NRG Energy, Inc. $NRG Shares Sold by Police & Firemen s Retirement System of New Jersey

Police & Firemen s Retirement System of New Jersey lowered its position in NRG Energy, Inc. (NYSE:NRG) by 58.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,078 shares of the utilities provider’s stock after selling 42,838 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in NRG Energy were worth $4,830,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Toth Financial Advisory Corp acquired a new position in NRG Energy during the second quarter worth about $27,000. Bank of Jackson Hole Trust acquired a new position in shares of NRG Energy during the 2nd quarter worth approximately $28,000. Fourth Dimension Wealth LLC purchased a new stake in shares of NRG Energy in the second quarter valued at $32,000. Kiker Wealth Management LLC acquired a new stake in shares of NRG Energy during the 2nd quarter worth about $37,000. Finally, ORG Partners LLC grew its holdings 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. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NRG has been the topic of a number of analyst reports. Melius Research began coverage on shares of NRG Energy in a research report on Wednesday, August 20th. They set a “buy” rating and a $308.00 target price on the stock. Zacks Research cut NRG Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday. Jefferies Financial Group reiterated a “buy” rating and issued a $198.00 target price on shares of NRG Energy in a research note on Monday, October 20th. Wells Fargo & Company raised NRG Energy to a “strong-buy” rating in a research note on Tuesday, October 28th. Finally, Barclays lifted their price target on NRG Energy from $197.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $198.31.

NRG Energy Trading Down 0.7%

NYSE:NRG opened at $165.07 on Friday. The business’s 50-day moving average is $166.26 and its two-hundred day moving average is $156.27. The firm has a market capitalization of $31.63 billion, a PE ratio of 74.69 and a beta of 1.16. NRG Energy, Inc. has a 12 month low of $79.57 and a 12 month 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 results on Thursday, November 6th. The utilities provider reported $2.78 EPS for the quarter, topping the consensus estimate of $1.93 by $0.85. The firm had revenue of $7.64 billion for the quarter, compared to analyst estimates of $7.53 billion. NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.NRG Energy’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.90 EPS. Research analysts predict that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 3rd will be paid 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 (DPR) is currently 26.31%.

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

Insider Transactions at NRG Energy

In other NRG Energy news, VP Dak Liyanearachchi sold 10,672 shares of NRG Energy stock in a transaction that occurred 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 sale, the vice president directly 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.86% of the stock is owned by corporate insiders.

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.