UPDATE: Oppenheimer Starts NRG Yield (NYLD) at Perform

September 8, 2016 6:54 AM EDT
Get Alerts NYLD-A Hot Sheet
Price: $16.25 +1.56%

Rating Summary:
    0 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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(Updated - September 8, 2016 9:52 AM EDT)

Oppenheimer initiated coverage on NRG Yield (NYSE: NYLD) with a Perform rating. Analyst Colin Rusch noted that the company is highly levered relative to peers.

"We believe that NYLD benefits from its scale and diverse portfolio of generating assets. However, the company is also highly levered relative to peers, and while we acknowledge the cash flow-matching characteristics inherent in its debt portfolio, we note that cash flow variability caused by resource availability could result in a strain on the company’s liquidity. We also note that our runoff scenario suggests that without additional CAFDS-accretive acquisitions, the company risks not being able to meet its current debt service and simultaneously achieve its goal of 15% annual dividend growth," said Rusch.

For an analyst ratings summary and ratings history on NRG Yield click here. For more ratings news on NRG Yield click here.

Shares of NRG Yield closed at $17.33 yesterday.

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