NEW YORK (TheStreet) -- Shares of NRG Energy Inc. (NRG) are higher by 6.15% to $31.78 in mid-afternoon trading on Wednesday, as energy stocks rise following two days of declines, after benchmark U.S. crude grew for the first time in five days, rising by $1.50 to $78.74 per barrel, the Associated Press reports.
Oil prices have been declining since the summer, and dropped further at the beginning of the week, after Saudi Arabia made the decision to sell its oil to the U.S. at bargain prices in an effort to maintain its market share during a boost in U.S. production, the AP added.
Additionally, NRG Energy stock may also be gaining due to its 2014 third quarter earnings results, which were released today.
The company posted an increase in net income to $168 million, or 48 cents per diluted share, compared to $119 million, or 36 cents per diluted share for the 2013 third quarter.
Revenue for the latest quarter grew to $4.56 billion, from $3.49 billion for last year's third quarter.
Separately, TheStreet Ratings team rates NRG ENERGY INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate NRG ENERGY INC (NRG) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth and increase in stock price during the past year. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, generally higher debt management risk and disappointing return on equity."
You can view the full analysis from the report here: NRG Ratings ReportNRG data by YCharts