Jefferies Cuts Price Target On NRG Energy (NRG) to $21 After Q4 Results and Dividend News

Jefferies trimmed its price target on NRG Energy (NYSE: NRG) from $25 to $21 following Q4 results and plans by the company to initiate an annual dividend of $0.36 beginning in 3Q12. The firm is maintaining its Buy rating.

The firm notes NRG reported 4Q11 adjusted EBITDA of $390 million, versus First Call consensus of $401 million, Jefferies estimate of $400 million and $444 million reported in 4Q10. The quarter-over-quarter adjusted-EBITDA decline was driven by lower wholesale results in Texas and the Northeast, they said.

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

Shares of NRG Energy closed at $17.55 yesterday.

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