Fred Alger Management LLC Increases Stake in NRG Energy, Inc. $NRG

Key Points

• Fred Alger Management LLC increased its holdings in NRG Energy by 39.1%, owning a total of 1,124,529 shares after purchasing an additional 316,075 shares during the first quarter.
• NRG Energy recently reported quarterly earnings of $1.68 EPS, falling short of analysts' estimates, but revenue was up 1.2% year-over-year at $6.74 billion.
• The company announced a quarterly dividend of $0.44, resulting in an annualized dividend of $1.76 with a yield of 1.2%.

Fred Alger Management LLC lifted its holdings in NRG Energy, Inc. (NYSE:NRG - Free Report) by 39.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,124,529 shares of the utilities provider's stock after buying an additional 316,075 shares during the quarter. NRG Energy makes up about 0.6% of Fred Alger Management LLC's holdings, making the stock its 27th biggest holding. Fred Alger Management LLC owned 0.55% of NRG Energy worth $107,348,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NRG. Horizon Investments LLC lifted its stake in NRG Energy by 3.0% during the 1st quarter. Horizon Investments LLC now owns 2,908 shares of the utilities provider's stock valued at $276,000 after acquiring an additional 86 shares during the period. Mather Group LLC. lifted its stake in 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 acquiring an additional 97 shares during the period. Cullen Frost Bankers Inc. lifted its stake in NRG Energy by 13.0% during the 1st quarter. Cullen Frost Bankers Inc. now owns 904 shares of the utilities provider's stock valued at $86,000 after acquiring an additional 104 shares during the period. Private Trust Co. NA lifted its stake in NRG Energy by 8.7% during the 1st quarter. Private Trust Co. NA now owns 1,482 shares of the utilities provider's stock valued at $141,000 after acquiring an additional 119 shares during the period. Finally, Allworth Financial LP lifted its stake in NRG Energy by 19.2% during the 1st quarter. Allworth Financial LP now owns 758 shares of the utilities provider's stock valued at $72,000 after acquiring an additional 122 shares during the period. 97.72% of the stock is owned by hedge funds and other institutional investors.

NRG Energy Stock Performance

NYSE NRG traded up $7.14 on Friday, reaching $165.06. 2,278,123 shares of the stock were exchanged, compared to its average volume of 1,979,868. NRG Energy, Inc. has a one year low of $77.49 and a one year high of $175.96. The firm has a market capitalization of $31.93 billion, a PE ratio of 74.69, a PEG ratio of 1.29 and a beta of 1.17. The company's 50-day simple moving average is $153.23 and its two-hundred day simple moving average is $133.81. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 5.99.

NRG Energy (NYSE:NRG - Get Free Report) last released its earnings results 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 return on equity of 88.22% and a net margin of 1.78%.The firm had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.63 billion. During the same quarter in the previous year, the business posted $3.37 EPS. NRG Energy's revenue was up 1.2% on a year-over-year basis. Analysts expect that NRG Energy, Inc. will post 6.36 EPS for the current fiscal year.

NRG Energy Dividend Announcement

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

Insider Buying and Selling

In other NRG Energy news, VP Dak Liyanearachchi sold 10,672 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president directly owned 48,571 shares of the company's stock, valued at $7,528,505. This trade represents a 18.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.86% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on NRG shares. Melius started 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. Melius Research started 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. Wall Street Zen cut shares of NRG Energy from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. BMO Capital Markets increased their price objective 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. Finally, Barclays increased their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, NRG Energy has an average rating of "Moderate Buy" and a consensus target price of $186.92.

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.