First American Bank Acquires New Stake in NRG Energy, Inc. $NRG

First American Bank bought a new position in NRG Energy, Inc. (NYSE:NRG) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,247 shares of the utilities provider’s stock, valued at approximately $1,983,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Toth Financial Advisory Corp bought a new position in NRG Energy in the second quarter worth approximately $27,000. Bank of Jackson Hole Trust purchased a new stake in shares of NRG Energy in the 2nd quarter worth $28,000. Fourth Dimension Wealth LLC bought a new position in NRG Energy in the 2nd quarter worth $32,000. Twin Peaks Wealth Advisors LLC purchased a new position in NRG Energy during the second quarter valued at $35,000. Finally, Kiker Wealth Management LLC bought a new stake in NRG Energy during the second quarter valued at about $37,000. Hedge funds and other institutional investors own 97.72% of the company’s stock.

Insider Buying and Selling

In other NRG Energy news, VP Virginia Kinney sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $163.82, for a total transaction of $3,276,400.00. Following the completion of the transaction, the vice president owned 43,191 shares in the company, valued at $7,075,549.62. This trade represents a 31.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.61% of the company’s stock.

NRG Energy Price Performance

Shares of NYSE:NRG opened at $160.85 on Tuesday. The firm has a market cap of $30.82 billion, a price-to-earnings ratio of 24.04 and a beta of 1.26. The firm has a fifty day moving average price of $165.21 and a 200 day moving average price of $160.05. NRG Energy, Inc. has a fifty-two week low of $79.57 and a fifty-two week high of $180.54. The company has a debt-to-equity ratio of 8.45, a quick ratio of 0.99 and a current ratio of 1.05.

NRG Energy (NYSE:NRG) last announced its quarterly earnings results on Thursday, November 6th. The utilities provider reported $2.78 EPS for the quarter, topping the consensus estimate of $1.93 by $0.85. NRG Energy had a net margin of 4.84% and a return on equity of 103.57%. The business had revenue of $7.64 billion for the quarter, compared to analysts’ expectations of $7.53 billion. During the same quarter in the previous year, the company earned $1.90 EPS. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. As a group, sell-side analysts expect that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy declared that its board has authorized a share repurchase plan on Thursday, November 6th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the utilities provider to purchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

NRG Energy Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. UBS Group assumed coverage on NRG Energy in a research report on Tuesday, December 9th. They set a “buy” rating and a $211.00 price objective on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of NRG Energy in a report on Monday, December 22nd. Wells Fargo & Company upgraded shares of NRG Energy to a “strong-buy” rating in a research report on Tuesday, October 28th. Scotiabank initiated coverage on shares of NRG Energy in a research report on Monday, September 22nd. They set a “sector outperform” rating and a $212.00 price objective on the stock. Finally, Zacks Research downgraded shares of NRG Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 13th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, NRG Energy currently has an average rating of “Moderate Buy” and an average target price of $199.21.

About NRG Energy

NRG Energy (NYSE: NRG) is a U.S.-based integrated power company headquartered in Houston, Texas. The company develops, owns and operates a diversified portfolio of power generation assets and participates in wholesale and retail energy markets. NRG supplies electricity to utilities, commercial and industrial customers, and retail consumers, while also providing energy-related products and services designed to manage consumption and support reliability.

NRG’s generation mix includes conventional thermal plants as well as renewable and distributed energy resources.