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Morningstar‘s Stock Analysis NRG

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Is it the right time to buy or sell?
Is it the right time to buy or sell?

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Economic Moat


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NRG Moves Past Third-Quarter Challenges; Management Balancing Growth and Share Buybacks

Travis Miller Strategist

Analyst Note

| Travis Miller |

We are reaffirming our $37 fair value estimate for NRG Energy after the company announced $452 million of adjusted EBITDA in the third quarter, down from $767 million in the third quarter of 2021. We had anticipated the third quarter would be weak based on operational headwinds. Year-to-date results are on track with our full-year forecast. We are reaffirming our no-moat, stable moat trend, and High Uncertainty Ratings.

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Key Statistics NRG

Company Profile NRG

Business Description

NRG Energy is one of the largest retail energy providers in the U.S., with 7 million customers, including its 2021 acquisition of Direct Energy. It also is one of the largest U.S. independent power producers, with 16 gigawatts of nuclear, coal, gas, and oil power generation capacity primarily in Texas. Since 2018, NRG has divested its 47% stake in NRG Yield, among other renewable energy and conventional generation investments. NRG exited Chapter 11 bankruptcy as a stand-alone entity in December 2003.

804 Carnegie Center
Princeton, NJ, 08540
T +1 609 524-4500
Industry Utilities - Independent Power Producers
Most Recent Earnings Sep 30, 2022
Fiscal Year End Dec 31, 2021
Employees 6,635

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