RBA Wealth Management LLC Invests $2.33 Million in NRG Energy, Inc. $NRG

RBA Wealth Management LLC bought a new position in shares of NRG Energy, Inc. (NYSE:NRG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 14,517 shares of the utilities provider’s stock, valued at approximately $2,331,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NRG. Goldman Sachs Group Inc. lifted its holdings in shares of NRG Energy by 468.4% in the first quarter. Goldman Sachs Group Inc. now owns 4,757,735 shares of the utilities provider’s stock valued at $454,173,000 after purchasing an additional 6,049,247 shares in the last quarter. Amundi boosted its holdings in shares of NRG Energy by 772.5% in the first quarter. Amundi now owns 4,378,022 shares of the utilities provider’s stock valued at $406,342,000 after buying an additional 3,876,235 shares during the period. Boston Partners grew its holdings in NRG Energy by 169.5% in the 1st quarter. Boston Partners now owns 2,817,018 shares of the utilities provider’s stock valued at $269,230,000 after buying an additional 1,771,829 shares in the last quarter. Nuveen LLC acquired a new position in shares of NRG Energy in the first quarter valued at approximately $93,075,000. Finally, Alliancebernstein L.P. increased its holdings in shares of NRG Energy by 289.1% during the first quarter. Alliancebernstein L.P. now owns 1,023,168 shares of the utilities provider’s stock valued at $97,672,000 after acquiring an additional 760,201 shares in the last quarter. Institutional investors and hedge funds own 97.72% of the company’s stock.

Wall Street Analyst Weigh In

NRG has been the subject of a number of analyst reports. Barclays raised their price objective on NRG Energy from $197.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. BMO Capital Markets increased their price objective on shares of NRG Energy from $167.00 to $185.00 and gave the company a “market perform” rating in a research report on Wednesday, August 6th. Raymond James Financial initiated coverage on shares of NRG Energy in a report on Friday, June 13th. They issued a “strong-buy” rating and a $195.00 target price for the company. Melius Research assumed coverage on NRG Energy in a report on Wednesday, August 20th. They set a “buy” rating and a $308.00 target price on the stock. Finally, Wall Street Zen lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $188.85.

Insiders Place Their Bets

In related news, VP Dak Liyanearachchi sold 10,672 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $155.00, for a total transaction of $1,654,160.00. Following the completion of the sale, the vice president directly owned 48,571 shares in the company, valued at approximately $7,528,505. This trade represents a 18.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.86% of the company’s stock.

NRG Energy Price Performance

NRG Energy stock opened at $168.66 on Friday. The business has a 50-day simple moving average of $156.31 and a 200 day simple moving average of $138.71. The stock has a market cap of $32.62 billion, a price-to-earnings ratio of 76.32, a PEG ratio of 1.38 and a beta of 1.17. NRG Energy, Inc. has a 52 week low of $79.57 and a 52 week high of $175.96. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 5.99.

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

NRG Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, August 1st. NRG Energy’s dividend payout ratio (DPR) is 79.64%.

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.