New Century Financial Group LLC Invests $242,000 in NRG Energy, Inc. $NRG

Key Points

• New Century Financial Group LLC invested approximately $242,000 in NRG Energy, acquiring 1,506 shares in the second quarter.
• Insider trading activity includes VP Dak Liyanearachchi selling 10,672 shares for a total of $1,654,160, reducing their ownership by 18.01%.
• NRG Energy is forecasted to have a consensus price target of $188.85, with recent ratings indicating a "Moderate Buy" sentiment among analysts.

New Century Financial Group LLC acquired a new stake in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,506 shares of the utilities provider's stock, valued at approximately $242,000.

Other hedge funds have also added to or reduced their stakes in the company. Ameritas Advisory Services LLC bought a new stake in shares of NRG Energy during the second quarter valued at approximately $129,000. Yeomans Consulting Group Inc. purchased a new stake in shares of NRG Energy in the 2nd quarter worth $423,000. Abacus Planning Group Inc. bought a new position in shares of NRG Energy during the 2nd quarter worth $202,000. ASR Vermogensbeheer N.V. purchased a new position in shares of NRG Energy during the second quarter valued at $4,606,000. Finally, New Wave Wealth Advisors LLC purchased a new stake in NRG Energy in the second quarter worth about $346,000. 97.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other NRG Energy news, VP Dak Liyanearachchi sold 10,672 shares of NRG Energy stock in a transaction dated Wednesday, September 10th. The stock was 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 owned 48,571 shares of the company's stock, valued at approximately $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 can be accessed through this link. Corporate insiders own 0.86% of the company's stock.

NRG Energy Stock Up 3.3%

Shares of NRG stock opened at $167.20 on Friday. The stock's fifty day moving average price is $156.94 and its 200 day moving average price is $140.33. The company has a debt-to-equity ratio of 5.99, a current ratio of 0.93 and a quick ratio of 0.88. NRG Energy, Inc. has a 1-year low of $79.57 and a 1-year high of $175.96. The company has a market cap of $32.34 billion, a price-to-earnings ratio of 75.66, a price-to-earnings-growth ratio of 1.32 and a beta of 1.14.

NRG Energy (NYSE:NRG - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $6.63 billion. NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.NRG Energy's revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.37 EPS. On average, research analysts expect that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy Dividend Announcement

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. 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 79.64%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NRG. Melius Research started coverage on shares of NRG Energy in a report on Wednesday, August 20th. They issued a "buy" rating and a $308.00 price target for the company. Barclays boosted 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. Citigroup upped their target price on NRG Energy from $133.00 to $185.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Melius initiated coverage on NRG Energy in a report on Wednesday, August 20th. They issued a "buy" rating and a $308.00 price target on the stock. Finally, Scotiabank initiated coverage on NRG Energy in a research report on Monday, September 22nd. They issued a "sector outperform" rating and a $212.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target 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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