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Stock Alert: Will NRG Energy Be Stronger In 2020?

Shares of NRG Energy, Inc. (NRG) closed Tuesday's trading 1.33% higher at $39.75. The stock has been trading in a range of $32.63 to $43.66 for the past one year.

NRG Energy is a power manufacturer and distributor that serves approximately 3.7 million customers. In August last year, NRG added more than 600,000 customer equivalents by acquiring Stream Energy's retail electricity and natural gas businesses.

The company's "Transformation Plan " which was launched in 2017, to lower its debt is on track. It had sold its South Central business to Cleco Corporate Holdings LLC in February last year. In September, the company had paid off $95 million debt associated with NRG Energy and JX Nippon's joint venture Petra Nova carbon capture project. NRG also issued a $12 million letter of credit to cover certain project debt reserve requirements, which makes the remaining project debt non-recourse to NRG.

The company had a target of $590 million cost savings in FY2019, out of which $401 million was achieved by the end of the third quarter ended September 30, 2019. Starting 2020, the company has decided to increase its annual dividend to $1.20 per share from $0.12 per share in 2019.

In the third quarter, income from continuing operations was $374 million, or $1.46 per share compared with $287 million or $0.88 per share a year ago. Analysts were expecting $2.1 per share.

Revenue for the quarter rose to $2.996 billion from $2.960 billion in the corresponding quarter last year.

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