Coatue’s 35 Most Important AI Stocks

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

Number of Hedge Fund Holders: 49

NRG Energy, Inc. (NYSE:NRG) operates as an energy and home services company in the United States and Canada. The report for the third quarter of 2024 signals robust financial growth. For instance, the company produced Adjusted EBITDA of $1,055 million and free cash flow before growth investments of $815 million in the quarter, an increase of $68 million and $460 million, respectively, over the same period in the prior year. Year-over-year improved financial performance was driven primarily by margin expansion across all NRG reporting segments. The company’s collaboration with Renew Home would bring 1 gigawatt (GW) of capacity to the Texas grid by 2035, aiming to make it more resilient while helping residents save on energy costs. The company’s collaboration with Google Cloud would also maximize the power plant’s effectiveness.