10 S&P 500 Stocks That Outperformed Bitcoin in 2024

8. NRG Energy, Inc. (NYSE:NRG)

1-Year Price Performance: 108.12%

Number of Hedge Fund Holders: 49

NRG Energy, Inc. (NYSE:NRG) is a fully integrated power company that produces electricity and provides retail energy services. NRG has a diverse energy portfolio that includes natural gas, coal, nuclear, solar, and wind.

On January 21, Evercore ISI upgraded NRG Energy, Inc. (NYSE:NRG) from In-Line to Outperform, raising the price target from $74 to $126. The firm’s analysts emphasize NRG Energy’s potential as the market expects 2025 trends, citing opportunities created by the discrepancy between the expansion of power-generating assets and load growth.

In another vein, NRG Energy, Inc. (NYSE:NRG) recently formed strategic partnerships with Renew Home and Google Cloud to expand its Virtual Power Plant effort, planning to reach a GW of capacity within a decade.