Massachusetts Financial Services Co. MA Purchases 25,563 Shares of NRG Energy, Inc. (NYSE:NRG)

Massachusetts Financial Services Co. MA raised its position in NRG Energy, Inc. (NYSE:NRG) by 16.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 182,569 shares of the utilities provider’s stock after acquiring an additional 25,563 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.09% of NRG Energy worth $14,215,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. LifeSteps Financial Inc. purchased a new stake in shares of NRG Energy during the 1st quarter valued at about $31,000. Rothschild Investment LLC purchased a new stake in NRG Energy during the second quarter valued at approximately $32,000. Mather Group LLC. bought a new position in NRG Energy in the first quarter worth approximately $33,000. 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. Finally, Crewe Advisors LLC purchased a new position in shares of NRG Energy during the 1st quarter worth $36,000. Institutional investors own 97.72% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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 stock was sold at an average price of $80.35, for a total transaction 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 $13,151,688. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.86% of the company’s stock.

NRG Energy Stock Up 6.4 %

NYSE NRG opened at $87.09 on Friday. NRG Energy, Inc. has a 12 month low of $36.61 and a 12 month high of $87.58. The company has a current ratio of 1.18, a quick ratio of 1.11 and a debt-to-equity ratio of 3.51. The stock has a market cap of $18.16 billion, a PE ratio of 12.34 and a beta of 1.10. The stock’s 50 day moving average is $78.46 and its 200 day moving average is $76.11.

NRG Energy (NYSE:NRG) last released its earnings results 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 firm had revenue of $6.66 billion for the quarter, compared to the consensus estimate of $8.32 billion. NRG Energy had a net margin of 7.19% and a return on equity of 43.69%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.10 earnings per share. Research analysts predict that NRG Energy, Inc. will post 4.45 EPS for the current fiscal year.

NRG Energy Dividend Announcement

The company 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. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.63 dividend on an annualized basis and a dividend yield of 1.87%. NRG Energy’s payout ratio is 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.