Morningstar Investment Management LLC Makes New Investment in NRG Energy, Inc. $NRG

Key Points

• Morningstar Investment Management LLC has initiated a new investment in NRG Energy, acquiring 1,517 shares valued at approximately $244,000 during the 2nd quarter.
• NRG Energy has reported a 1.2% year-over-year revenue increase, bringing in $6.74 billion for the quarter, though it missed earnings per share expectations.
• The company has recently announced a quarterly dividend of $0.44, with a dividend yield of 1.1%, highlighting its ongoing shareholder returns despite current market conditions.

Morningstar Investment Management LLC bought a new position in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,517 shares of the utilities provider's stock, valued at approximately $244,000.

Other large investors also recently bought and sold shares of the company. Toth Financial Advisory Corp purchased a new stake in NRG Energy during the 2nd quarter worth approximately $27,000. Zions Bancorporation National Association UT purchased a new stake in NRG Energy during the 1st quarter worth approximately $28,000. Key Financial Inc purchased a new stake in NRG Energy during the 1st quarter worth approximately $30,000. Evermay Wealth Management LLC purchased a new stake in NRG Energy during the 1st quarter worth approximately $36,000. Finally, Kiker Wealth Management LLC purchased a new stake in NRG Energy during the 2nd quarter worth approximately $37,000. Hedge funds and other institutional investors own 97.72% of the company's stock.

NRG Energy Stock Performance

NRG opened at $165.69 on Wednesday. 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 fifty day moving average price of $156.96 and a 200 day moving average price of $144.34. NRG Energy, Inc. has a 1 year low of $79.57 and a 1 year high of $175.96. The stock has a market cap of $32.05 billion, a P/E ratio of 74.97, a P/E/G ratio of 1.36 and a beta of 1.14.

NRG Energy (NYSE:NRG - Get Free Report) last posted its earnings results 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). 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 analyst estimates of $6.63 billion. During the same quarter in the prior year, the firm earned $3.37 earnings per share. The business's revenue for the quarter was up 1.2% on a year-over-year basis. Equities research analysts anticipate that NRG Energy, Inc. will post 6.36 earnings per share for the current year.

NRG Energy Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, August 1st. NRG Energy's payout ratio is currently 79.64%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NRG. Weiss Ratings reissued a "hold (c)" rating on shares of NRG Energy in a research report on Wednesday, October 8th. Melius began coverage on shares of NRG Energy in a report on Wednesday, August 20th. They issued a "buy" rating and a $308.00 price objective on the stock. Barclays upped their price objective on shares of NRG Energy from $197.00 to $203.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. BMO Capital Markets upped their price objective on shares of NRG Energy from $167.00 to $185.00 and gave the company a "market perform" rating in a report on Wednesday, August 6th. Finally, Scotiabank began coverage on shares of NRG Energy in a report on Monday, September 22nd. They issued a "sector outperform" rating and a $212.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, NRG Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $188.85.

Insiders Place Their Bets

In other NRG Energy news, VP Dak Liyanearachchi sold 10,672 shares of the 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.61% 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.

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