Cidel Asset Management Inc. Acquires Shares of 1,597 NRG Energy, Inc. $NRG

Key Points

• Cidel Asset Management Inc. has acquired 1,597 shares of NRG Energy, Inc. valued at approximately $256,000, marking a new stake in the company.
• Several other institutional investors have also recently taken new positions in NRG Energy, leading to institutional ownership of nearly 98% of the company's stock.
• Analyst ratings for NRG Energy show a consensus of "Moderate Buy", with target prices ranging significantly, reflecting strong interest among analysts.

Cidel Asset Management Inc. bought a new stake in NRG Energy, Inc. (NYSE:NRG - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,597 shares of the utilities provider's stock, valued at approximately $256,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Toth Financial Advisory Corp acquired a new position in shares of NRG Energy in the 2nd quarter valued at approximately $27,000. Zions Bancorporation National Association UT acquired a new position in shares of NRG Energy in the 1st quarter valued at approximately $28,000. Key Financial Inc acquired a new position in shares of NRG Energy in the 1st quarter valued at approximately $30,000. Evermay Wealth Management LLC acquired a new position in shares of NRG Energy in the 1st quarter valued at approximately $36,000. Finally, Kiker Wealth Management LLC acquired a new position in shares of NRG Energy in the 2nd quarter valued at approximately $37,000. 97.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on NRG shares. BMO Capital Markets boosted their target price 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. Scotiabank assumed coverage on shares of NRG Energy in a research report on Monday, September 22nd. They set a "sector outperform" rating and a $212.00 price objective for the company. Citigroup upped their price objective on shares of NRG Energy from $133.00 to $185.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Jefferies Financial Group reiterated a "buy" rating and set a $198.00 price objective on shares of NRG Energy in a research report on Monday. Finally, Melius assumed coverage on shares of NRG Energy in a research report on Wednesday, August 20th. They set a "buy" rating and a $308.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $193.92.

Insider Activity at NRG Energy

In other news, VP Dak Liyanearachchi sold 10,672 shares of the company's stock in a transaction 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 directly owned 48,571 shares of the company's stock, valued at approximately $7,528,505. This represents a 18.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.61% of the company's stock.

NRG Energy Trading Down 1.0%

Shares of NYSE NRG opened at $167.01 on Tuesday. The company has a debt-to-equity ratio of 5.99, a quick ratio of 0.88 and a current ratio of 0.93. NRG Energy, Inc. has a 52-week low of $79.57 and a 52-week high of $175.96. The firm has a 50 day moving average price of $158.38 and a two-hundred day moving average price of $146.78. The stock has a market cap of $32.31 billion, a P/E ratio of 75.57 and a beta of 1.14.

NRG Energy (NYSE:NRG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $1.68 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 firm had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.63 billion. During the same period in the prior year, the company posted $3.37 earnings per share. The company's revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities analysts forecast 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 will be paid on Monday, November 17th. Stockholders of record on Monday, November 3rd will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, November 3rd. NRG Energy's dividend payout ratio 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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