New Wave Wealth Advisors LLC Makes New $346,000 Investment in NRG Energy, Inc. $NRG

Key Points

• New Wave Wealth Advisors LLC made a new investment of approximately $346,000 in NRG Energy, acquiring 2,157 shares in the second quarter of this year.
• Institutional investors hold around 97.72% of NRG Energy's stock, with Goldman Sachs increasing its position by 468.4% and Amundi by 772.5% in the same period.
• NRG Energy announced a quarterly dividend of $0.44 per share, reflecting an annual yield of 1.1% and a dividend payout ratio of 79.64%.

New Wave Wealth Advisors LLC bought a new position in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,157 shares of the utilities provider's stock, valued at approximately $346,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its position in shares of NRG Energy by 468.4% in the first quarter. Goldman Sachs Group Inc. now owns 4,757,735 shares of the utilities provider's stock valued at $454,173,000 after purchasing an additional 6,049,247 shares during the last quarter. Amundi grew its position in shares of NRG Energy by 772.5% in the first quarter. Amundi now owns 4,378,022 shares of the utilities provider's stock valued at $406,342,000 after purchasing an additional 3,876,235 shares during the last quarter. Boston Partners grew its position in shares of NRG Energy by 169.5% in the first quarter. Boston Partners now owns 2,817,018 shares of the utilities provider's stock valued at $269,230,000 after purchasing an additional 1,771,829 shares during the last quarter. Appaloosa LP grew its position in shares of NRG Energy by 12.9% in the first quarter. Appaloosa LP now owns 2,050,000 shares of the utilities provider's stock valued at $195,693,000 after purchasing an additional 235,000 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of NRG Energy by 33.6% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,481,120 shares of the utilities provider's stock valued at $141,388,000 after purchasing an additional 372,618 shares during the last quarter. 97.72% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other NRG Energy news, VP Dak Liyanearachchi sold 10,672 shares of the firm's stock in a transaction dated 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 transaction, the vice president owned 48,571 shares in the company, valued at $7,528,505. This trade represents a 18.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.86% of the stock is currently owned by corporate insiders.

NRG Energy Stock Up 0.1%

Shares of NRG opened at $162.13 on Thursday. The stock has a market cap of $31.36 billion, a price-to-earnings ratio of 73.36, a P/E/G ratio of 1.32 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 5.99. NRG Energy, Inc. has a 12 month low of $79.57 and a 12 month high of $175.96. The company has a 50-day moving average price of $156.76 and a two-hundred day moving average price of $139.84.

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

NRG Energy Announces Dividend

The firm also recently declared 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 currently 79.64%.

Analyst Ratings Changes

NRG has been the topic of several research analyst reports. Wall Street Zen downgraded NRG Energy from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Raymond James Financial initiated coverage on shares of NRG Energy in a research note on Friday, June 13th. They issued a "strong-buy" rating and a $195.00 target price for the company. BMO Capital Markets increased their target price on shares of NRG Energy from $167.00 to $185.00 and gave the company a "market perform" rating in a research note on Wednesday, August 6th. Citigroup increased their target price on shares of NRG Energy from $133.00 to $185.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Finally, Scotiabank initiated coverage on shares of NRG Energy in a research note on Monday, September 22nd. They issued a "sector outperform" rating and a $212.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $188.85.

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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