1,549 Shares in NRG Energy, Inc. $NRG Bought by Covenant Asset Management LLC

Key Points

• Covenant Asset Management LLC acquired 1,549 shares of NRG Energy, valued at approximately $249,000, as part of its new position in the company during the second quarter.
• Insider VP Dak Liyanearachchi sold 10,672 shares at an average price of $155.00, reducing their ownership by 18.01% to a total of 48,571 shares.
• NRG Energy also declared a quarterly dividend of $0.44 per share, representing an annualized dividend yield of 1.0%.

Covenant Asset Management LLC acquired a new position in NRG Energy, Inc. (NYSE:NRG - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,549 shares of the utilities provider's stock, valued at approximately $249,000.

A number of other institutional investors and hedge funds also recently modified their holdings of NRG. GC Wealth Management RIA LLC acquired a new position in shares of NRG Energy in the 2nd quarter valued at about $255,000. Sound Income Strategies LLC lifted its holdings in NRG Energy by 511.1% in the second quarter. Sound Income Strategies LLC now owns 495 shares of the utilities provider's stock worth $79,000 after acquiring an additional 414 shares during the last quarter. Forefront Wealth Management Inc. acquired a new position in NRG Energy in the second quarter valued at approximately $244,000. Moody Lynn & Lieberson LLC bought a new position in shares of NRG Energy during the second quarter valued at approximately $323,000. Finally, RBA Wealth Management LLC acquired a new stake in shares of NRG Energy during the 2nd quarter worth approximately $2,331,000. 97.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NRG Energy

In other news, VP Dak Liyanearachchi sold 10,672 shares of the company's stock in a transaction on Wednesday, September 10th. The stock was 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 in the company, valued at $7,528,505. This represents a 18.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.61% of the company's stock.

NRG Energy Stock Up 3.5%

NRG Energy stock opened at $168.66 on Monday. NRG Energy, Inc. has a 52 week low of $79.57 and a 52 week high of $175.96. The stock has a market cap of $32.62 billion, a price-to-earnings ratio of 76.32, a PEG ratio of 1.37 and a beta of 1.17. The company's 50-day moving average price is $156.31 and its two-hundred day moving average price is $139.04. 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 (NYSE:NRG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $1.68 earnings per share (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 company had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.63 billion. During the same quarter last year, the business earned $3.37 earnings per share. The company's revenue was up 1.2% on a year-over-year basis. On average, analysts expect that NRG Energy, Inc. will post 6.36 EPS for the current fiscal year.

NRG Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were given a dividend of $0.44 per share. The ex-dividend date was Friday, August 1st. This represents a $1.76 annualized dividend and a dividend yield of 1.0%. NRG Energy's dividend payout ratio (DPR) is 79.64%.

Analysts Set New Price Targets

A number of research firms recently issued reports on NRG. BMO Capital Markets boosted their price objective on NRG Energy from $167.00 to $185.00 and gave the company a "market perform" rating in a research report on Wednesday, August 6th. Citigroup raised their target price on NRG Energy from $133.00 to $185.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Barclays upped their price target on shares of NRG Energy from $197.00 to $203.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Raymond James Financial initiated coverage on shares of NRG Energy in a report on Friday, June 13th. They issued a "strong-buy" rating and a $195.00 price objective on the stock. Finally, Melius Research assumed coverage on shares of NRG Energy in a research note on Wednesday, August 20th. They set a "buy" rating and a $308.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, NRG Energy presently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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