CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Purchases 74,000 Shares of NRG Energy, Inc. $NRG

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in shares of NRG Energy, Inc. (NYSE:NRG) by 94.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 152,000 shares of the utilities provider’s stock after acquiring an additional 74,000 shares during the quarter. NRG Energy accounts for approximately 1.4% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s investment portfolio, making the stock its 23rd biggest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned approximately 0.08% of NRG Energy worth $24,616,000 at the end of the most recent reporting period.

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

NRG Energy Price Performance

Shares of NRG Energy stock opened at $160.36 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.05 and a debt-to-equity ratio of 8.45. The stock has a market capitalization of $30.73 billion, a price-to-earnings ratio of 23.97 and a beta of 1.26. NRG Energy, Inc. has a twelve month low of $79.57 and a twelve month high of $180.54. The company has a 50-day simple moving average of $165.15 and a two-hundred day simple moving average of $160.11.

NRG Energy (NYSE:NRG) last announced its earnings results on Thursday, November 6th. The utilities provider reported $2.78 EPS for the quarter, topping the consensus estimate of $1.93 by $0.85. The company had revenue of $7.64 billion for the quarter, compared to analysts’ expectations of $7.53 billion. NRG Energy had a net margin of 4.84% and a return on equity of 103.57%. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period last year, the firm earned $1.90 earnings per share. Analysts forecast that NRG Energy, Inc. will post 6.36 EPS for the current year.

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

NRG Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, November 3rd were issued a $0.44 dividend. 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 currently 26.31%.

Insider Buying and Selling at NRG Energy

In other news, VP Virginia Kinney sold 20,000 shares of the stock in a transaction on Friday, November 14th. The stock was 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 approximately $7,075,549.62. This represents a 31.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NRG shares. BMO Capital Markets lifted their price objective on shares of NRG Energy from $185.00 to $195.00 and gave the stock a “market perform” rating in a research report on Friday, November 7th. Scotiabank began coverage on shares of NRG Energy in a research note on Monday, September 22nd. They set a “sector outperform” rating and a $212.00 target price for the company. Jefferies Financial Group reiterated a “buy” rating and issued a $198.00 price target on shares of NRG Energy in a research note on Monday, October 20th. Morgan Stanley reissued an “underperform” rating on shares of NRG Energy in a report on Thursday, November 20th. Finally, Zacks Research cut 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 given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $199.21.

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.