Meyer Handelman Co. Grows Stock Holdings in NRG Energy, Inc. $NRG

Key Points

• Meyer Handelman Co. increased its stake in NRG Energy, Inc. by 4.5% during the 2nd quarter, owning approximately 0.05% of the company's shares worth $15.77 million.
• NRG Energy reported quarterly earnings with $1.68 EPS, missing estimates, although revenue was $6.74 billion, exceeding projections.
• The company announced a quarterly dividend of $0.44 per share, with a dividend yield of 1.1% and a payout ratio of 79.64%.

Meyer Handelman Co. increased its stake in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 4.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 98,226 shares of the utilities provider's stock after acquiring an additional 4,249 shares during the period. Meyer Handelman Co. owned about 0.05% of NRG Energy worth $15,773,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in NRG. Horizon Investments LLC increased its holdings in NRG Energy by 3.0% in the 1st quarter. Horizon Investments LLC now owns 2,908 shares of the utilities provider's stock worth $276,000 after acquiring an additional 86 shares in the last quarter. Mather Group LLC. increased 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 worth $86,000 after buying an additional 97 shares in the last quarter. Cullen Frost Bankers Inc. raised its holdings in shares of NRG Energy by 13.0% during the first 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 last quarter. Private Trust Co. NA lifted its position in shares of NRG Energy by 8.7% in the first 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 in the last quarter. Finally, Allworth Financial LP increased its position in shares of NRG Energy by 19.2% during the first quarter. Allworth Financial LP now owns 758 shares of the utilities provider's stock worth $72,000 after purchasing an additional 122 shares in the last quarter. 97.72% of the stock is currently owned by institutional investors and hedge funds.

NRG Energy Trading Down 1.6%

NRG opened at $163.01 on Friday. NRG Energy, Inc. has a 52 week low of $79.57 and a 52 week high of $175.96. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 5.99. The business has a fifty day simple moving average of $155.98 and a 200-day simple moving average of $137.83. The firm has a market cap of $31.53 billion, a P/E ratio of 73.76, a P/E/G ratio of 1.36 and a beta of 1.17.

NRG Energy (NYSE:NRG - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $1.68 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 analyst estimates of $6.63 billion. NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.The business's revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $3.37 EPS. On average, equities analysts expect that NRG Energy, Inc. will post 6.36 earnings per share for the current year.

NRG Energy Dividend Announcement

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

Insider Buying and Selling at NRG Energy

In other news, VP Dak Liyanearachchi sold 10,672 shares of the stock in a transaction that occurred 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.86% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Melius began coverage on shares of NRG Energy in a research note on Wednesday, August 20th. They issued a "buy" rating and a $308.00 price target on the stock. Melius Research initiated coverage on NRG Energy in a report on Wednesday, August 20th. They set a "buy" rating and a $308.00 target price on the stock. Citigroup increased their price target on NRG Energy from $133.00 to $185.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Barclays boosted their price objective on NRG Energy from $197.00 to $203.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Finally, Scotiabank assumed coverage on NRG Energy in a research note on Monday. They issued a "sector outperform" rating and a $212.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $188.85.

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.

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