NRG Energy, Inc. (NYSE:NRG) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC raised its position in NRG Energy, Inc. (NYSE:NRG) by 218.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 97,992 shares of the utilities provider’s stock after purchasing an additional 67,258 shares during the period. Intech Investment Management LLC’s holdings in NRG Energy were worth $7,630,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. LifeSteps Financial Inc. purchased a new position in NRG Energy during the 1st quarter valued at about $31,000. Rothschild Investment LLC acquired a new position in shares of NRG Energy during the 2nd quarter worth approximately $32,000. Mather Group LLC. purchased a new stake in NRG Energy in the 1st quarter valued at approximately $33,000. First Horizon Advisors Inc. grew its holdings in NRG Energy by 76.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider’s stock valued at $34,000 after buying an additional 191 shares during the last quarter. Finally, Crewe Advisors LLC purchased a new position in NRG Energy during the first quarter worth $36,000. Hedge funds and other institutional investors own 97.72% of the company’s stock.

NRG Energy Trading Up 6.4 %

NRG stock opened at $87.09 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.18 and a debt-to-equity ratio of 3.51. The company has a market cap of $18.16 billion, a price-to-earnings ratio of 12.34 and a beta of 1.10. The business has a fifty day simple moving average of $78.46 and a 200-day simple moving average of $76.11. NRG Energy, Inc. has a 52 week low of $36.61 and a 52 week high of $87.58.

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

NRG Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were paid a dividend of $0.4075 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.63 annualized dividend and a yield of 1.87%. NRG Energy’s dividend payout ratio 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 transaction of $8,244,151.05. Following the completion of the sale, 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 filing with the SEC, which can be accessed through the SEC website. Insiders own 0.86% of the company’s stock.

Analysts Set New Price Targets

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