.35B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 1.49 vs est 1.74 ▼ miss |
| 2026-03-31 | USD 1.49 vs est 1.73 ▼ miss |
| 2025-12-31 | USD 1.04 vs est 0.89 ▲ beat |
| 2025-09-30 | USD 2.78 vs est 2.13 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:19 UTC.
Financials & Fundamentals (NRG)
| Total Revenue | $33.12B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +11.00% |
| Gross Margin | +18.80% |
| Operating Margin | +12.77% |
| Profit Margin | +2.56% |
| ROE | +23.77% |
| Debt / Equity | 4.83 |
| Current Ratio | 0.97 |
| Total Cash | $162.00M |
| Total Debt | $23.47B |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | $348.00M (1.1% of revenue) |
Source: Nexqual, October 23, 2026 at 09:19 UTC.
Financial Health Score (NRG)
Nexqual rates NRG Energy, Inc.'s overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 09:19 UTC.
| Growth | Solid — Revenue +9% YoY (annual) |
|---|---|
| Profitability | Mixed — Gross margin 19%, operating 13% (last 12 months) |
| Balance Sheet | Critical — $162M cash and investments vs $24.9B debt (Jun 2026, SEC) |
| Cash Flow | Mixed — FCF $348M (last 4 quarters to Jun 2026, SEC), slim 1.1% margin |
| Efficiency | Strong — ROE 24%, ROA 4.1% |
Ownership (NRG)
| Insider Ownership | +4.46% |
|---|---|
| Institutional Ownership | +95.27% |
| Shares Outstanding | 210.21M |
| Float | 209.26M |
| Short % of Float | +3.91% |
Source: Nexqual, October 23, 2026 at 09:19 UTC.
Leadership (NRG)
NRG Energy, Inc. is led by Robert J. Gaudette, President, CEO & Director, per Nexqual as of October 23, 2026 at 09:19 UTC.
| President, CEO & Director | Robert J. Gaudette |
|---|---|
| EVP & CFO | Bruce Chung |
| Executive Vice President & President of NRG Consumer | Brad Bentley |
| Executive VP & CTO | Dak Liyanearachchi |
Major Backers & Investors (NRG)
Notable institutional backers of NRG Energy, Inc. include FMR, LLC, Franklin Resources, Inc., Victory Capital Management Inc., according to Nexqual as of October 23, 2026 at 09:19 UTC.
Active Investors
| Investor | Stake |
|---|---|
| FMR, LLC | 8% |
| Franklin Resources, Inc. | 6.18% |
| Victory Capital Management Inc. | 4.51% |
| Fidelity | 2.65% |
| Invesco | 2.5% |
| PUTNAM LARGE CAP VALUE FUND | 2.24% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 11.7% |
| BlackRock | 8.37% |
| State Street | 5.32% |
| Geode Capital | 2.83% |
Source: Nexqual, October 23, 2026 at 09:19 UTC.
From NRG Energy, Inc.'s Latest SEC 10-K Filing (filed 2026-02-24)
Partnerships
- Specifically, on July 31, 2025, the Company entered into a $216 million loan agreement with the PUCT under the TEF (the "First TEF Loan") to support the development of T.H.
- On September 26, 2025, the Company entered into a $562 million loan agreement with the PUCT under the TEF (the "Second TEF Loan") to support the development of Cedar Bayou 5, a 689 MW facility.
Legal & Regulatory Risks (Item 1A, quoted)
- NRG's business is subject to substantial energy regulation and may be adversely affected by legislative or regulatory changes, as well as liability under, or any future inability to comply with, existing or future energy regulations or requirements.
- NRG's business may be affected by interference in the competitive wholesale marketplace.
- The Capacity Performance product into the PJM market could lead to substantial changes in capacity income and non-performance penalties, which could have a material adverse effect on NRG's results of operations, financial condition and cash flows.
- NRG's businesses are subject to physical, market and economic risks relating to potential effects of climate change, and policies to regulate GHG emissions and mitigate climate change which could adversely impact NRG's results of operations, financial condition and cash flows.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| TLN | Talen Energy Corporation | USD 331.42 | ▼ 7.81% |
| VST | Vistra Corp. | USD 140.83 | ▼ 9.81% |
| OKLO | Oklo Inc. | USD 27.01 | ▼ 2.6% |
| CEG | Constellation Energy Corporatio | USD 255.21 | ▼ 5.74% |
| TAC | TransAlta Corporation | USD 12.51 | ▼ 6.22% |
| HNRG | Hallador Energy Company | USD 11.22 | ▼ 2.01% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:19 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt