1,956 Shares in NRG Energy, Inc. $NRG Purchased by Cigna Investments Inc. New

Key Points

• Cigna Investments Inc. purchased 1,956 shares of NRG Energy, Inc., valued at approximately $314,000, indicating growing institutional interest in the company.
• Analysts have mixed views on NRG Energy, with Barclays raising their price target to $203 while others downgraded their ratings, resulting in a consensus rating of "Moderate Buy" and an average price target of $188.85.
• NRG Energy recently announced a quarterly dividend of $0.44 per share, reflecting an annualized dividend yield of 1.1% and a dividend payout ratio of 79.64%.

Cigna Investments Inc. New bought a new position in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,956 shares of the utilities provider's stock, valued at approximately $314,000.

Several other hedge funds and other institutional investors also recently modified their holdings of NRG. GW&K Investment Management LLC raised its holdings in NRG Energy by 23.8% during the 1st quarter. GW&K Investment Management LLC now owns 672 shares of the utilities provider's stock valued at $64,000 after acquiring an additional 129 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of NRG Energy by 99.2% in the first quarter. Envestnet Asset Management Inc. now owns 413,911 shares of the utilities provider's stock valued at $39,512,000 after acquiring an additional 206,096 shares during the period. Exchange Traded Concepts LLC grew its stake in NRG Energy by 54.4% during the first quarter. Exchange Traded Concepts LLC now owns 6,215 shares of the utilities provider's stock valued at $593,000 after acquiring an additional 2,190 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of NRG Energy by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 23,728 shares of the utilities provider's stock valued at $2,265,000 after purchasing an additional 630 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in NRG Energy by 28.4% during the first quarter. Janney Montgomery Scott LLC now owns 16,815 shares of the utilities provider's stock valued at $1,605,000 after buying an additional 3,721 shares during the period. Institutional investors own 97.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NRG. Barclays lifted their target price on shares of NRG Energy from $197.00 to $203.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Wall Street Zen downgraded NRG Energy from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Citigroup boosted their price objective on shares of NRG Energy from $133.00 to $185.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Raymond James Financial assumed coverage on shares of NRG Energy in a research report on Friday, June 13th. They issued a "strong-buy" rating and a $195.00 target price on the stock. Finally, Melius started coverage on NRG Energy in a research note on Wednesday, August 20th. They issued a "buy" rating and a $308.00 price target on the stock. 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $188.85.

Insider Activity

In other news, VP Dak Liyanearachchi sold 10,672 shares of the business's stock in a transaction that occurred 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 sale, the vice president directly owned 48,571 shares of the company's stock, valued at $7,528,505. The trade was a 18.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.86% of the company's stock.

NRG Energy Trading Down 1.6%

NRG opened at $163.01 on Friday. The stock has a market cap of $31.53 billion, a PE ratio of 73.76, a PEG ratio of 1.36 and a beta of 1.17. The business has a 50 day moving average of $155.98 and a 200-day moving average of $137.83. NRG Energy, Inc. has a 52 week low of $79.57 and a 52 week high of $175.96. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 5.99.

NRG Energy (NYSE:NRG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $1.68 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.04). The firm had revenue of $6.74 billion for the quarter, compared to analysts' expectations of $6.63 billion. NRG Energy had a net margin of 1.78% and a return on equity of 88.22%. The business's quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $3.37 EPS. Equities research analysts predict that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.1%. NRG Energy's dividend payout ratio (DPR) is currently 79.64%.

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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