Global Retirement Partners LLC Makes New Investment in NRG Energy, Inc. $NRG

Global Retirement Partners LLC bought a new stake in NRG Energy, Inc. (NYSE:NRG) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,602 shares of the utilities provider’s stock, valued at approximately $418,000.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC lifted its position in NRG Energy by 41.8% in the 4th quarter. Brighton Jones LLC now owns 5,187 shares of the utilities provider’s stock worth $468,000 after buying an additional 1,528 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in shares of NRG Energy by 34.2% in the first quarter. Mutual of America Capital Management LLC now owns 83,826 shares of the utilities provider’s stock worth $8,002,000 after acquiring an additional 21,351 shares during the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of NRG Energy by 47.7% during the first quarter. Avantax Advisory Services Inc. now owns 7,017 shares of the utilities provider’s stock worth $670,000 after acquiring an additional 2,267 shares in the last quarter. LPL Financial LLC boosted its position in NRG Energy by 9.3% during the first quarter. LPL Financial LLC now owns 241,596 shares of the utilities provider’s stock valued at $23,063,000 after purchasing an additional 20,557 shares during the last quarter. Finally, Vestcor Inc grew its stake in NRG Energy by 63.5% in the first quarter. Vestcor Inc now owns 8,524 shares of the utilities provider’s stock valued at $814,000 after purchasing an additional 3,309 shares in the last quarter. 97.72% of the stock is currently owned by institutional investors and hedge funds.

NRG Energy Stock Performance

Shares of NYSE NRG opened at $168.57 on Friday. NRG Energy, Inc. has a 12 month low of $79.57 and a 12 month high of $180.54. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 5.99. The company has a market cap of $32.30 billion, a P/E ratio of 76.28 and a beta of 1.16. The business’s 50 day moving average is $167.22 and its two-hundred day moving average is $159.18.

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

NRG Energy declared that its board has approved a share repurchase program on Thursday, November 6th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the utilities provider to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

NRG Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 3rd were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $1.76 dividend on an annualized basis and a yield of 1.0%. NRG Energy’s dividend payout ratio (DPR) is 26.31%.

Insider Activity at NRG Energy

In related news, VP Virginia Kinney sold 20,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the vice president directly owned 43,191 shares of the company’s stock, valued at $7,075,549.62. This trade represents a 31.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Dak Liyanearachchi sold 10,672 shares of NRG Energy stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $155.00, for a total transaction of $1,654,160.00. Following the sale, the vice president owned 48,571 shares in the company, valued at $7,528,505. This represents a 18.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.86% of the company’s stock.

Analysts Set New Price Targets

NRG has been the subject of several recent research reports. Zacks Research cut NRG Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 13th. Barclays increased their price target on shares of NRG Energy from $197.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Wells Fargo & Company upgraded shares of NRG Energy to a “strong-buy” rating in a report on Tuesday, October 28th. Melius Research started 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, Morgan Stanley reiterated an “underperform” rating on shares of NRG Energy in a research note on Thursday, November 20th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $198.31.

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.