7,212 Shares in NRG Energy, Inc. $NRG Acquired by Allstate Corp

Allstate Corp acquired a new stake in NRG Energy, Inc. (NYSE:NRG) during the third quarter, according to its most recent filing with the SEC. The firm acquired 7,212 shares of the utilities provider’s stock, valued at approximately $1,168,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in NRG. Daymark Wealth Partners LLC increased its position in NRG Energy by 2.2% in the second quarter. Daymark Wealth Partners LLC now owns 2,944 shares of the utilities provider’s stock worth $473,000 after purchasing an additional 64 shares during the period. Donald L. Hagan LLC boosted its stake in shares of NRG Energy by 2.0% in the 2nd quarter. Donald L. Hagan LLC now owns 3,384 shares of the utilities provider’s stock valued at $543,000 after purchasing an additional 66 shares during the last quarter. Golden State Equity Partners boosted its stake in shares of NRG Energy by 4.7% in the 3rd quarter. Golden State Equity Partners now owns 1,589 shares of the utilities provider’s stock valued at $257,000 after purchasing an additional 72 shares during the last quarter. Optivise Advisory Services LLC grew its position in shares of NRG Energy by 5.1% during the 3rd quarter. Optivise Advisory Services LLC now owns 1,670 shares of the utilities provider’s stock worth $270,000 after buying an additional 81 shares during the period. Finally, Parkside Financial Bank & Trust raised its stake in shares of NRG Energy by 6.2% during the second quarter. Parkside Financial Bank & Trust now owns 1,437 shares of the utilities provider’s stock worth $231,000 after buying an additional 84 shares during the last quarter. Institutional investors own 97.72% of the company’s stock.

Insider Transactions at NRG Energy

In other news, VP Brian Curci sold 46,976 shares of the business’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $158.84, for a total value of $7,461,667.84. Following the sale, the vice president directly owned 46,113 shares in the company, valued at $7,324,588.92. The trade was a 50.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Bruce Chung sold 12,383 shares of the company’s stock in a transaction dated 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. This represents a 13.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 192,556 shares of company stock worth $30,826,846. Company insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on NRG shares. Wells Fargo & Company lifted their target price on shares of NRG Energy from $202.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday. Zacks Research lowered NRG Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 13th. BMO Capital Markets upped their price objective on NRG Energy from $185.00 to $195.00 and gave the company a “market perform” rating in a report on Friday, November 7th. Jefferies Financial Group reissued a “buy” rating and issued a $198.00 target price on shares of NRG Energy in a research note on Monday, October 20th. Finally, UBS Group initiated coverage on NRG Energy in a research report on Tuesday, December 9th. They set a “buy” rating and a $211.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $186.45.

NRG Energy Stock Performance

Shares of NRG opened at $150.66 on Thursday. The firm has a market cap of $28.87 billion, a P/E ratio of 22.52 and a beta of 1.25. NRG Energy, Inc. has a twelve month low of $79.57 and a twelve month high of $180.54. The company has a debt-to-equity ratio of 8.45, a quick ratio of 0.99 and a current ratio of 1.05. The firm’s 50 day moving average price is $159.99 and its two-hundred day moving average price is $159.85.

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

NRG Energy declared that its Board of Directors has approved a stock buyback program on Thursday, November 6th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the utilities provider to reacquire up to 9.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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.