National Bank of Canada FI Buys 142,143 Shares of NRG Energy, Inc. (NYSE:NRG)

Key Points

• National Bank of Canada FI increased its stake in NRG Energy, Inc. by 51.9% during the first quarter, acquiring an additional 142,143 shares, bringing its total ownership to approximately $39.75 million.
• NRG Energy recently announced a quarterly dividend of $0.44 per share, translating to an annualized dividend of $1.76 and a yield of 1.2%, with a payout ratio of 79.64%.
• Wall Street analysts have varying ratings on NRG Energy, with a consensus of Moderate Buy and an average price target of $162.70.

National Bank of Canada FI lifted its stake in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 51.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 415,788 shares of the utilities provider's stock after acquiring an additional 142,143 shares during the quarter. National Bank of Canada FI owned about 0.20% of NRG Energy worth $39,751,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in NRG. Brighton Jones LLC boosted its stake in shares of NRG Energy by 41.8% during the 4th quarter. Brighton Jones LLC now owns 5,187 shares of the utilities provider's stock worth $468,000 after acquiring an additional 1,528 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of NRG Energy by 25.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 207,815 shares of the utilities provider's stock worth $18,749,000 after acquiring an additional 42,570 shares in the last quarter. Cerity Partners LLC boosted its stake in NRG Energy by 4.8% during the 4th quarter. Cerity Partners LLC now owns 27,677 shares of the utilities provider's stock valued at $2,513,000 after purchasing an additional 1,279 shares during the period. FIL Ltd bought a new stake in NRG Energy during the 4th quarter valued at approximately $20,167,000. Finally, Bank of Nova Scotia boosted its stake in NRG Energy by 2.8% during the 4th quarter. Bank of Nova Scotia now owns 22,698 shares of the utilities provider's stock valued at $2,048,000 after purchasing an additional 623 shares during the period. Institutional investors own 97.72% of the company's stock.

Insider Activity

In other news, Director Kevin Howell sold 50,000 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $154.50, for a total value of $7,725,000.00. Following the completion of the transaction, the director directly owned 55,427 shares of the company's stock, valued at approximately $8,563,471.50. This represents a 47.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.86% of the company's stock.

NRG Energy Trading Down 0.3%

NRG Energy stock opened at $152.72 on Friday. The business has a 50 day moving average price of $155.73 and a two-hundred day moving average price of $126.06. The company has a quick ratio of 1.02, a current ratio of 0.93 and a debt-to-equity ratio of 5.99. The stock has a market cap of $29.54 billion, a price-to-earnings ratio of 69.10, a price-to-earnings-growth ratio of 1.27 and a beta of 1.14. NRG Energy, Inc. has a 12 month low of $76.13 and a 12 month high of $175.96.

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). 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 period last year, the company earned $3.37 EPS. The company's revenue was up 1.2% on a year-over-year basis. As a group, equities analysts forecast that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be issued a $0.44 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.2%. NRG Energy's dividend payout ratio is presently 79.64%.

Wall Street Analysts Forecast Growth

NRG has been the subject of several recent analyst reports. Barclays increased their target price on NRG Energy from $197.00 to $203.00 and gave the company an "overweight" rating in a research note on Thursday. Wall Street Zen downgraded NRG Energy from a "buy" rating to a "hold" rating in a research note on Saturday. Raymond James Financial initiated coverage on NRG Energy in a research note on Friday, June 13th. They set a "strong-buy" rating and a $195.00 target price for the company. Guggenheim increased their target price on NRG Energy from $138.00 to $173.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Finally, Jefferies Financial Group increased their target price on NRG Energy from $113.00 to $132.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $162.70.

About NRG Energy

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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