NRG Energy, Inc. $NRG Shares Bought by VestGen Investment Management

VestGen Investment Management raised its position in NRG Energy, Inc. (NYSE:NRG) by 85.8% in the 2nd quarter, Holdings Channel reports. The fund owned 9,726 shares of the utilities provider’s stock after purchasing an additional 4,492 shares during the period. NRG Energy accounts for 1.1% of VestGen Investment Management’s holdings, making the stock its 17th biggest holding. VestGen Investment Management’s holdings in NRG Energy were worth $1,562,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Toth Financial Advisory Corp acquired a new stake in shares of NRG Energy during the second quarter worth approximately $27,000. Kiker Wealth Management LLC acquired a new stake in shares of NRG Energy during the second quarter worth approximately $37,000. ORG Partners LLC grew its position in shares of NRG Energy by 422.2% during the second quarter. ORG Partners LLC now owns 282 shares of the utilities provider’s stock worth $44,000 after buying an additional 228 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of NRG Energy during the first quarter worth approximately $28,000. Finally, Key Financial Inc acquired a new stake in shares of NRG Energy during the first quarter worth approximately $30,000. Institutional investors and hedge funds own 97.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Melius Research assumed coverage on shares of NRG Energy in a research report on Wednesday, August 20th. They set a “buy” rating and a $308.00 price target for the company. Scotiabank began coverage on NRG Energy in a research note on Monday, September 22nd. They set a “sector outperform” rating and a $212.00 price objective on the stock. Barclays raised their price objective on NRG Energy from $197.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Wall Street Zen cut NRG Energy from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Morgan Stanley set a $145.00 price objective on NRG Energy and gave the stock an “outperform” rating in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, NRG Energy has an average rating of “Buy” and a consensus price target of $197.46.

Insider Activity at NRG Energy

In other news, VP Dak Liyanearachchi sold 10,672 shares of the firm’s stock in a transaction 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.86% of the company’s stock.

NRG Energy Stock Performance

NRG stock opened at $170.12 on Friday. The company has a debt-to-equity ratio of 5.99, a quick ratio of 0.88 and a current ratio of 0.93. The stock has a market capitalization of $32.91 billion, a price-to-earnings ratio of 76.98 and a beta of 1.14. NRG Energy, Inc. has a 1 year low of $79.57 and a 1 year high of $175.96. The stock’s fifty day moving average is $159.24 and its two-hundred day moving average is $148.53.

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

NRG Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 3rd will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, November 3rd. NRG Energy’s dividend payout ratio (DPR) 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.