Sagefield Capital LP Invests $1.25 Million in NRG Energy, Inc. (NYSE:NRG)

Sagefield Capital LP acquired a new stake in shares of NRG Energy, Inc. (NYSE:NRG) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 15,999 shares of the utilities provider’s stock, valued at approximately $1,246,000.

Several other hedge funds also recently bought and sold shares of the business. Banco Santander S.A. purchased a new position in NRG Energy in the 2nd quarter worth about $217,671,000. Capitolis Liquid Global Markets LLC increased its position in shares of NRG Energy by 253.2% during the first quarter. Capitolis Liquid Global Markets LLC now owns 1,766,000 shares of the utilities provider’s stock worth $119,541,000 after acquiring an additional 1,266,000 shares during the period. Zimmer Partners LP bought a new stake in shares of NRG Energy during the first quarter valued at approximately $64,306,000. Assenagon Asset Management S.A. grew its stake in NRG Energy by 65.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,596,684 shares of the utilities provider’s stock worth $124,318,000 after purchasing an additional 633,765 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in NRG Energy during the 2nd quarter worth $43,134,000. Institutional investors own 97.72% of the company’s stock.

Insider Transactions at NRG Energy

In related news, insider Rasesh M. Patel sold 102,603 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $80.35, for a total value of $8,244,151.05. Following the completion of the transaction, the insider now directly owns 163,680 shares of the company’s stock, valued at approximately $13,151,688. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.86% of the company’s stock.

NRG Energy Stock Up 1.0 %

NYSE:NRG opened at $88.00 on Tuesday. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.11 and a current ratio of 1.18. The stock has a market capitalization of $18.35 billion, a P/E ratio of 12.46 and a beta of 1.10. The company’s 50-day simple moving average is $78.85 and its 200-day simple moving average is $76.72. NRG Energy, Inc. has a fifty-two week low of $36.61 and a fifty-two week high of $90.57.

NRG Energy (NYSE:NRG) last released its quarterly earnings results on Thursday, August 8th. The utilities provider reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $1.82. The business had revenue of $6.66 billion for the quarter, compared to analyst estimates of $8.32 billion. NRG Energy had a net margin of 7.19% and a return on equity of 43.69%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.10 earnings per share. On average, equities analysts anticipate that NRG Energy, Inc. will post 4.45 earnings per share for the current fiscal year.

NRG Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were issued a $0.4075 dividend. This represents a $1.63 annualized dividend and a yield of 1.85%. The ex-dividend date was Thursday, August 1st. NRG Energy’s dividend payout ratio is presently 23.09%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NRG. Morgan Stanley upped their target price on NRG Energy from $70.00 to $83.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 28th. Jefferies Financial Group started coverage on shares of NRG Energy in a research note on Friday, September 13th. They issued a “hold” rating and a $82.00 price objective for the company. Wells Fargo & Company raised their target price on shares of NRG Energy from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Finally, StockNews.com cut shares of NRG Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, NRG Energy presently has an average rating of “Hold” and an average target price of $73.75.

NRG Energy 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.