Bleakley Financial Group LLC Invests $249,000 in NRG Energy, Inc. (NYSE:NRG)

Bleakley Financial Group LLC purchased a new position in shares of NRG Energy, Inc. (NYSE:NRG) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,728 shares of the utilities provider’s stock, valued at approximately $249,000.

Several other hedge funds and other institutional investors have also bought and sold shares of NRG. Rothschild Investment LLC bought a new stake in shares of NRG Energy during the 2nd quarter worth $32,000. First Horizon Advisors Inc. raised its position in NRG Energy by 76.1% in the second quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 191 shares during the period. Crewe Advisors LLC purchased a new position in NRG Energy in the first quarter valued at about $36,000. Innealta Capital LLC bought a new position in shares of NRG Energy during the 2nd quarter valued at approximately $36,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of NRG Energy during the 3rd quarter worth approximately $36,000. Hedge funds and other institutional investors own 97.72% of the company’s stock.

Insider Transactions at NRG Energy

In other NRG Energy news, insider Rasesh M. Patel sold 102,603 shares of NRG Energy stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $80.35, for a total transaction of $8,244,151.05. Following the completion of the sale, the insider now directly owns 163,680 shares in the company, valued at $13,151,688. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.86% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. StockNews.com lowered NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. BMO Capital Markets increased their price target on NRG Energy from $88.00 to $90.00 and gave the stock a “market perform” rating in a research note on Monday, September 30th. Guggenheim boosted their price objective on NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Jefferies Financial Group began coverage on shares of NRG Energy in a research report on Friday, September 13th. They set a “hold” rating and a $82.00 target price for the company. Finally, Wells Fargo & Company boosted their price target 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. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $83.25.

NRG Energy Stock Performance

NRG Energy stock opened at $87.73 on Thursday. The firm’s 50 day simple moving average is $85.30 and its 200 day simple moving average is $80.22. The company has a current ratio of 1.18, a quick ratio of 1.11 and a debt-to-equity ratio of 3.51. NRG Energy, Inc. has a 1-year low of $41.02 and a 1-year high of $96.40. The firm has a market capitalization of $18.29 billion, a PE ratio of 12.43 and a beta of 1.10.

NRG Energy (NYSE:NRG) last released its quarterly earnings results on Thursday, August 8th. The utilities provider reported $3.37 earnings per share for the quarter, topping the consensus estimate of $1.55 by $1.82. The firm had revenue of $6.66 billion for the quarter, compared to analysts’ expectations of $8.32 billion. NRG Energy had a net margin of 7.19% and a return on equity of 43.69%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.10 earnings per share. As a group, analysts expect that NRG Energy, Inc. will post 5.51 earnings per share for the current fiscal year.

NRG Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a dividend of $0.4075 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.63 dividend on an annualized basis and a dividend yield of 1.86%. NRG Energy’s dividend payout ratio (DPR) is presently 23.09%.

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.