Canada Pension Plan Investment Board Buys New Shares in NRG Energy, Inc. (NYSE:NRG)

Canada Pension Plan Investment Board bought a new stake in NRG Energy, Inc. (NYSE:NRG) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 554,000 shares of the utilities provider’s stock, valued at approximately $43,134,000. Canada Pension Plan Investment Board owned 0.27% of NRG Energy as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of NRG. LifeSteps Financial Inc. purchased a new stake in NRG Energy in the first quarter valued at approximately $31,000. Rothschild Investment LLC acquired a new position in NRG Energy during the second quarter valued at approximately $32,000. Mather Group LLC. acquired a new position in NRG Energy during the first quarter valued at approximately $33,000. First Horizon Advisors Inc. lifted its position in NRG Energy by 76.1% during the second 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 in the last quarter. Finally, Crewe Advisors LLC acquired a new position in NRG Energy during the first quarter valued at approximately $36,000. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

NRG Energy Trading Up 6.4 %

NRG opened at $87.09 on Friday. The stock has a market capitalization of $18.16 billion, a PE ratio of 12.34 and a beta of 1.10. The firm’s fifty day moving average price is $78.60 and its 200 day moving average price is $76.43. 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, Inc. has a 12-month low of $36.61 and a 12-month high of $87.58.

NRG Energy (NYSE:NRG) last posted 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 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 firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.10 earnings per share. As a group, research analysts expect that NRG Energy, Inc. will post 4.45 EPS for the current fiscal year.

NRG Energy Dividend Announcement

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

Insider Activity at NRG Energy

In other NRG Energy news, insider Rasesh M. Patel sold 102,603 shares of the business’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 owns 163,680 shares in the company, valued at $13,151,688. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.86% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wells Fargo & Company lifted 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. Jefferies Financial Group started coverage on shares of NRG Energy in a research report on Friday, September 13th. They set a “hold” rating and a $82.00 price target on the stock. StockNews.com cut shares of NRG Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Finally, Morgan Stanley boosted their target price 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. Six equities research 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 a consensus rating of “Hold” and an average price target of $73.75.

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.