Moors & Cabot Inc. Invests $207,000 in NRG Energy, Inc. $NRG

Moors & Cabot Inc. bought a new stake in shares of NRG Energy, Inc. (NYSE:NRG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,287 shares of the utilities provider’s stock, valued at approximately $207,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp purchased a new position in NRG Energy during the 2nd quarter valued at $27,000. Zions Bancorporation National Association UT purchased a new position in shares of NRG Energy during the first quarter valued at about $28,000. Bank of Jackson Hole Trust purchased a new position in shares of NRG Energy during the second quarter valued at about $28,000. Key Financial Inc bought a new position in NRG Energy in the first quarter worth about $30,000. Finally, Fourth Dimension Wealth LLC purchased a new stake in NRG Energy in the second quarter worth about $32,000. Hedge funds and other institutional investors own 97.72% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on NRG. Scotiabank began coverage on NRG Energy in a report on Monday, September 22nd. They set a “sector outperform” rating and a $212.00 target price on the stock. Barclays upped their price target on NRG Energy from $197.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Melius assumed coverage on NRG Energy in a report on Wednesday, August 20th. They issued a “buy” rating and a $308.00 price objective for the company. Morgan Stanley dropped their target price on shares of NRG Energy from $145.00 to $144.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 28th. Finally, BMO Capital Markets upped their target price on shares of NRG Energy from $185.00 to $195.00 and gave the stock a “market perform” rating in a research report on Friday. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, NRG Energy presently has a consensus rating of “Buy” and an average target price of $198.31.

NRG Energy Price Performance

NRG opened at $172.15 on Monday. The firm has a market cap of $33.30 billion, a PE ratio of 77.90 and a beta of 1.16. The stock has a 50-day moving average price of $164.34 and a 200-day moving average price of $154.58. NRG Energy, Inc. has a 1 year low of $79.57 and a 1 year high of $180.54. 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 released its quarterly earnings data on Thursday, November 6th. The utilities provider reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.85. The business had revenue of $7.64 billion during the quarter, compared to analyst estimates of $7.53 billion. NRG Energy had a net margin of 1.78% and a return on equity of 88.22%. NRG Energy’s revenue was up 5.7% compared to the same quarter last year. During the same period last year, the business earned $1.90 EPS. Sell-side analysts predict that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, November 3rd will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Monday, November 3rd. NRG Energy’s payout ratio is presently 26.31%.

NRG Energy declared that its board has authorized a stock buyback program on Thursday, November 6th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the utilities provider to buy up to 9.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at NRG Energy

In related news, VP Dak Liyanearachchi sold 10,672 shares of the company’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 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 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 hyperlink. Company insiders own 0.86% of the company’s stock.

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.