Aug 16, 2011
NRG Energy Inc. (NYSE:NRG) plans to purchase a Philadelphia retail electricity and natural-gas provider for $190 million in cash.
Based in Princeton, New Jersey NRG announced Tuesday that acquiring Energy Plus Holdings LLC would give the company an opportunity to widen its retail business in the Northeast.
The deal requires regulatory approvals from the Justice Department and the Federal Energy Regulatory Commission. It is expected to close in October.
NRG Energy (NYSE:NRG) has a potential upside of 21.1% based on a current price of $22.57 and an average consensus analyst price target of $27.33.
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