38,811 Shares in NRG Energy, Inc. (NYSE:NRG) Bought by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC purchased a new stake in NRG Energy, Inc. (NYSE:NRG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 38,811 shares of the utilities provider’s stock, valued at approximately $3,022,000.

Other hedge funds also recently made changes to their positions in the company. LifeSteps Financial Inc. bought a new stake in NRG Energy in the first quarter valued at about $31,000. Rothschild Investment LLC bought a new stake in shares of NRG Energy in the 2nd quarter valued at approximately $32,000. Mather Group LLC. bought a new position in shares of NRG Energy during the 1st quarter worth approximately $33,000. First Horizon Advisors Inc. boosted its stake in NRG Energy by 76.1% in 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 in the last quarter. Finally, Crewe Advisors LLC acquired a new stake in NRG Energy in the 1st quarter valued at $36,000. Institutional investors and hedge funds own 97.72% of the company’s stock.

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 shares were sold at an average price of $80.35, for a total value of $8,244,151.05. Following the transaction, 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 available at this link. 0.86% of the stock is owned by corporate insiders.

NRG Energy Stock Performance

Shares of NRG Energy stock opened at $87.09 on Friday. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.18 and a quick ratio of 1.11. The firm has a 50 day simple moving average of $78.60 and a 200 day simple moving average of $76.43. NRG Energy, Inc. has a fifty-two week low of $36.61 and a fifty-two week high of $87.58. The firm has a market cap of $18.16 billion, a P/E ratio of 12.34 and a beta of 1.10.

NRG Energy (NYSE:NRG) last released its earnings results on Thursday, August 8th. The utilities provider reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $1.82. The company had revenue of $6.66 billion during the quarter, compared to the consensus estimate of $8.32 billion. NRG Energy had a return on equity of 43.69% and a net margin of 7.19%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.10 earnings per share. Sell-side analysts predict that NRG Energy, Inc. will post 4.45 earnings per share for the current fiscal year.

NRG Energy Announces Dividend

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

Wall Street Analyst Weigh In

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