1832 Asset Management L.P. Invests $2.89 Million in NRG Energy, Inc. $NRG

1832 Asset Management L.P. purchased a new stake in NRG Energy, Inc. (NYSE:NRG) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,017 shares of the utilities provider’s stock, valued at approximately $2,893,000.

Several other large investors have also modified their holdings of the stock. Toth Financial Advisory Corp purchased a new stake in shares of NRG Energy during the second quarter valued at $27,000. Bank of Jackson Hole Trust acquired a new stake in NRG Energy during the 2nd quarter worth about $28,000. Fourth Dimension Wealth LLC purchased a new stake in NRG Energy during the second quarter valued at about $32,000. Twin Peaks Wealth Advisors LLC purchased a new stake in NRG Energy during the second quarter valued at about $35,000. Finally, Kiker Wealth Management LLC acquired a new position in shares of NRG Energy in the second quarter worth about $37,000. 97.72% of the stock is owned by institutional investors.

Insider Activity

In related news, VP Virginia Kinney sold 20,000 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $163.82, for a total value of $3,276,400.00. Following the transaction, the vice president owned 43,191 shares in the company, valued at $7,075,549.62. This trade represents a 31.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Dak Liyanearachchi sold 10,672 shares of the business’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $155.00, for a total transaction of $1,654,160.00. Following the sale, the vice president directly owned 48,571 shares of the company’s stock, valued at approximately $7,528,505. This trade represents a 18.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.86% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently commented on NRG. Jefferies Financial Group reaffirmed a “buy” rating and issued a $198.00 price objective on shares of NRG Energy in a research note on Monday, October 20th. BMO Capital Markets increased their target price on NRG Energy from $185.00 to $195.00 and gave the company a “market perform” rating in a report on Friday, November 7th. Wells Fargo & Company upgraded NRG Energy to a “strong-buy” rating in a report on Tuesday, October 28th. Scotiabank began coverage on NRG Energy in a research report on Monday, September 22nd. They set a “sector outperform” rating and a $212.00 price target on the stock. Finally, Weiss Ratings restated a “buy (b)” rating on shares of NRG Energy in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, NRG Energy has an average rating of “Moderate Buy” and a consensus price target of $198.31.

NRG Energy Trading Down 3.8%

Shares of NRG stock opened at $162.91 on Friday. The firm has a market capitalization of $31.22 billion, a P/E ratio of 24.35 and a beta of 1.26. NRG Energy, Inc. has a 1 year low of $79.57 and a 1 year high of $180.54. The firm’s fifty day simple moving average is $167.08 and its 200 day simple moving average is $159.46. The company has a current ratio of 1.05, a quick ratio of 0.99 and a debt-to-equity ratio of 8.45.

NRG Energy (NYSE:NRG) last released its earnings results on Thursday, November 6th. The utilities provider reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.85. NRG Energy had a return on equity of 103.57% and a net margin of 4.84%.The business had revenue of $7.64 billion for the quarter, compared to the consensus estimate of $7.53 billion. During the same period last year, the business earned $1.90 earnings per share. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, sell-side analysts predict that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy announced that its Board of Directors has approved a stock repurchase program on Thursday, November 6th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the utilities provider to repurchase up to 9.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

NRG Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 3rd were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, November 3rd. NRG Energy’s payout ratio is currently 26.31%.

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.