Scalar Gauge Management LLC Invests $2.92 Million in NRG Energy, Inc. $NRG

Scalar Gauge Management LLC acquired a new position in NRG Energy, Inc. (NYSE:NRG) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 18,000 shares of the utilities provider’s stock, valued at approximately $2,915,000. NRG Energy accounts for approximately 1.5% of Scalar Gauge Management LLC’s investment portfolio, making the stock its 21st biggest position.

Several other hedge funds also recently modified their holdings of NRG. Aviva PLC increased its holdings in NRG Energy by 9.7% in the second quarter. Aviva PLC now owns 155,392 shares of the utilities provider’s stock valued at $24,953,000 after purchasing an additional 13,757 shares during the last quarter. American Century Companies Inc. grew its holdings in NRG Energy by 68.2% during the second quarter. American Century Companies Inc. now owns 251,366 shares of the utilities provider’s stock valued at $40,364,000 after purchasing an additional 101,922 shares during the period. Global Retirement Partners LLC bought a new stake in NRG Energy in the second quarter valued at approximately $418,000. Trek Financial LLC bought a new position in shares of NRG Energy during the second quarter worth $3,368,000. Finally, Ferguson Wellman Capital Management Inc. acquired a new position in shares of NRG Energy in the 3rd quarter valued at $25,268,000. Institutional investors own 97.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NRG. BMO Capital Markets boosted their target price on NRG Energy from $185.00 to $195.00 and gave the company a “market perform” rating in a research note on Friday, November 7th. Zacks Research lowered NRG Energy from a “hold” rating to a “strong sell” rating in a research report on Friday. Morgan Stanley reaffirmed an “underperform” rating on shares of NRG Energy in a research note on Thursday, November 20th. Weiss Ratings reissued a “buy (b)” rating on shares of NRG Energy in a research report on Monday, December 29th. Finally, Jefferies Financial Group restated a “buy” rating and set a $198.00 price objective on shares of NRG Energy in a report on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $186.45.

NRG Energy Price Performance

NYSE:NRG opened at $149.97 on Tuesday. The stock has a market capitalization of $28.74 billion, a PE ratio of 22.42 and a beta of 1.25. NRG Energy, Inc. has a 1-year low of $79.57 and a 1-year high of $180.54. The firm has a fifty day simple moving average of $159.10 and a 200 day simple moving average of $159.84. The company has a current ratio of 1.05, a quick ratio of 0.99 and a debt-to-equity ratio of 8.45.

NRG Energy (NYSE:NRG) last issued its earnings results on Thursday, November 6th. The utilities provider reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.85. The business had revenue of $7.64 billion during the quarter, compared to the consensus estimate of $7.53 billion. NRG Energy had a net margin of 4.84% and a return on equity of 103.57%. NRG Energy’s revenue was up 5.7% on a year-over-year basis. During the same period last year, the business posted $1.90 EPS. On average, research analysts expect that NRG Energy, Inc. will post 6.36 EPS for the current fiscal year.

NRG Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd will be given a $0.475 dividend. The ex-dividend date of this dividend is Monday, February 2nd. This is a positive change from NRG Energy’s previous quarterly dividend of $0.44. This represents a $1.90 annualized dividend and a dividend yield of 1.3%. NRG Energy’s dividend payout ratio (DPR) is currently 26.31%.

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

Insider Transactions at NRG Energy

In other NRG Energy news, VP Virginia Kinney sold 20,000 shares of the company’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $163.82, for a total value of $3,276,400.00. Following the transaction, the vice president directly owned 43,191 shares of the company’s stock, valued at $7,075,549.62. This represents a 31.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Brian Curci sold 46,976 shares of the business’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $158.84, for a total transaction of $7,461,667.84. Following the completion of the sale, the vice president directly owned 46,113 shares of the company’s stock, valued at approximately $7,324,588.92. The trade was a 50.46% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 192,556 shares of company stock valued at $30,826,846. 0.61% of the stock is currently owned by company insiders.

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.