Counterpoint Mutual Funds LLC Makes New $2.64 Million Investment in NRG Energy, Inc. $NRG

Key Points

• Counterpoint Mutual Funds LLC made a new investment of approximately $2.64 million in NRG Energy, acquiring 16,445 shares, which now represents 0.2% of its portfolio.
• Several institutional investors have also increased their stakes in NRG Energy, with Envestnet Asset Management Inc. raising its ownership by 99.2% in the first quarter.
• NRG Energy recently reported earnings of $1.68 per share, which was below analysts' expectations of $1.72, alongside a revenue of $6.74 billion surpassing estimates.

Counterpoint Mutual Funds LLC purchased a new position in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,445 shares of the utilities provider's stock, valued at approximately $2,641,000. NRG Energy accounts for about 0.2% of Counterpoint Mutual Funds LLC's investment portfolio, making the stock its 14th largest holding.

Other institutional investors and hedge funds also recently bought and sold shares of the company. GW&K Investment Management LLC increased its stake in NRG Energy by 23.8% during the first quarter. GW&K Investment Management LLC now owns 672 shares of the utilities provider's stock worth $64,000 after purchasing an additional 129 shares during the period. Envestnet Asset Management Inc. increased its stake in NRG Energy by 99.2% during the first quarter. Envestnet Asset Management Inc. now owns 413,911 shares of the utilities provider's stock worth $39,512,000 after purchasing an additional 206,096 shares during the period. Exchange Traded Concepts LLC increased its stake in NRG Energy by 54.4% during the first quarter. Exchange Traded Concepts LLC now owns 6,215 shares of the utilities provider's stock worth $593,000 after purchasing an additional 2,190 shares during the period. State of Alaska Department of Revenue increased its stake in NRG Energy by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 23,728 shares of the utilities provider's stock worth $2,265,000 after purchasing an additional 630 shares during the period. Finally, Janney Montgomery Scott LLC increased its stake in NRG Energy by 28.4% during the first quarter. Janney Montgomery Scott LLC now owns 16,815 shares of the utilities provider's stock worth $1,605,000 after purchasing an additional 3,721 shares during the period. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on NRG. BMO Capital Markets upped their target price 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. Wall Street Zen lowered shares of NRG Energy from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Barclays upped their target price 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. Melius Research began coverage on shares of NRG Energy in a research note on Wednesday, August 20th. They set a "buy" rating and a $308.00 target price on the stock. Finally, Scotiabank began coverage on shares of NRG Energy in a research note on Monday. They set a "sector outperform" rating and a $212.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $188.85.

NRG Energy Price Performance

Shares of NYSE NRG opened at $171.11 on Tuesday. The company has a debt-to-equity ratio of 5.99, a current ratio of 0.93 and a quick ratio of 0.88. The stock has a fifty day moving average price of $154.84 and a 200 day moving average price of $136.88. NRG Energy, Inc. has a 1-year low of $79.57 and a 1-year high of $175.96. The company has a market cap of $33.10 billion, a PE ratio of 77.43, a P/E/G ratio of 1.35 and a beta of 1.17.

NRG Energy (NYSE:NRG - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.04). The business had revenue of $6.74 billion during the quarter, compared to analysts' expectations of $6.63 billion. NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.The company's revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.37 EPS. Sell-side analysts forecast that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were given a $0.44 dividend. The ex-dividend date was Friday, August 1st. This represents a $1.76 annualized dividend and a yield of 1.0%. NRG Energy's dividend payout ratio is presently 79.64%.

Insider Transactions at NRG Energy

In other NRG Energy news, VP Dak Liyanearachchi sold 10,672 shares of the stock in a transaction 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 transaction, the vice president 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 legal filing with the SEC, which can be accessed through this link. Insiders own 0.61% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.