Cigna Investments Inc. New Acquires New Position in NRG Energy, Inc. $NRG

Cigna Investments Inc. New acquired a new stake in shares of NRG Energy, Inc. (NYSE:NRG) in the second quarter, HoldingsChannel.com reports. The firm acquired 1,956 shares of the utilities provider’s stock, valued at approximately $314,000.

A number of other institutional investors have also recently made changes to their positions in the company. Toth Financial Advisory Corp bought a new position in NRG Energy in the 2nd quarter valued at approximately $27,000. Zions Bancorporation National Association UT bought a new position in shares of NRG Energy during the first quarter valued at $28,000. Key Financial Inc purchased a new stake in shares of NRG Energy during the first quarter valued at $30,000. Evermay Wealth Management LLC bought a new stake in NRG Energy in the 1st quarter worth about $36,000. Finally, Park Square Financial Group LLC purchased a new position in NRG Energy in the 4th quarter worth about $53,000. Hedge funds and other institutional investors own 97.72% of the company’s stock.

NRG Energy Stock Performance

NRG opened at $163.01 on Friday. The firm has a market cap of $31.53 billion, a P/E ratio of 73.76, a PEG ratio of 1.36 and a beta of 1.17. NRG Energy, Inc. has a 1-year low of $79.57 and a 1-year high of $175.96. The company has a 50 day simple moving average of $155.98 and a two-hundred day simple moving average of $137.83. The company has a debt-to-equity ratio of 5.99, a current ratio of 0.93 and a quick ratio of 0.88.

NRG Energy (NYSE:NRG) last issued its earnings results on Wednesday, August 6th. The utilities provider reported $1.68 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.04). The firm had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.63 billion. NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $3.37 EPS. Equities analysts forecast that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, August 1st. NRG Energy’s dividend payout ratio (DPR) is 79.64%.

Insider Buying and Selling

In other NRG Energy news, VP Dak Liyanearachchi sold 10,672 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $155.00, for a total value of $1,654,160.00. Following the completion of the transaction, the vice president directly owned 48,571 shares in the company, valued at $7,528,505. This represents a 18.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on NRG shares. Melius began coverage on shares of NRG Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $308.00 price target for the company. BMO Capital Markets boosted their target price on shares of NRG Energy from $167.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, August 6th. Barclays lifted their price objective on NRG Energy from $197.00 to $203.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Wall Street Zen downgraded NRG Energy from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Raymond James Financial assumed coverage on shares of NRG Energy in a research report on Friday, June 13th. They set a “strong-buy” rating and a $195.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $188.85.

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.