Texas Permanent School Fund Corp Has $6.15 Million Stake in NRG Energy, Inc. $NRG

Texas Permanent School Fund Corp boosted its holdings in shares of NRG Energy, Inc. (NYSE:NRG) by 76.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,277 shares of the utilities provider’s stock after buying an additional 16,559 shares during the period. Texas Permanent School Fund Corp’s holdings in NRG Energy were worth $6,147,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Aviva PLC raised its holdings in shares of NRG Energy by 9.7% in the 2nd quarter. Aviva PLC now owns 155,392 shares of the utilities provider’s stock worth $24,953,000 after buying an additional 13,757 shares in the last quarter. American Century Companies Inc. boosted its position in NRG Energy by 68.2% in the second quarter. American Century Companies Inc. now owns 251,366 shares of the utilities provider’s stock valued at $40,364,000 after buying an additional 101,922 shares in the last quarter. Global Retirement Partners LLC bought a new position in shares of NRG Energy in the second quarter valued at approximately $418,000. Trek Financial LLC acquired a new position in shares of NRG Energy in the 2nd quarter worth approximately $3,368,000. Finally, Morningstar Investment Management LLC acquired a new stake in NRG Energy during the 2nd quarter valued at $244,000. 97.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NRG shares. BMO Capital Markets boosted their price objective on NRG Energy from $185.00 to $195.00 and gave the stock a “market perform” rating in a research note on Friday, November 7th. 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 target on the stock. UBS Group started coverage on shares of NRG Energy in a research report on Tuesday, December 9th. They issued a “buy” rating and a $211.00 price objective for the company. Jefferies Financial Group restated a “buy” rating and issued a $198.00 price objective on shares of NRG Energy in a research report on Monday, October 20th. Finally, Morgan Stanley restated an “underperform” rating on shares of NRG Energy in a research report on Thursday, November 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.21.

Insider Buying and Selling

In other NRG Energy news, VP Virginia Kinney sold 20,000 shares of the stock in a transaction 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 sale, the vice president directly owned 43,191 shares in the company, valued at approximately $7,075,549.62. This trade represents a 31.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.

NRG Energy Stock Performance

Shares of NRG Energy stock opened at $160.16 on Wednesday. NRG Energy, Inc. has a 52 week low of $79.57 and a 52 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. The stock has a market capitalization of $30.69 billion, a price-to-earnings ratio of 23.94 and a beta of 1.26. The firm has a fifty day moving average of $167.10 and a two-hundred day moving average of $159.89.

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

NRG Energy Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 1.1%. NRG Energy’s dividend payout ratio (DPR) is presently 26.31%.

NRG Energy announced that its board has approved a share buyback plan on Thursday, November 6th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the utilities provider to buy up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.