{"id":23731,"date":"2023-06-16T22:39:58","date_gmt":"2023-06-17T02:39:58","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/nrg-takes-a-stand-amid-fight-with-activist-elliott\/"},"modified":"2023-06-16T22:39:59","modified_gmt":"2023-06-17T02:39:59","slug":"nrg-takes-a-stand-amid-fight-with-activist-elliott","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=23731","title":{"rendered":"NRG Takes a Stand Amid Fight With Activist Elliott"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"SB50218587179888423468904590031510233352930\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>\n        NRG Energy<br \/>\n       will be making its case to investors next week while activist investor Elliott Management nips at the energy company\u2019s heels.<\/p>\n<p>It has been an eventful month for Houston-based NRG (ticker: NRG), with Elliott reinitiating an activist stake in the company after NRG announced in December that it would buy Vivint Smart Home. NRG shares fell 15% when the deal was announced. The Vivint acquisition closed in March but NRG stock still hasn\u2019t fully recovered, even though it sports a year-to-date gain of about 8%.<\/p>\n<div class=\"paywall\">\n<p>Since Elliott\u2019s stake became known, NRG has named a new chief financial officer and announced the sale of its 44% stake in the South Texas Project Electric Generating Station, a nuclear plant, for $1.75 billion. NRG also announced that it would hold an investor day on June 22. <\/p>\n<p>It\u2019s a showcase opportunity that NRG won\u2019t want to waste.<\/p>\n<p>\u201cIn our extensive investor conversations, it is apparent to us that NRG management has lost the support of a large share of the investor base,\u201d BofA Securities analyst Julien Dumoulin-Smith wrote in a note earlier this month. He rates NRG stock at Buy with a $42 price target.<\/p>\n<p>NRG declined to comment ahead of the meeting, but said last month that it \u201cwelcomes all shareholders\u2019 input and looks forward to an open dialogue with Elliott.\u201d<\/p>\n<p>Dumoulin-Smith sees NRG announcing some $100 million to $200 million in cost cuts next week. <\/p>\n<p>But with Elliott seeking board seats and more savings, it\u2019s unlikely that NRG\u2019s coming presentation will appease the activist firm. <\/p>\n<p><strong>Write to <\/strong>Carleton English at carleton.english@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/nrg-stock-activist-elliott-3a2b7417?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>NRG Energy will be making its case to investors next week while activist investor Elliott Management nips at the energy company\u2019s heels. It has been an eventful month for Houston-based NRG (ticker: NRG), with Elliott reinitiating an activist stake in the company after NRG announced in December that it would buy Vivint Smart Home. NRG [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":23732,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-23731","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NRG Takes a Stand Amid Fight With Activist Elliott | iFintechWorld<\/title>\n<meta name=\"description\" content=\"NRG Energy will be making its case to investors next week while activist investor Elliott Management nips at the energy company\u2019s heels. 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