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Sunday, February 25, 2018 4:36:48 PM
NRG has indicated it will seek projects averaging 13.75% unlevered pre-tax returns or return capital to shareholders, and UBS thinks the market would prefer share buybacks and is the message NRG likely will deliver, given the high bar set for investment returns.
UBS says incremental deleveraging likely is unnecessary, with pro forma net debt-to-EBITDA at 2.8x at year-end 2018 and an ongoing free cash flow yield of 13%; the firm also expects an update on progress toward cost-cuts and margin enhancements goals at the analyst day meeting.
UBS also initiates Vistra Energy (VST +1.7%) but with a Neutral rating and $21 target, seeing shares as fairly valued even with closing of the Dynegy deal, as the company is more exposed longer term to volatility in the power markets.
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Recent NRG News
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/07/2024 07:06:17 PM
- NRG Energy, Inc. Reports First Quarter Results and Reaffirms 2024 Financial Guidance • Business Wire • 05/07/2024 11:10:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/07/2024 11:06:38 AM
- NRG Energy, Inc. Announces Quarterly Dividend • Business Wire • 04/17/2024 08:48:00 PM
- NRG Energy, Inc. to Report First Quarter 2024 Financial Results on May 7, 2024 • Business Wire • 04/17/2024 11:30:00 AM
- NRG Energy, Inc. Announces Repurchases with Holders of 2.75% Convertible Senior Notes due 2048 • Business Wire • 04/03/2024 12:30:00 PM
- NRG Announces Changes in Leadership • Business Wire • 03/26/2024 12:03:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/07/2024 08:55:34 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 03/07/2024 08:53:30 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 10:19:47 PM
- NRG Energy, Inc. Reports Full Year 2023 Financial Results • Business Wire • 02/28/2024 12:06:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/28/2024 11:58:29 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/05/2024 10:24:14 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/05/2024 10:24:09 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/05/2024 10:24:04 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/05/2024 10:23:54 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/05/2024 10:23:50 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/05/2024 10:23:49 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/05/2024 10:23:49 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/05/2024 10:23:45 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/05/2024 10:23:40 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/05/2024 10:23:38 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/05/2024 10:23:35 PM
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