Bayforest Capital Ltd Increases Stake in NRG Energy, Inc. $NRG

Key Points

• Bayforest Capital Ltd increased its stake in NRG Energy, Inc. by 158.3% in Q2, owning 2,898 shares worth approximately $465,000 at the latest reporting period.
• NRG Energy announced a quarterly dividend of $0.44 per share, resulting in an annualized dividend yield of 1.1% and a payout ratio of 79.64%.
• Analysts have a consensus rating of "Moderate Buy" for NRG Energy, with an average price target of $188.85, while the stock currently trades around $165.69.

Bayforest Capital Ltd boosted its stake in NRG Energy, Inc. (NYSE:NRG - Free Report) by 158.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,898 shares of the utilities provider's stock after buying an additional 1,776 shares during the period. Bayforest Capital Ltd's holdings in NRG Energy were worth $465,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NRG. Donald L. Hagan LLC boosted its position in shares of NRG Energy by 2.0% during the second 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 in the last quarter. Horizon Investments LLC lifted its position in NRG Energy by 3.0% during the first quarter. Horizon Investments LLC now owns 2,908 shares of the utilities provider's stock valued at $276,000 after buying an additional 86 shares during the period. Mather Group LLC. boosted its holdings in shares of NRG Energy by 12.1% during the 1st quarter. Mather Group LLC. now owns 900 shares of the utilities provider's stock valued at $86,000 after buying an additional 97 shares in the last quarter. Cullen Frost Bankers Inc. grew its position in shares of NRG Energy by 13.0% in the 1st quarter. Cullen Frost Bankers Inc. now owns 904 shares of the utilities provider's stock worth $86,000 after buying an additional 104 shares during the period. Finally, Private Trust Co. NA increased its stake in shares of NRG Energy by 8.7% in the 1st quarter. Private Trust Co. NA now owns 1,482 shares of the utilities provider's stock worth $141,000 after acquiring an additional 119 shares in the last quarter. Hedge funds and other institutional investors own 97.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NRG. Weiss Ratings restated a "hold (c)" rating on shares of NRG Energy in a report on Wednesday, October 8th. Melius initiated 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. BMO Capital Markets lifted their price objective on NRG Energy from $167.00 to $185.00 and gave the company a "market perform" rating in a research note on Wednesday, August 6th. Citigroup increased their target price on NRG Energy from $133.00 to $185.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Finally, Wall Street Zen lowered NRG Energy from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $188.85.

NRG Energy Stock Down 1.8%

NRG Energy stock opened at $165.69 on Wednesday. NRG Energy, Inc. has a 12 month low of $79.57 and a 12 month high of $175.96. The stock has a fifty day simple moving average of $156.96 and a two-hundred day simple moving average of $144.34. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 5.99. The firm has a market cap of $32.05 billion, a price-to-earnings ratio of 74.97, a PEG ratio of 1.36 and a beta of 1.14.

NRG Energy (NYSE:NRG - Get Free Report) last announced 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 net margin of 1.78% and a return on equity of 88.22%. The business had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.63 billion. During the same period in the previous year, the company earned $3.37 earnings per share. The company's revenue for the quarter was up 1.2% compared to the same quarter last year. Equities analysts predict that NRG Energy, Inc. will post 6.36 EPS for the current fiscal year.

NRG Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a dividend of $0.44 per share. 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 payout ratio is presently 79.64%.

Insiders Place Their Bets

In related news, VP Dak Liyanearachchi sold 10,672 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $155.00, for a total value of $1,654,160.00. Following the sale, the vice president owned 48,571 shares in the company, valued at approximately $7,528,505. This trade represents a 18.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.61% of the stock is currently owned by company insiders.

NRG Energy Company 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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