Financiere des Professionnels Fonds d investissement inc. Acquires New Holdings in NRG Energy, Inc. $NRG

Key Points

• Financiere des Professionnels Fonds d investissement inc. has invested $762,000 in NRG Energy, acquiring 4,743 shares in the second quarter.
• NRG Energy recently faced a rating downgrade from "buy" to "hold" by Wall Street Zen, while other analysts have set a target price of up to $203.00.
• NRG Energy declared a quarterly dividend of $0.44 per share, translating to an annualized yield of 1.1% with a payout ratio of 79.64%.

Financiere des Professionnels Fonds d investissement inc. bought a new position in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,743 shares of the utilities provider's stock, valued at approximately $762,000.

A number of other large investors have also bought and sold shares of NRG. GW&K Investment Management LLC boosted its stake in NRG Energy by 23.8% in the 1st 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. grew its holdings 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 position 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 buying an additional 2,190 shares during the last quarter. State of Alaska Department of Revenue raised its stake in NRG Energy by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 23,728 shares of the utilities provider's stock valued at $2,265,000 after buying an additional 630 shares during the period. Finally, Janney Montgomery Scott LLC boosted its stake in shares of NRG Energy by 28.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 16,815 shares of the utilities provider's stock worth $1,605,000 after acquiring an additional 3,721 shares during the period. 97.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NRG shares. Barclays raised their price target on NRG Energy from $197.00 to $203.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Wall Street Zen cut NRG Energy from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Raymond James Financial initiated coverage on shares of NRG Energy in a report on Friday, June 13th. They set a "strong-buy" rating and a $195.00 target price on the stock. Citigroup upped their price target on shares of NRG Energy from $133.00 to $185.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Finally, Melius Research assumed coverage on NRG Energy in a report on Wednesday, August 20th. They set a "buy" rating and a $308.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $186.92.

NRG Energy Stock Down 0.2%

Shares of NYSE:NRG traded down $0.32 during trading on Friday, reaching $163.87. 4,195,804 shares of the stock were exchanged, compared to its average volume of 2,007,153. NRG Energy, Inc. has a 1-year low of $79.57 and a 1-year high of $175.96. The stock has a fifty day moving average of $154.44 and a two-hundred day moving average of $135.73. 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 firm has a market cap of $31.70 billion, a price-to-earnings ratio of 74.15, a price-to-earnings-growth ratio of 1.34 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 for the quarter, missing analysts' consensus estimates of $1.72 by ($0.04). The business had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.63 billion. NRG Energy had a net margin of 1.78% and a return on equity of 88.22%. The firm's quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the business posted $3.37 earnings per share. Research analysts anticipate that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy Announces Dividend

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

Insider Buying and Selling

In other NRG Energy news, VP Dak Liyanearachchi sold 10,672 shares of the business's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $155.00, for a total transaction of $1,654,160.00. Following the sale, the vice president owned 48,571 shares of the company's stock, valued at $7,528,505. The trade was a 18.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.86% of the company's stock.

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.