Profund Advisors LLC Purchases 3,085 Shares of NRG Energy, Inc. (NYSE:NRG)

Profund Advisors LLC increased its holdings in NRG Energy, Inc. (NYSE:NRG) by 36.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,512 shares of the utilities provider’s stock after acquiring an additional 3,085 shares during the period. Profund Advisors LLC’s holdings in NRG Energy were worth $896,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Symmetry Investments LP purchased a new stake in shares of NRG Energy during the 2nd quarter valued at $1,661,000. Ensign Peak Advisors Inc grew its position in NRG Energy by 34.4% during the second quarter. Ensign Peak Advisors Inc now owns 193,612 shares of the utilities provider’s stock valued at $15,075,000 after buying an additional 49,590 shares during the period. Wolf Hill Capital Management LP purchased a new stake in NRG Energy during the second quarter worth about $23,358,000. Canada Pension Plan Investment Board purchased a new stake in NRG Energy during the second quarter worth about $43,134,000. Finally, Benjamin F. Edwards & Company Inc. raised its position in NRG Energy by 9.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 6,249 shares of the utilities provider’s stock worth $486,000 after acquiring an additional 547 shares during the period. 97.72% of the stock is currently owned by institutional investors.

NRG Energy Price Performance

NYSE:NRG opened at $87.92 on Wednesday. NRG Energy, Inc. has a 52-week low of $36.61 and a 52-week high of $90.57. The stock has a fifty day moving average of $79.08 and a 200 day moving average of $76.92. 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 firm has a market capitalization of $18.33 billion, a price-to-earnings ratio of 12.45 and a beta of 1.10.

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

NRG Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were given a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Thursday, August 1st. NRG Energy’s dividend payout ratio (DPR) is currently 23.09%.

Insider Activity

In related news, insider Rasesh M. Patel sold 102,603 shares of the company’s stock in a transaction 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 in the company, valued at $13,151,688. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.86% of the company’s stock.

Wall Street Analyst Weigh In

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

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.