Hedeker Wealth LLC Trims Position in NRG Energy, Inc. $NRG

Hedeker Wealth LLC decreased its holdings in NRG Energy, Inc. (NYSE:NRG) by 2.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,829 shares of the utilities provider’s stock after selling 1,440 shares during the quarter. NRG Energy comprises approximately 2.3% of Hedeker Wealth LLC’s portfolio, making the stock its 11th biggest position. Hedeker Wealth LLC’s holdings in NRG Energy were worth $9,768,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in NRG. Toth Financial Advisory Corp bought a new stake in shares of NRG Energy during the 2nd quarter valued at about $27,000. Bank of Jackson Hole Trust purchased a new stake in NRG Energy in the second quarter worth about $28,000. Fourth Dimension Wealth LLC purchased a new position in shares of NRG Energy during the 2nd quarter worth approximately $32,000. Kiker Wealth Management LLC bought a new position in shares of NRG Energy in the 2nd quarter worth approximately $37,000. Finally, ORG Partners LLC lifted its stake in shares of NRG Energy by 422.2% in the 2nd quarter. ORG Partners LLC now owns 282 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 228 shares during the period. 97.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. BMO Capital Markets upped their price target 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. Melius started coverage on shares of NRG Energy in a report on Wednesday, August 20th. They issued a “buy” rating and a $308.00 price objective on the stock. Scotiabank began coverage on NRG Energy in a research report on Monday, September 22nd. They issued a “sector outperform” rating and a $212.00 price target on the stock. Wall Street Zen lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $198.00 price target on shares of NRG Energy in a research report on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, NRG Energy presently has an average rating of “Moderate Buy” and a consensus price target of $198.31.

Insiders Place Their Bets

In other news, VP Dak Liyanearachchi sold 10,672 shares of the company’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $155.00, for a total value of $1,654,160.00. Following the sale, the vice president directly owned 48,571 shares of the company’s stock, valued at $7,528,505. This represents a 18.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.86% of the company’s stock.

NRG Energy Price Performance

NRG opened at $165.07 on Friday. The business’s fifty day simple moving average is $166.26 and its 200-day simple moving average is $156.27. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 5.99. The company has a market capitalization of $31.63 billion, a price-to-earnings ratio of 74.69 and a beta of 1.16. NRG Energy, Inc. has a 12-month low of $79.57 and a 12-month high of $180.54.

NRG Energy (NYSE:NRG) last posted its quarterly earnings data on Thursday, November 6th. The utilities provider reported $2.78 EPS for the quarter, topping the consensus estimate of $1.93 by $0.85. NRG Energy had a net margin of 1.78% and a return on equity of 88.22%. The firm had revenue of $7.64 billion during the quarter, compared to analyst estimates of $7.53 billion. During the same quarter in the previous year, the business posted $1.90 EPS. NRG Energy’s revenue was up 5.7% on a year-over-year basis. On average, equities research analysts anticipate that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 3rd will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, November 3rd. NRG Energy’s dividend payout ratio (DPR) is presently 26.31%.

NRG Energy declared that its board has authorized a share repurchase 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 shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

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.