NRG Energy Inc

NRG: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$43.00	Hbmky	Gbmvyzs

NRG Energy: Elliott Is Back but Upside Less Attractive Than 2017 Effort

Travis Miller

May 15, 2023

We are reaffirming our $37 fair value estimate for NRG Energy after the company confirmed that activist investor Elliott Management holds a 13% economic interest and is pushing for strategic changes. We are reaffirming our no-moat rating and High Morningstar Uncertainty Rating.

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