29,076 Shares in NRG Energy, Inc. $NRG Purchased by Kornitzer Capital Management Inc. KS

Key Points

• Kornitzer Capital Management bought a new position of 29,076 shares of NRG (~$4.63 million) in the fourth quarter.
• NRG's latest quarter showed an EPS miss of $1.04 vs. $1.19 expected, while revenue beat at $7.75 billion (up 13.7% year-over-year).
• The company declared a quarterly dividend of $0.475 ($1.90 annualized) with an ex-dividend date of May 1 and a payable date of May 15, implying a ~1.2% yield.

Kornitzer Capital Management Inc. KS bought a new position in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 29,076 shares of the utilities provider's stock, valued at approximately $4,630,000.

Other institutional investors have also recently made changes to their positions in the company. Quent Capital LLC purchased a new stake in shares of NRG Energy during the third quarter worth about $25,000. Atlantic Union Bankshares Corp grew its position in shares of NRG Energy by 90.4% during the third quarter. Atlantic Union Bankshares Corp now owns 179 shares of the utilities provider's stock worth $29,000 after purchasing an additional 85 shares in the last quarter. BOKF NA grew its position in shares of NRG Energy by 3,714.3% during the third quarter. BOKF NA now owns 267 shares of the utilities provider's stock worth $43,000 after purchasing an additional 260 shares in the last quarter. Beaird Harris Wealth Management LLC grew its position in shares of NRG Energy by 1,970.6% during the third quarter. Beaird Harris Wealth Management LLC now owns 352 shares of the utilities provider's stock worth $57,000 after purchasing an additional 335 shares in the last quarter. Finally, First Horizon Corp purchased a new stake in shares of NRG Energy during the third quarter worth about $67,000. Hedge funds and other institutional investors own 97.72% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Weiss Ratings cut NRG Energy from a "buy (b)" rating to a "hold (c+)" rating in a research report on Thursday, February 26th. BNP Paribas Exane assumed coverage on NRG Energy in a research report on Wednesday, March 18th. They set an "outperform" rating and a $232.00 target price for the company. Wells Fargo & Company increased their target price on NRG Energy from $202.00 to $206.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 20th. Jefferies Financial Group dropped their price target on NRG Energy from $198.00 to $181.00 and set a "buy" rating for the company in a research note on Tuesday, January 27th. Finally, Wolfe Research raised NRG Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 price objective on the stock in a research note on Wednesday, March 18th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, NRG Energy presently has an average rating of "Moderate Buy" and a consensus price target of $197.57.

Insider Activity

In other news, VP Virginia Kinney sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $156.65, for a total value of $783,250.00. Following the completion of the sale, the vice president directly owned 55,495 shares of the company's stock, valued at $8,693,291.75. This trade represents a 8.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.43% of the stock is owned by insiders.

NRG Energy Stock Performance

Shares of NYSE:NRG opened at $153.24 on Friday. The firm has a fifty day simple moving average of $159.13 and a two-hundred day simple moving average of $160.77. NRG Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $189.96. The company has a quick ratio of 1.58, a current ratio of 1.64 and a debt-to-equity ratio of 15.92. The stock has a market capitalization of $32.88 billion, a P/E ratio of 38.89 and a beta of 1.32.

NRG Energy (NYSE:NRG - Get Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The utilities provider reported $1.04 EPS for the quarter, missing analysts' consensus estimates of $1.19 by ($0.15). The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $6.68 billion. NRG Energy had a net margin of 2.81% and a return on equity of 109.48%. The firm's revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.56 EPS. On average, analysts expect that NRG Energy, Inc. will post 8.98 earnings per share for the current fiscal year.

NRG Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be paid a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, May 1st. NRG Energy's dividend payout ratio (DPR) is presently 48.22%.

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.

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