Wolf Hill Capital Management LP Purchases New Shares in NRG Energy, Inc. (NYSE:NRG)

Wolf Hill Capital Management LP acquired a new position in shares of NRG Energy, Inc. (NYSE:NRG) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 300,000 shares of the utilities provider’s stock, valued at approximately $23,358,000. NRG Energy accounts for 2.3% of Wolf Hill Capital Management LP’s holdings, making the stock its 13th largest holding. Wolf Hill Capital Management LP owned approximately 0.14% of NRG Energy at the end of the most recent quarter.

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

NRG Energy Stock Performance

NRG Energy stock opened at $87.09 on Friday. The business has a 50 day moving average of $78.60 and a 200-day moving average of $76.31. The company has a market capitalization of $18.16 billion, a P/E 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 company has a debt-to-equity ratio of 3.51, a current ratio of 1.18 and a quick ratio of 1.11.

NRG Energy (NYSE:NRG) last released its quarterly earnings results 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 during 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 revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.10 earnings per share. On average, equities research analysts predict that NRG Energy, Inc. will post 4.45 earnings per share for the current year.

NRG Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were paid a $0.4075 dividend. The ex-dividend date was Thursday, August 1st. This represents a $1.63 annualized dividend and a dividend yield of 1.87%. NRG Energy’s payout ratio is 23.09%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of NRG Energy in a research report on Friday, September 13th. They set a “hold” rating and a $82.00 price objective for the company. StockNews.com cut shares of NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Wells Fargo & Company upped their target price on NRG Energy from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. Finally, Morgan Stanley raised their target price on NRG Energy from $70.00 to $83.00 and gave the company an “equal weight” rating in a report on Tuesday, May 28th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, NRG Energy presently 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 company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $80.35, for a total value of $8,244,151.05. Following the sale, 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 is accessible through this hyperlink. 0.86% of the stock is owned by corporate insiders.

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.