5 Best Electric Utility Stocks to Buy Now

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In this article, we discuss the 5 Best Electric Utility Stocks To Buy Now. If you want to read our detailed analysis of these stocks, go directly to the 10 Best Electric Utility Stocks to Buy Now.

5. NRG Energy, Inc. (NYSE: NRG)

Number of Hedge Fund Holders: 35

NRG Energy, Inc. (NYSE: NRG) is a Texas-based electric utility company serving 2.9 retail customers in Texas and the Northeast. It is ranked fifth on our list of 10 best electric utility stocks to buy now. The stock has returned over 21.96% to investors over the course of the past year.

On May 6, NRG Energy, Inc. (NYSE: NRG) posted earnings for the first quarter of 2021, reporting earnings per share of $0.24, missing estimates by $0.05. The revenue over the period was around $8.09 billion, up 300.74% year-over-year.

At the end of the first quarter of 2021, 35 hedge funds in the database of Insider Monkey held stakes worth $1.61 billion in NRG Energy, Inc. (NYSE: NRG), up from 31 the preceding quarter worth $1.47 billion.

On June 27, Goldman Sachs raised its rating on NRG Energy, Inc. (NYSE: NRG) to Conviction Buy from a Buy while raising its price target to $57 from $46. Goldman Sachs noted the retail business of NRG Energy, Inc. (NYSE: NRG), predicting strong free cash flows in 2022 and 2023.

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