Aaron Wealth Advisors LLC Acquires New Stake in NRG Energy, Inc. $NRG

Key Points

• Aaron Wealth Advisors LLC invested $413,000 in NRG Energy, acquiring 2,569 shares during the second quarter of 2023.
• Insider transactions revealed VP Dak Liyanearachchi sold 10,672 shares at $155 each, representing an 18.01% decrease in their holdings.
• Analysts have revised price targets for NRG Energy, with Citigroup raising its target from $133 to $185, and Melius Research setting a target as high as $308.

Aaron Wealth Advisors LLC purchased a new position in NRG Energy, Inc. (NYSE:NRG - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,569 shares of the utilities provider's stock, valued at approximately $413,000.

A number of other large investors have also added to or reduced their stakes in the company. Zions Bancorporation National Association UT purchased a new position in NRG Energy in the first quarter worth about $28,000. Key Financial Inc bought a new position in shares of NRG Energy in the first quarter worth approximately $30,000. Evermay Wealth Management LLC bought a new position in shares of NRG Energy during the first quarter worth $36,000. Park Square Financial Group LLC purchased a new stake in NRG Energy during the fourth quarter valued at $53,000. Finally, UMB Bank n.a. raised its stake in NRG Energy by 44.0% during the first quarter. UMB Bank n.a. now owns 655 shares of the utilities provider's stock valued at $63,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 97.72% of the company's stock.

Insider Buying and Selling at NRG Energy

In other news, VP Dak Liyanearachchi sold 10,672 shares of the 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 completion of the sale, the vice president directly owned 48,571 shares of the company's stock, valued at approximately $7,528,505. This represents a 18.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.86% of the company's stock.

NRG Energy Trading Down 0.2%

Shares of NRG stock traded down $0.32 on Friday, hitting $163.87. 4,195,804 shares of the stock traded hands, compared to its average volume of 2,007,153. The firm's 50-day moving average price is $154.44 and its two-hundred day moving average price is $135.73. The company has a debt-to-equity ratio of 5.99, a quick ratio of 0.88 and a current ratio of 0.93. The stock has a market capitalization of $31.70 billion, a PE ratio of 74.15, a PEG ratio of 1.34 and a beta of 1.17. NRG Energy, Inc. has a twelve month low of $79.57 and a twelve month high of $175.96.

NRG Energy (NYSE:NRG - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.72 by ($0.04). NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.The business had revenue of $6.74 billion for the quarter, compared to analysts' expectations of $6.63 billion. During the same quarter last year, the company earned $3.37 earnings per share. The firm's revenue for the quarter was up 1.2% on a year-over-year basis. As a group, analysts anticipate that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 1st. NRG Energy's dividend payout ratio is presently 79.64%.

Wall Street Analysts Forecast Growth

NRG has been the topic of several recent analyst reports. Raymond James Financial initiated coverage on shares of NRG Energy in a research note on Friday, June 13th. They issued a "strong-buy" rating and a $195.00 target price on the stock. Barclays raised their price target on shares of NRG Energy from $197.00 to $203.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. BMO Capital Markets raised their price target on shares of NRG Energy from $167.00 to $185.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 6th. Melius Research began coverage on shares of NRG Energy in a research note on Wednesday, August 20th. They issued a "buy" rating and a $308.00 price target on the stock. Finally, Citigroup raised their price target on shares of NRG Energy from $133.00 to $185.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, NRG Energy has a consensus rating of "Moderate Buy" and a consensus target price of $186.92.

About NRG Energy

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.