Symmetry Investments LP Buys New Position in NRG Energy, Inc. (NYSE:NRG)

Symmetry Investments LP purchased a new position in shares of NRG Energy, Inc. (NYSE:NRG) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 21,329 shares of the utilities provider’s stock, valued at approximately $1,661,000.

A number of other institutional investors have also modified their holdings of the company. Private Advisor Group LLC purchased a new stake in shares of NRG Energy in the fourth quarter valued at $238,000. Janney Montgomery Scott LLC raised its stake in NRG Energy by 55.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 9,475 shares of the utilities provider’s stock worth $490,000 after purchasing an additional 3,374 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of NRG Energy by 37.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,524 shares of the utilities provider’s stock valued at $79,000 after purchasing an additional 412 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in shares of NRG Energy during the 4th quarter valued at $51,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of NRG Energy by 1.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 46,338 shares of the utilities provider’s stock worth $2,396,000 after buying an additional 578 shares during the last quarter. Institutional investors and hedge funds own 97.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NRG. Jefferies Financial Group initiated coverage on NRG Energy in a research note on Friday, September 13th. They set a “hold” rating and a $82.00 price target for the company. Morgan Stanley increased their price objective on shares of NRG Energy from $70.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 28th. StockNews.com lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Finally, Wells Fargo & Company increased their price target on NRG Energy from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. Six 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, the company has an average rating of “Hold” and a consensus price target of $73.75.

Insiders Place Their Bets

In other NRG Energy news, insider Rasesh M. Patel sold 102,603 shares of the stock in a transaction 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 sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. 0.86% of the stock is currently owned by corporate insiders.

NRG Energy Stock Performance

Shares of NRG Energy stock opened at $87.09 on Friday. The firm has a market cap of $18.16 billion, a PE ratio of 12.34 and a beta of 1.10. NRG Energy, Inc. has a 1 year low of $36.61 and a 1 year high of $87.58. The firm’s 50-day simple moving average is $78.60 and its 200-day simple moving average is $76.31. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.11 and a current ratio of 1.18.

NRG Energy (NYSE:NRG) last announced its quarterly earnings data on Thursday, August 8th. The utilities provider reported $3.37 earnings per share (EPS) for the quarter, beating 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 return on equity of 43.69% and a net margin of 7.19%. NRG Energy’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.10 earnings per share. Equities analysts forecast that NRG Energy, Inc. will post 4.45 earnings per share for the current fiscal year.

NRG Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were paid a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a yield of 1.87%. The ex-dividend date was Thursday, August 1st. 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.