Forefront Wealth Management Inc. Makes New Investment in NRG Energy, Inc. $NRG

Forefront Wealth Management Inc. bought a new stake in shares of NRG Energy, Inc. (NYSE:NRG) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,520 shares of the utilities provider’s stock, valued at approximately $244,000.

Other large investors also recently modified their holdings of the company. Horizon Investments LLC grew its stake in NRG Energy by 3.0% during the first quarter. Horizon Investments LLC now owns 2,908 shares of the utilities provider’s stock worth $276,000 after buying an additional 86 shares in the last quarter. Mather Group LLC. boosted its position in shares of NRG Energy by 12.1% during the 1st quarter. Mather Group LLC. now owns 900 shares of the utilities provider’s stock worth $86,000 after acquiring an additional 97 shares in the last quarter. Cullen Frost Bankers Inc. increased its stake in NRG Energy by 13.0% in the first quarter. Cullen Frost Bankers Inc. now owns 904 shares of the utilities provider’s stock valued at $86,000 after acquiring an additional 104 shares during the last quarter. Private Trust Co. NA raised its position in NRG Energy by 8.7% during the first quarter. Private Trust Co. NA now owns 1,482 shares of the utilities provider’s stock valued at $141,000 after purchasing an additional 119 shares in the last quarter. Finally, Allworth Financial LP increased its stake in shares of NRG Energy by 19.2% in the 1st quarter. Allworth Financial LP now owns 758 shares of the utilities provider’s stock valued at $72,000 after purchasing an additional 122 shares during the last quarter. 97.72% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NRG Energy news, VP Dak Liyanearachchi sold 10,672 shares of the firm’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $155.00, for a total value of $1,654,160.00. Following the transaction, 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on NRG shares. Wall Street Zen downgraded NRG Energy from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. BMO Capital Markets raised their price target on shares of NRG Energy from $167.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, August 6th. Melius Research assumed coverage on shares of NRG Energy in a report on Wednesday, August 20th. They issued a “buy” rating and a $308.00 target price on the stock. Raymond James Financial assumed coverage on NRG Energy in a report on Friday, June 13th. They set a “strong-buy” rating and a $195.00 price target for the company. Finally, Melius started coverage on NRG Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $308.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $188.85.

NRG Energy Stock Performance

Shares of NRG opened at $168.66 on Monday. NRG Energy, Inc. has a one year low of $79.57 and a one year high of $175.96. The company has a market cap of $32.62 billion, a PE ratio of 76.32, a P/E/G ratio of 1.37 and a beta of 1.17. The stock has a 50-day moving average of $156.31 and a 200-day moving average of $139.04. The company has a debt-to-equity ratio of 5.99, a current ratio of 0.93 and a quick ratio of 0.88.

NRG Energy (NYSE:NRG) last announced its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.04). The firm had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.63 billion. NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.The firm’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.37 EPS. On average, equities research analysts predict that NRG Energy, Inc. will post 6.36 EPS for the current fiscal year.

NRG Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, August 1st. NRG Energy’s payout ratio is 79.64%.

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.