Optas LLC Makes New Investment in NRG Energy, Inc. $NRG

Optas LLC acquired a new position in NRG Energy, Inc. (NYSE:NRG) in the 2nd quarter, Holdings Channel reports. The firm acquired 1,314 shares of the utilities provider’s stock, valued at approximately $211,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Toth Financial Advisory Corp purchased a new stake in NRG Energy in the second quarter worth about $27,000. ORG Partners LLC lifted its holdings in shares of NRG Energy by 422.2% during the second 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 last quarter. Zions Bancorporation National Association UT purchased a new position in shares of NRG Energy during the first quarter valued at approximately $28,000. Key Financial Inc purchased a new position in shares of NRG Energy during the first quarter valued at approximately $30,000. Finally, SJS Investment Consulting Inc. lifted its holdings in shares of NRG Energy by 616.3% during the second quarter. SJS Investment Consulting Inc. now owns 351 shares of the utilities provider’s stock valued at $56,000 after purchasing an additional 302 shares during the last quarter. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

NRG Energy Stock Performance

Shares of NRG opened at $160.66 on Friday. The business’s fifty day simple moving average is $157.20 and its two-hundred day simple moving average is $143.03. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 5.99. NRG Energy, Inc. has a 12 month low of $79.57 and a 12 month high of $175.96. The company has a market cap of $31.08 billion, a price-to-earnings ratio of 72.70, a P/E/G ratio of 1.36 and a beta of 1.14.

NRG Energy (NYSE:NRG) last issued its earnings results on Wednesday, August 6th. The utilities provider reported $1.68 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.04). NRG Energy had a net margin of 1.78% and a return on equity of 88.22%. The business had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.63 billion. During the same quarter in the prior year, the business posted $3.37 earnings per share. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. Research analysts anticipate 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. Shareholders of record on Friday, August 1st were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, August 1st. NRG Energy’s payout ratio is 79.64%.

Insider Buying and Selling

In other NRG Energy news, VP Dak Liyanearachchi sold 10,672 shares of NRG Energy 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 completion of the sale, the vice president owned 48,571 shares of the company’s stock, valued at approximately $7,528,505. The trade was a 18.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

NRG has been the subject of several recent research reports. Citigroup lifted their target price on shares of NRG Energy from $133.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Raymond James Financial initiated coverage on shares of NRG Energy in a report on Friday, June 13th. They set a “strong-buy” rating and a $195.00 target price for the company. Scotiabank initiated coverage on shares of NRG Energy in a report on Monday, September 22nd. They set a “sector outperform” rating and a $212.00 target price for the company. Wall Street Zen lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Barclays lifted their target price on shares of NRG Energy from $197.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.