NRG Energy Inc

NRG: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$68.00	Zkms	Sqsbgvb

NRG Energy: Texas Weather, Elliott's Displeasure Heating Up

Travis Miller

Jun 27, 2023

We are reaffirming our $37 fair value estimate for NRG Energy after activist investor Elliott Management published a letter deriding the strategy NRG management detailed at the company's investor day on June 22. At the same time, hot weather in NRG's core Texas market should boost earnings this year, masking any near-term performance shortfalls.

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