Raising NRG Energy FVE After Better-Than-Expected Capacity Prices
We are raising our fair value estimate for NRG Energy to $23 per share from $21.50 after incorporating better-than-expected results from the PJM 2021-22Â Reliability Pricing Model capacity auction. We are reaffirming our no-moat and stable moat trend ratings.Capacity auction clearing prices came in 15% higher than we expected in the ComEd zone where most of NRG's mid-Atlantic generation capacity is located. Prices in the other mid-Atlantic zones where NRG owns capacity were mostly in line with o...
NRG Energy is an energy company. The company produces and sells electricity and related products and services in primary power markets in the United States and Canada. The company sells energy, services, and sustainable products and services directly to retail customers under the names NRG, Reliant, Green Mountain Energy, Stream and XOOM Energy, as well as other brand names owned by the company The company's segments are: Retail, which includes retail energy, portable solar and battery products home services, and a variety of bundled products; and Generation, which includes plant operations, commercial operations, development, engineering and construction, asset management, energy services and other related functions.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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