Hood River Capital Management LLC Purchases New Stake in NRG Energy, Inc. (NYSE:NRG)

Hood River Capital Management LLC acquired a new position in NRG Energy, Inc. (NYSE:NRG) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 49,512 shares of the utilities provider’s stock, valued at approximately $3,855,000.

Several other institutional investors have also recently added to or reduced their stakes in NRG. Rothschild Investment LLC bought a new stake in shares of NRG Energy during the 2nd quarter valued at about $32,000. First Horizon Advisors Inc. grew its holdings in shares of 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 purchasing an additional 191 shares during the last quarter. LifeSteps Financial Inc. acquired a new stake in shares of NRG Energy during the 1st quarter worth approximately $31,000. Innealta Capital LLC bought a new stake in shares of NRG Energy in the 2nd quarter worth approximately $36,000. Finally, Mather Group LLC. acquired a new position in NRG Energy during the 1st quarter valued at approximately $33,000. Institutional investors own 97.72% of the company’s stock.

Insider Buying and Selling

In other NRG Energy news, insider Rasesh M. Patel sold 102,603 shares of the company’s stock in a transaction dated 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 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 Securities & Exchange Commission, which is available through this hyperlink. 0.86% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on NRG. StockNews.com lowered NRG Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Wells Fargo & Company increased 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. Jefferies Financial Group assumed coverage on shares of NRG Energy in a research note on Friday, September 13th. They set a “hold” rating and a $82.00 target price for the company. Finally, Morgan Stanley upped 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 investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $73.75.

NRG Energy Stock Up 1.0 %

NRG stock opened at $88.00 on Tuesday. The firm’s 50-day moving average is $78.85 and its two-hundred day moving average is $76.72. The company has a market capitalization of $18.35 billion, a price-to-earnings ratio of 12.46 and a beta of 1.10. NRG Energy, Inc. has a 52 week low of $36.61 and a 52 week high of $90.57. The company has a current ratio of 1.18, a quick ratio of 1.11 and a debt-to-equity ratio of 3.51.

NRG Energy (NYSE:NRG) last announced its earnings results on Thursday, August 8th. The utilities provider reported $3.37 EPS for the quarter, topping 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%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.10 earnings per share. On average, analysts forecast that NRG Energy, Inc. will post 4.45 earnings per share for the current fiscal year.

NRG Energy Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.63 annualized dividend and a yield of 1.85%. NRG Energy’s dividend payout ratio is currently 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.