In addition, NRG trades in electric power, natural gas and related commodities; environmental products; weather products; and financial products, including forwards, futures, options and swaps. Further, the company procures fuels; provides transportation services; and directly sells energy, services and products and services to retail customers under the NRG, Reliant, Green Mountain Energy, Stream, XOOM Energy and other brand names.
Investors receive a 3.65% dividend. The NRG Energy price target at Goldman Sachs is $46. The consensus figure is $43.73, and shares closed at $40.43 after a 3% bump on Thursday.
Phillips 66
This extremely diversified energy company has a long and successful operating history, and shares have backed up nicely. Phillips 66 (NYSE: PSX) operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties. The company holds many of these assets within its MLP, Phillips 66 Partners.
The company benefits from the tax-advantaged structure while still operating a more diversified operating business that also contains many assets that are not ideal MLP assets, such as its fast-growing chemical manufacturing business and its super-profitable refined products marketing business.
Phillips 66 remains a top refining idea across Wall Street, where many continue to see headroom for incremental capital returns. Most analysts are very constructive on a positive rate of change at Refining in 2022 at the company. In addition, they continue to see attractive nonefining value in the other segments.
Investors receive a 4.49% dividend. The Goldman Sachs price target is $109, which is lower than the $114.49 consensus target. Phillips 66 stock closed over 3% higher on Thursday at $88.33.
Each of these blue chip leaders is trading well below its 52-week high, is a leader in its sector and offers a significant and dependable dividend. Chasing a bear market rally, which has put the market in overbought territory, is not a good idea with the domestic economy sputtering, more tax-and-spend legislation heading down the pike, and inflation still trending at 40-year highs. Moving to these now could bring a smile to investors’ faces when the dangerous months of September and October roll around.
Originally posted at 24/7 Wall St.
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