Sage Mountain Advisors LLC Makes New Investment in NRG Energy, Inc. $NRG

Sage Mountain Advisors LLC acquired a new position in shares of NRG Energy, Inc. (NYSE:NRG) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 1,673 shares of the utilities provider’s stock, valued at approximately $269,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. AlphaQuest LLC boosted its stake in NRG Energy by 50.6% during the second quarter. AlphaQuest LLC now owns 4,978 shares of the utilities provider’s stock worth $799,000 after buying an additional 1,672 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of NRG Energy by 7.1% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 503,841 shares of the utilities provider’s stock valued at $80,907,000 after purchasing an additional 33,574 shares during the last quarter. West Michigan Advisors LLC acquired a new position in shares of NRG Energy in the 2nd quarter valued at $378,000. Asset Management One Co. Ltd. lifted its stake in shares of NRG Energy by 2.1% in the 2nd quarter. Asset Management One Co. Ltd. now owns 83,577 shares of the utilities provider’s stock valued at $13,421,000 after purchasing an additional 1,684 shares during the last quarter. Finally, First Citizens Bank & Trust Co. acquired a new position in shares of NRG Energy in the 2nd quarter valued at $274,000. Institutional investors and hedge funds own 97.72% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Morgan Stanley set a $145.00 price target on NRG Energy and gave the company an “outperform” rating in a research note on Wednesday. Scotiabank assumed coverage on NRG Energy in a research note on Monday, September 22nd. They issued a “sector outperform” rating and a $212.00 price target on the stock. Melius Research initiated coverage on NRG Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $308.00 price target on the stock. BMO Capital Markets boosted their price objective on NRG Energy from $167.00 to $185.00 and gave the company a “market perform” rating in a report on Wednesday, August 6th. Finally, Melius initiated coverage on NRG Energy in a report on Wednesday, August 20th. They issued a “buy” rating and a $308.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $197.46.

Insider Activity

In other news, VP Dak Liyanearachchi sold 10,672 shares of the company’s stock in a transaction dated 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 completion of the transaction, the vice president directly owned 48,571 shares of the company’s stock, valued at approximately $7,528,505. This represents a 18.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.61% of the company’s stock.

NRG Energy Trading Up 3.9%

NRG opened at $170.12 on Monday. NRG Energy, Inc. has a 12 month low of $79.57 and a 12 month high of $175.96. The stock has a market capitalization of $32.91 billion, a price-to-earnings ratio of 76.98 and a beta of 1.14. The company has a debt-to-equity ratio of 5.99, a current ratio of 0.93 and a quick ratio of 0.88. The business has a fifty day moving average price of $159.24 and a 200 day moving average price of $148.88.

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

NRG Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, November 3rd will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Monday, November 3rd. NRG Energy’s payout ratio is presently 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.