Flputnam Investment Management Co. Has $5.04 Million Position in NRG Energy, Inc. $NRG

Flputnam Investment Management Co. boosted its holdings in shares of NRG Energy, Inc. (NYSE:NRG) by 1,131.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 31,109 shares of the utilities provider’s stock after acquiring an additional 28,582 shares during the period. Flputnam Investment Management Co.’s holdings in NRG Energy were worth $5,038,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. Toth Financial Advisory Corp acquired a new stake in shares of NRG Energy during the second quarter worth $27,000. Bank of Jackson Hole Trust bought a new position in NRG Energy during the second quarter worth about $28,000. Fourth Dimension Wealth LLC acquired a new position in shares of NRG Energy during the 2nd quarter worth about $32,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of NRG Energy in the 2nd quarter valued at about $35,000. Finally, Kiker Wealth Management LLC acquired a new stake in shares of NRG Energy in the 2nd quarter valued at approximately $37,000. Institutional investors and hedge funds own 97.72% of the company’s stock.

Insider Transactions at NRG Energy

In other NRG Energy news, VP Virginia Kinney sold 20,000 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $163.82, for a total transaction 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 filing with the SEC, which is available through this link. Insiders own 0.61% of the company’s stock.

NRG Energy Stock Up 1.0%

NRG stock opened at $156.12 on Monday. The company has a debt-to-equity ratio of 8.45, a current ratio of 1.05 and a quick ratio of 0.99. The stock has a market capitalization of $29.92 billion, a P/E ratio of 23.34 and a beta of 1.26. NRG Energy, Inc. has a fifty-two week low of $79.57 and a fifty-two week high of $180.54. The business has a 50-day moving average of $166.38 and a 200-day moving average of $159.78.

NRG Energy (NYSE:NRG) last released its quarterly earnings results on Thursday, November 6th. The utilities provider reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.85. The firm 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%.The business’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.90 EPS. On average, sell-side analysts anticipate 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 approved 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 purchase up to 9.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

NRG Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 3rd were given a $0.44 dividend. 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 1.1%. NRG Energy’s dividend payout ratio (DPR) is 26.31%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NRG. BMO Capital Markets boosted their price objective on shares of NRG Energy from $185.00 to $195.00 and gave the company a “market perform” rating in a report on Friday, November 7th. Scotiabank assumed coverage on shares of NRG Energy in a report on Monday, September 22nd. They issued a “sector outperform” rating and a $212.00 price target for the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $198.00 price objective on shares of NRG Energy in a research note on Monday, October 20th. Wells Fargo & Company upgraded NRG Energy to a “strong-buy” rating in a report on Tuesday, October 28th. Finally, Zacks Research downgraded NRG Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 13th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $199.21.

About NRG Energy

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.