Hollencrest Capital Management Increases Stake in NRG Energy, Inc. (NYSE:NRG)

Hollencrest Capital Management increased its stake in NRG Energy, Inc. (NYSE:NRG) by 30,428.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,685 shares of the utilities provider’s stock after purchasing an additional 10,650 shares during the quarter. Hollencrest Capital Management’s holdings in NRG Energy were worth $973,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. acquired a new stake in shares of NRG Energy in the third quarter worth approximately $35,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of NRG Energy in the third quarter worth $36,000. Rothschild Investment LLC acquired a new position in NRG Energy in the second quarter worth $32,000. First Horizon Advisors Inc. boosted its holdings in NRG Energy by 76.1% in the second quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 191 shares during the period. Finally, Innealta Capital LLC acquired a new position in shares of NRG Energy during the second quarter valued at $36,000. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Rasesh M. Patel sold 102,603 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $80.35, for a total transaction of $8,244,151.05. Following the completion of the sale, the insider now owns 163,680 shares of the company’s stock, valued at $13,151,688. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.86% of the company’s stock.

NRG Energy Price Performance

NYSE NRG traded up $0.51 during midday trading on Friday, hitting $96.91. The company had a trading volume of 1,777,431 shares, compared to its average volume of 3,270,597. The company has a market capitalization of $20.00 billion, a PE ratio of 10.50, a P/E/G ratio of 1.30 and a beta of 1.10. The company has a current ratio of 1.18, a quick ratio of 1.11 and a debt-to-equity ratio of 3.51. The firm has a 50-day moving average price of $86.99 and a 200-day moving average price of $81.50. NRG Energy, Inc. has a twelve month low of $44.90 and a twelve month high of $102.84.

NRG Energy (NYSE:NRG) last announced its quarterly earnings data on Thursday, August 8th. The utilities provider reported $3.37 earnings per share for the quarter, topping the consensus estimate of $1.55 by $1.82. The business had revenue of $6.66 billion during the quarter, compared to the consensus estimate of $8.32 billion. NRG Energy had a return on equity of 43.69% and a net margin of 7.19%. NRG Energy’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.10 EPS. As a group, analysts anticipate that NRG Energy, Inc. will post 6.29 earnings per share for the current fiscal year.

NRG Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a $0.4075 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.63 annualized dividend and a dividend yield of 1.68%. NRG Energy’s payout ratio is 17.76%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NRG shares. StockNews.com downgraded shares of NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Guggenheim boosted their price target on NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Wells Fargo & Company upped their target price on NRG Energy from $120.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Citigroup upped their price target on NRG Energy from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Jefferies Financial Group assumed coverage on NRG Energy in a research note on Friday, September 13th. They issued a “hold” rating and a $82.00 target price for the company. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $96.00.

NRG Energy Company Profile

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.