Nemes Rush Group LLC Increases Stake in NRG Energy, Inc. $NRG

Nemes Rush Group LLC increased its holdings in NRG Energy, Inc. (NYSE:NRG) by 23,467.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,905 shares of the utilities provider’s stock after purchasing an additional 13,846 shares during the quarter. Nemes Rush Group LLC’s holdings in NRG Energy were worth $2,233,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in NRG. Geode Capital Management LLC increased its holdings in shares of NRG Energy by 0.7% in the second quarter. Geode Capital Management LLC now owns 5,411,045 shares of the utilities provider’s stock worth $865,437,000 after buying an additional 39,253 shares during the period. Goldman Sachs Group Inc. increased its stake in NRG Energy by 468.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,757,735 shares of the utilities provider’s stock worth $454,173,000 after purchasing an additional 6,049,247 shares during the period. Amundi lifted its position in 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 purchasing an additional 3,876,235 shares during the last quarter. Boston Partners boosted its stake in shares of NRG Energy by 169.5% during the first quarter. Boston Partners now owns 2,817,018 shares of the utilities provider’s stock valued at $269,230,000 after purchasing an additional 1,771,829 shares during the period. Finally, Appaloosa LP grew its holdings in shares of NRG Energy by 12.9% in the first quarter. Appaloosa LP now owns 2,050,000 shares of the utilities provider’s stock worth $195,693,000 after purchasing an additional 235,000 shares during the last quarter. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NRG Energy

In other news, VP Virginia Kinney sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was 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 of the company’s stock, valued at $7,075,549.62. The trade was a 31.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Dak Liyanearachchi sold 10,672 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president directly owned 48,571 shares of the company’s stock, valued at approximately $7,528,505. This trade represents a 18.01% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.86% of the stock is currently owned by corporate insiders.

NRG Energy Stock Performance

NRG Energy stock opened at $159.21 on Friday. NRG Energy, Inc. has a fifty-two week low of $79.57 and a fifty-two week high of $180.54. The stock’s 50 day simple moving average is $166.95 and its two-hundred day simple moving average is $157.98. The company has a debt-to-equity ratio of 5.99, a quick ratio of 0.88 and a current ratio of 0.93. The stock has a market cap of $30.51 billion, a price-to-earnings ratio of 72.04 and a beta of 1.16.

NRG Energy (NYSE:NRG) last released its earnings results on Thursday, November 6th. The utilities provider reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.85. The company had revenue of $7.64 billion during the quarter, compared to analysts’ expectations of $7.53 billion. NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.90 EPS. As a group, analysts expect that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy declared that its Board of Directors has authorized a stock repurchase plan on Thursday, November 6th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the utilities provider to repurchase up to 9.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

NRG Energy Dividend Announcement

The firm 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 payout ratio is presently 26.31%.

Wall Street Analysts Forecast Growth

NRG has been the subject of a number of recent analyst reports. Zacks Research lowered shares of NRG Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 13th. Scotiabank started coverage on shares of NRG Energy in a research note on Monday, September 22nd. They set a “sector outperform” rating and a $212.00 price objective for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of NRG Energy in a report on Wednesday. Jefferies Financial Group reaffirmed a “buy” rating and set a $198.00 price target on shares of NRG Energy in a research report on Monday, October 20th. Finally, Morgan Stanley reiterated an “underperform” rating on shares of NRG Energy in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $198.31.

NRG Energy Company 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.