New York State Teachers Retirement System Grows Position in NRG Energy, Inc. $NRG

Key Points

• The New York State Teachers Retirement System increased its stake in NRG Energy, Inc. by 5.6% in the second quarter, now owning approximately 0.11% of the company valued at $33.87 million.
• Analysts have varied ratings on NRG, with a consensus of Moderate Buy and an average price target of $188.85, while Citigroup recently raised their target from $133 to $185.
• Despite a revenue increase of 1.2% year-over-year, NRG Energy reported earnings per share of $1.68, missing estimates by $0.04 in their latest earnings report.

New York State Teachers Retirement System grew its stake in NRG Energy, Inc. (NYSE:NRG - Free Report) by 5.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 210,922 shares of the utilities provider's stock after purchasing an additional 11,173 shares during the period. New York State Teachers Retirement System owned about 0.11% of NRG Energy worth $33,870,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. GW&K Investment Management LLC raised its stake in shares of NRG Energy by 23.8% during the 1st quarter. GW&K Investment Management LLC now owns 672 shares of the utilities provider's stock worth $64,000 after buying an additional 129 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of NRG Energy by 99.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 413,911 shares of the utilities provider's stock worth $39,512,000 after buying an additional 206,096 shares during the period. Exchange Traded Concepts LLC raised its stake in shares of NRG Energy by 54.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 6,215 shares of the utilities provider's stock worth $593,000 after buying an additional 2,190 shares during the period. State of Alaska Department of Revenue raised its stake in shares of NRG Energy by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 23,728 shares of the utilities provider's stock worth $2,265,000 after buying an additional 630 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in shares of NRG Energy by 28.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 16,815 shares of the utilities provider's stock worth $1,605,000 after buying an additional 3,721 shares during the period. Hedge funds and other institutional investors own 97.72% of the company's stock.

Analyst Upgrades and Downgrades

NRG has been the subject of several research analyst reports. Scotiabank initiated coverage on NRG Energy in a research note on Monday, September 22nd. They set a "sector outperform" rating and a $212.00 target price for the company. Citigroup upped their target price on NRG Energy from $133.00 to $185.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Weiss Ratings reissued a "hold (c)" rating on shares of NRG Energy in a research note on Wednesday, October 8th. Wall Street Zen downgraded NRG Energy from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Melius Research began coverage on NRG Energy in a research note on Wednesday, August 20th. They issued a "buy" rating and a $308.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $188.85.

NRG Energy Stock Down 0.9%

Shares of NRG opened at $169.72 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 market capitalization of $32.83 billion, a PE ratio of 76.80, a price-to-earnings-growth ratio of 1.37 and a beta of 1.14. The stock has a fifty day simple moving average of $157.75 and a two-hundred day simple moving average of $145.04. 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 (NYSE:NRG - Get Free Report) last issued its earnings results on Wednesday, August 6th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.72 by ($0.04). NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.The company had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.63 billion. During the same period last year, the business earned $3.37 earnings per share. The firm's revenue was up 1.2% compared to the same quarter last year. As a group, equities analysts forecast that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued 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 dividend yield of 1.0%. NRG Energy's dividend payout ratio is currently 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 on 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 transaction, the vice president directly owned 48,571 shares in the company, valued at approximately $7,528,505. This represents a 18.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.86% 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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