Wealth Alliance LLC Makes New Investment in NRG Energy, Inc. $NRG

Wealth Alliance LLC bought a new position in NRG Energy, Inc. (NYSE:NRG) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,307 shares of the utilities provider’s stock, valued at approximately $210,000.

A number of other institutional investors also recently modified their holdings of the business. Daymark Wealth Partners LLC grew its stake in NRG Energy by 2.2% in the 2nd quarter. Daymark Wealth Partners LLC now owns 2,944 shares of the utilities provider’s stock valued at $473,000 after buying an additional 64 shares in the last quarter. Donald L. Hagan LLC grew its position in shares of NRG Energy by 2.0% in the second quarter. Donald L. Hagan LLC now owns 3,384 shares of the utilities provider’s stock valued at $543,000 after purchasing an additional 66 shares in the last quarter. Parkside Financial Bank & Trust grew its position in shares of NRG Energy by 6.2% in the second quarter. Parkside Financial Bank & Trust now owns 1,437 shares of the utilities provider’s stock valued at $231,000 after purchasing an additional 84 shares in the last quarter. Horizon Investments LLC raised its stake in shares of NRG Energy by 3.0% during the 1st quarter. Horizon Investments LLC now owns 2,908 shares of the utilities provider’s stock valued at $276,000 after purchasing an additional 86 shares during the period. Finally, Zions Bancorporation National Association UT lifted its holdings in NRG Energy by 32.1% during the 2nd quarter. Zions Bancorporation National Association UT now owns 383 shares of the utilities provider’s stock worth $62,000 after purchasing an additional 93 shares in the last quarter. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at NRG Energy

In related news, VP Dak Liyanearachchi sold 10,672 shares of the business’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 completion of the sale, the vice president owned 48,571 shares in the company, valued at $7,528,505. The trade was a 18.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.86% of the company’s stock.

Wall Street Analyst Weigh In

NRG has been the subject of a number of recent analyst reports. Melius initiated coverage on NRG Energy in a report on Wednesday, August 20th. They set a “buy” rating and a $308.00 target price for the company. Wells Fargo & Company raised shares of NRG Energy to a “strong-buy” rating in a research note on Tuesday, October 28th. 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 report on Friday, November 7th. Barclays increased their target price on shares of NRG Energy from $197.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Finally, Morgan Stanley reduced their price target on shares of NRG Energy from $145.00 to $144.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 28th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $198.31.

NRG Energy Price Performance

Shares of NYSE:NRG opened at $165.07 on Friday. The company’s fifty day moving average price is $166.26 and its 200-day moving average price is $155.94. 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 firm has a market capitalization of $31.63 billion, a price-to-earnings ratio of 74.69 and a beta of 1.16. NRG Energy, Inc. has a one year low of $79.57 and a one year high of $180.54.

NRG Energy (NYSE:NRG) last posted its quarterly earnings data on Thursday, November 6th. The utilities provider reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.85. The company had revenue of $7.64 billion during the quarter, compared to the consensus estimate of $7.53 billion. NRG Energy had a net margin of 1.78% and a return on equity of 88.22%. The firm’s revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.90 EPS. On average, equities research analysts anticipate that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy announced that its Board of Directors has initiated a share buyback plan on Thursday, November 6th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the utilities provider to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

NRG Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 3rd will be given a dividend of $0.44 per share. The ex-dividend date is Monday, November 3rd. This represents a $1.76 annualized dividend and a dividend yield of 1.1%. NRG Energy’s dividend payout ratio is 26.31%.

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.