Exactly one month after the company reported a net loss of $276 million on $779 million in Ebitda for the second quarter, Houston-based electricity provider NRG Energy (NRG) - Get NRG Energy, Inc. Reportsaw its stock crushed Friday, Sept. 9.
The company's shares fell 6% to $11.66 apiece by Friday's close, versus Thursday's close of $12.42 per share.
NRG was the worst performing utility on the market Friday, recording losses that slightly outpaced peers AES (AES) - Get AES Corporation Report, down 4.8% to $12.33; Public Service Enterprise Group (PEG) - Get Public Service Enterprise Group Inc Report, down 4.6% to $41.13 per share; Alliant Energy (LNT) - Get Alliant Energy Corp Report, down 4.4% to $37.14 per share; CenterPoint Energy (CNP) - Get CenterPoint Energy, Inc. (CNP) Stock Price, News, Buy or Sell Rating Report, down 4.4% to $22.61 per share; and Exelon (EXC) - Get Exelon Corporation Report,down 4.13% to $33.40 per share.
But the Dow Jones Utility Average as a whole was bludgeoned Friday, losing 3.75% on the day. Those utilities significantly leveraged to retail, including NRG, were among the worst daily decliners Friday, but wholesale and asset-based energy providers were not spared, with Consolidated Edison (ED) - Get Consolidated Edison, Inc. Report shares taking a 3.9% hit down to $72.95 apiece.