Cadent Capital Advisors LLC Makes New $251,000 Investment in NRG Energy, Inc. $NRG

Key Points

• Cadent Capital Advisors LLC has acquired a new stake in NRG Energy, investing approximately $251,000 to purchase 1,561 shares during the second quarter.
• Analysts have boosted price targets for NRG Energy, with Citigroup raising it from $133.00 to $185.00 and Scotiabank initiating coverage with a target of $212.00 while giving a "sector outperform" rating.
• NRG Energy announced a quarterly dividend of $0.44 per share, reflecting an annualized dividend of $1.76 and a yield of 1.1%.

Cadent Capital Advisors LLC acquired a new stake in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 1,561 shares of the utilities provider's stock, valued at approximately $251,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Affinity Wealth Management LLC raised its stake in NRG Energy by 0.8% during the 2nd quarter. Affinity Wealth Management LLC now owns 43,528 shares of the utilities provider's stock worth $6,990,000 after acquiring an additional 327 shares during the period. Retireful LLC bought a new stake in shares of NRG Energy during the 2nd quarter valued at $676,000. Public Employees Retirement System of Ohio lifted its stake in shares of NRG Energy by 6.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 155,608 shares of the utilities provider's stock valued at $24,988,000 after buying an additional 10,047 shares in the last quarter. Northside Capital Management LLC bought a new position in NRG Energy in the 2nd quarter worth $385,000. Finally, Cigna Investments Inc. New purchased a new stake in NRG Energy in the 2nd quarter worth $314,000. 97.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Citigroup boosted their price objective on NRG Energy from $133.00 to $185.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Scotiabank began coverage on NRG Energy in a research note on Monday. They issued a "sector outperform" rating and a $212.00 price target for the company. BMO Capital Markets lifted their price objective on shares of NRG Energy from $167.00 to $185.00 and gave the company a "market perform" rating in a research report on Wednesday, August 6th. Wall Street Zen lowered shares of NRG Energy from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Melius Research initiated coverage on shares of NRG Energy in a report on Wednesday, August 20th. They issued a "buy" rating and a $308.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $188.85.

NRG Energy Stock Down 1.6%

Shares of NYSE NRG opened at $163.01 on Friday. NRG Energy, Inc. has a 1 year low of $79.57 and a 1 year high of $175.96. The firm has a 50-day simple moving average of $155.98 and a two-hundred day simple moving average of $137.83. The company has a market cap of $31.53 billion, a P/E ratio of 73.76, a PEG ratio of 1.36 and a beta of 1.17. The company has a debt-to-equity ratio of 5.99, a current ratio of 0.93 and a quick ratio of 0.88.

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 for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $6.63 billion. During the same quarter in the previous year, the company posted $3.37 earnings per share. The company's quarterly revenue was up 1.2% compared to the same quarter last year. Research analysts anticipate that NRG Energy, Inc. will post 6.36 earnings per share for the current year.

NRG Energy Dividend Announcement

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

Insider Activity at NRG Energy

In other news, VP Dak Liyanearachchi sold 10,672 shares of the company's stock in a transaction dated 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 transaction, the vice president directly owned 48,571 shares in the company, valued at approximately $7,528,505. This represents a 18.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.86% of the company's stock.

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.

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