Trek Financial LLC Makes New $3.37 Million Investment in NRG Energy, Inc. $NRG

Trek Financial LLC acquired a new stake in shares of NRG Energy, Inc. (NYSE:NRG) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 20,976 shares of the utilities provider’s stock, valued at approximately $3,368,000.

Several other institutional investors have also recently made changes to their positions in NRG. Aviva PLC lifted its position in NRG Energy by 9.7% during the second quarter. Aviva PLC now owns 155,392 shares of the utilities provider’s stock valued at $24,953,000 after buying an additional 13,757 shares during the period. American Century Companies Inc. grew its position in shares of NRG Energy by 68.2% in the 2nd quarter. American Century Companies Inc. now owns 251,366 shares of the utilities provider’s stock worth $40,364,000 after buying an additional 101,922 shares during the period. Global Retirement Partners LLC bought a new position in shares of NRG Energy in the 2nd quarter worth about $418,000. Morningstar Investment Management LLC purchased a new position in NRG Energy during the 2nd quarter valued at about $244,000. Finally, Ethos Financial Group LLC bought a new stake in NRG Energy during the second quarter worth about $835,000. Institutional investors own 97.72% of the company’s stock.

Analyst Ratings Changes

NRG has been the subject of several recent research reports. Morgan Stanley reiterated an “underperform” rating on shares of NRG Energy in a report on Thursday, November 20th. Barclays upped their price target on NRG Energy from $197.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Jefferies Financial Group reiterated a “buy” rating and set a $198.00 price objective on shares of NRG Energy in a research note on Monday, October 20th. Melius Research began coverage on NRG Energy in a report on Wednesday, August 20th. They issued a “buy” rating and a $308.00 target price on the stock. Finally, Zacks Research downgraded NRG Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 13th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $198.31.

NRG Energy Stock Performance

NRG stock opened at $164.13 on Wednesday. The stock has a market capitalization of $31.45 billion, a PE ratio of 74.27 and a beta of 1.16. The stock’s 50 day simple moving average is $167.05 and its 200 day simple moving average is $159.33. NRG Energy, Inc. has a 12-month low of $79.57 and a 12-month high of $180.54. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 5.99.

NRG Energy (NYSE:NRG) last posted its quarterly earnings results on Thursday, November 6th. The utilities provider reported $2.78 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.85. The firm had revenue of $7.64 billion during the quarter, compared to analysts’ expectations of $7.53 billion. NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.The company’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.90 earnings per share. As a group, research analysts forecast that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, November 3rd were paid a dividend of $0.44 per share. The ex-dividend date was Monday, November 3rd. This represents a $1.76 annualized dividend and a yield of 1.1%. NRG Energy’s dividend payout ratio is currently 26.31%.

NRG Energy announced that its Board of Directors has approved a stock buyback program on Thursday, November 6th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the utilities provider to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at NRG Energy

In other NRG Energy news, VP Virginia Kinney sold 20,000 shares of NRG Energy stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $163.82, for a total value of $3,276,400.00. Following the completion of the sale, the vice president owned 43,191 shares of the company’s stock, valued at approximately $7,075,549.62. The trade was a 31.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Dak Liyanearachchi sold 10,672 shares of the stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $155.00, for a total value of $1,654,160.00. Following the transaction, the vice president directly owned 48,571 shares in the company, valued at $7,528,505. The trade was a 18.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.86% of the company’s stock.

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.