NRG Energy, Inc. (NYSE:NRG) Insider Rasesh M. Patel Sells 24,546 Shares of Stock

NRG Energy, Inc. (NYSE:NRG) insider Rasesh M. Patel sold 24,546 shares of NRG Energy stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $83.41, for a total value of $2,047,381.86. Following the completion of the transaction, the insider now directly owns 266,064 shares of the company’s stock, valued at $22,192,398.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NRG Energy Price Performance

NRG Energy stock opened at $81.48 on Tuesday. The firm has a market capitalization of $16.99 billion, a P/E ratio of 11.54 and a beta of 1.11. NRG Energy, Inc. has a 1 year low of $31.68 and a 1 year high of $86.00. The business has a 50-day moving average of $72.51 and a 200-day moving average of $58.52. The company has a current ratio of 1.01, a quick ratio of 0.95 and a debt-to-equity ratio of 3.61.

NRG Energy (NYSE:NRG) last posted its earnings results on Wednesday, February 28th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.20. The company had revenue of $6.81 billion during the quarter, compared to analyst estimates of $7.51 billion. NRG Energy had a return on equity of 42.60% and a net margin of 5.76%. On average, equities analysts anticipate that NRG Energy, Inc. will post 5.46 EPS for the current year.

NRG Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were given a dividend of $0.4075 per share. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $1.63 annualized dividend and a dividend yield of 2.00%. NRG Energy’s payout ratio is currently 23.09%.

Hedge Funds Weigh In On NRG Energy

Several institutional investors have recently modified their holdings of NRG. Virtu Financial LLC acquired a new position in shares of NRG Energy in the 1st quarter valued at approximately $349,000. National Wealth Management Group LLC grew its position in shares of NRG Energy by 15.9% in the 1st quarter. National Wealth Management Group LLC now owns 7,705 shares of the utilities provider’s stock valued at $522,000 after purchasing an additional 1,058 shares during the period. Yaupon Capital Management LP grew its position in shares of NRG Energy by 116.5% in the 1st quarter. Yaupon Capital Management LP now owns 188,400 shares of the utilities provider’s stock valued at $12,753,000 after purchasing an additional 101,378 shares during the period. Zimmer Partners LP acquired a new position in shares of NRG Energy in the 1st quarter valued at approximately $64,306,000. Finally, Tidal Investments LLC grew its position in shares of NRG Energy by 35.6% in the 1st quarter. Tidal Investments LLC now owns 29,321 shares of the utilities provider’s stock valued at $1,985,000 after purchasing an additional 7,705 shares during the period. 97.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NRG. Wells Fargo & Company lifted their price target on NRG Energy from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, May 15th. Citigroup lifted their price target on NRG Energy from $52.00 to $62.00 and gave the company a “buy” rating in a report on Friday, March 1st. Morgan Stanley lifted their price target on NRG Energy from $51.00 to $63.00 and gave the company an “equal weight” rating in a report on Tuesday, March 26th. Evercore ISI lifted their price target on NRG Energy from $55.00 to $65.00 and gave the company an “in-line” rating in a report on Monday, March 18th. Finally, StockNews.com raised NRG Energy from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $65.50.

About NRG Energy

NRG Energy, Inc, together with its subsidiaries, operates as an energy and home services company in the United States and Canada. It operates through Texas; East; West/Services/Other; Vivint Smart Home; and Corporate Activities segments. The company produces and sells electricity generated using coal, oil, solar, and battery storage; natural gas; and a cloud-based home platform, including hardware, software, sales, installation, customer service, technical support, and professional monitoring solutions.