L2 Asset Management LLC Acquires New Holdings in NRG Energy, Inc. $NRG

L2 Asset Management LLC bought a new stake in shares of NRG Energy, Inc. (NYSE:NRG) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 12,278 shares of the utilities provider’s stock, valued at approximately $1,988,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Quent Capital LLC purchased a new position in NRG Energy during the third quarter worth about $25,000. Atlantic Union Bankshares Corp increased its stake in shares of NRG Energy by 90.4% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 179 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 85 shares during the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in shares of NRG Energy during the 2nd quarter worth about $35,000. BOKF NA boosted its position in shares of NRG Energy by 3,714.3% in the third quarter. BOKF NA now owns 267 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 260 shares during the last quarter. Finally, Beaird Harris Wealth Management LLC grew its holdings in NRG Energy by 1,970.6% in the third quarter. Beaird Harris Wealth Management LLC now owns 352 shares of the utilities provider’s stock valued at $57,000 after purchasing an additional 335 shares during the period. Hedge funds and other institutional investors own 97.72% of the company’s stock.

NRG Energy Stock Performance

Shares of NRG stock opened at $152.66 on Tuesday. The company has a debt-to-equity ratio of 15.92, a current ratio of 1.64 and a quick ratio of 1.58. The company’s fifty day moving average price is $158.83 and its two-hundred day moving average price is $161.89. The firm has a market capitalization of $32.70 billion, a P/E ratio of 38.75 and a beta of 1.26. NRG Energy, Inc. has a 12 month low of $79.57 and a 12 month high of $189.96.

NRG Energy (NYSE:NRG) last announced its earnings results on Tuesday, February 24th. The utilities provider reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.15). NRG Energy had a net margin of 2.81% and a return on equity of 109.48%. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same quarter in the prior year, the business earned $1.56 earnings per share. The firm’s revenue was up 13.7% on a year-over-year basis. On average, research analysts anticipate that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd were paid a dividend of $0.475 per share. This is an increase from NRG Energy’s previous quarterly dividend of $0.44. The ex-dividend date was Monday, February 2nd. This represents a $1.90 annualized dividend and a dividend yield of 1.2%. NRG Energy’s dividend payout ratio (DPR) is currently 48.22%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on NRG shares. Wells Fargo & Company increased their price target on shares of NRG Energy from $202.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $225.00 target price on shares of NRG Energy in a research report on Monday, February 23rd. The Goldman Sachs Group assumed coverage on NRG Energy in a report on Friday, March 6th. They issued a “buy” rating and a $197.00 target price on the stock. Zacks Research upgraded NRG Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, February 23rd. Finally, UBS Group started coverage on NRG Energy in a report on Tuesday, December 9th. They issued a “buy” rating and a $211.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, NRG Energy presently has a consensus rating of “Moderate Buy” and an average price target of $196.33.

Insider Transactions at NRG Energy

In related news, CFO Bruce Chung sold 12,383 shares of NRG Energy stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $156.56, for a total value of $1,938,682.48. Following the completion of the sale, the chief financial officer owned 79,147 shares in the company, valued at approximately $12,391,254.32. The trade was a 13.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Robert J. Gaudette sold 45,000 shares of the stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $158.76, for a total transaction of $7,144,200.00. Following the transaction, the vice president owned 63,920 shares in the company, valued at $10,147,939.20. This trade represents a 41.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 172,556 shares of company stock valued at $27,550,446. 0.61% of the stock is currently owned by corporate insiders.

NRG Energy Company Profile

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.