Intech Investment Management LLC Acquires 32,421 Shares of NRG Energy, Inc. $NRG

Intech Investment Management LLC increased its holdings in NRG Energy, Inc. (NYSE:NRG) by 204.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,242 shares of the utilities provider’s stock after buying an additional 32,421 shares during the period. Intech Investment Management LLC’s holdings in NRG Energy were worth $7,747,000 as of its most recent SEC filing.

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

NRG Energy Trading Down 0.7%

NYSE NRG opened at $165.07 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 5.99. The stock’s 50-day simple moving average is $166.26 and its two-hundred day simple moving average is $156.59. NRG Energy, Inc. has a twelve month low of $79.57 and a twelve month high of $180.54. The company has a market capitalization of $31.63 billion, a price-to-earnings ratio of 74.69 and a beta of 1.16.

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 firm had revenue of $7.64 billion during the quarter, compared to analysts’ expectations of $7.53 billion. NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.90 EPS. Research analysts forecast that NRG Energy, Inc. will post 6.36 EPS for the current fiscal year.

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

NRG Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, November 3rd will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, November 3rd. NRG Energy’s dividend payout ratio (DPR) is presently 26.31%.

Insider Buying and Selling at NRG Energy

In other news, VP Dak Liyanearachchi sold 10,672 shares of the business’s stock in a transaction that occurred on Wednesday, September 10th. The shares were 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 directly owned 48,571 shares in the company, valued at approximately $7,528,505. The trade was a 18.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wall Street Zen cut shares of NRG Energy from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. BMO Capital Markets upped their price target 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. Scotiabank assumed coverage on NRG Energy in a research note on Monday, September 22nd. They set a “sector outperform” rating and a $212.00 price objective for the company. Barclays boosted their target price on NRG Energy from $197.00 to $203.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Finally, Melius started coverage on NRG Energy in a research report on Wednesday, August 20th. They set a “buy” rating and a $308.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $198.31.

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.