Hollencrest Capital Management Raises Position in NRG Energy, Inc. $NRG

Hollencrest Capital Management boosted its holdings in shares of NRG Energy, Inc. (NYSE:NRG) by 301.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,362 shares of the utilities provider’s stock after buying an additional 3,275 shares during the period. Hollencrest Capital Management’s holdings in NRG Energy were worth $706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NRG. Aviva PLC grew its position in shares of NRG Energy by 9.7% in the second quarter. Aviva PLC now owns 155,392 shares of the utilities provider’s stock valued at $24,953,000 after purchasing an additional 13,757 shares in the last quarter. American Century Companies Inc. boosted its stake in NRG Energy by 68.2% during the second quarter. American Century Companies Inc. now owns 251,366 shares of the utilities provider’s stock worth $40,364,000 after buying an additional 101,922 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in shares of NRG Energy in the 2nd quarter worth $418,000. Trek Financial LLC purchased a new position in shares of NRG Energy during the 2nd quarter worth $3,368,000. Finally, Ferguson Wellman Capital Management Inc. purchased a new position in shares of NRG Energy during the 3rd quarter worth $25,268,000. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at NRG Energy

In other NRG Energy news, VP Robert J. Gaudette sold 45,000 shares of the business’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $158.76, for a total value of $7,144,200.00. Following the completion of the transaction, the vice president owned 63,920 shares in the company, valued at $10,147,939.20. The trade was a 41.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Bruce Chung sold 12,383 shares of the business’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $156.56, for a total value of $1,938,682.48. Following the transaction, the chief financial officer directly owned 79,147 shares of the company’s stock, valued at $12,391,254.32. The trade was a 13.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 192,556 shares of company stock worth $30,826,846. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NRG shares. Wells Fargo & Company raised their price objective on shares of NRG Energy from $202.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of NRG Energy in a research report on Monday, December 29th. UBS Group initiated coverage on NRG Energy in a report on Tuesday, December 9th. They issued a “buy” rating and a $211.00 price objective on the stock. Zacks Research cut NRG Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Finally, Jefferies Financial Group decreased their price target on NRG Energy from $198.00 to $181.00 and set a “buy” rating on the stock in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $184.91.

NRG Energy Trading Down 0.5%

Shares of NYSE NRG opened at $155.20 on Thursday. The stock has a fifty day simple moving average of $158.62 and a 200-day simple moving average of $159.84. NRG Energy, Inc. has a twelve month low of $79.57 and a twelve month high of $180.54. The company has a current ratio of 1.05, a quick ratio of 0.99 and a debt-to-equity ratio of 8.45. The stock has a market capitalization of $29.74 billion, a PE ratio of 23.20 and a beta of 1.25.

NRG Energy (NYSE:NRG) last released its earnings results on Thursday, November 6th. The utilities provider reported $2.78 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.85. The company had revenue of $7.64 billion during the quarter, compared to the consensus estimate of $7.53 billion. NRG Energy had a return on equity of 103.57% and a net margin of 4.84%.NRG Energy’s revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.90 EPS. On average, equities analysts forecast that NRG Energy, Inc. will post 6.36 earnings per share for the current year.

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

NRG Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd will be issued a dividend of $0.475 per share. This is a boost from NRG Energy’s previous quarterly dividend of $0.44. The ex-dividend date is Monday, February 2nd. This represents a $1.90 dividend on an annualized basis and a yield of 1.2%. NRG Energy’s dividend payout ratio (DPR) is currently 26.31%.

NRG Energy Profile

NRG Energy (NYSE: NRG) is a U.S.-based integrated power company headquartered in Houston, Texas. The company develops, owns and operates a diversified portfolio of power generation assets and participates in wholesale and retail energy markets. NRG supplies electricity to utilities, commercial and industrial customers, and retail consumers, while also providing energy-related products and services designed to manage consumption and support reliability.

NRG’s generation mix includes conventional thermal plants as well as renewable and distributed energy resources.