NewEdge Advisors LLC Acquires 25,211 Shares of NRG Energy, Inc. $NRG

Key Points

• NewEdge Advisors LLC increased its stake in NRG Energy by 146.2% during Q1, owning 42,456 shares valued at approximately $4.05 million.
• NRG Energy reported a Q2 EPS of $1.68, missing estimates, while its revenue of $6.74 billion exceeded expectations, showing a 1.2% year-over-year increase.
• The company announced a quarterly dividend of $0.44, translating to an annualized yield of 1.2%, with a payout ratio of 79.64%.

NewEdge Advisors LLC increased its position in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 146.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 42,456 shares of the utilities provider's stock after buying an additional 25,211 shares during the period. NewEdge Advisors LLC's holdings in NRG Energy were worth $4,053,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Horizon Investments LLC boosted its holdings in NRG Energy by 3.0% in the 1st quarter. Horizon Investments LLC now owns 2,908 shares of the utilities provider's stock valued at $276,000 after purchasing an additional 86 shares during the period. Mather Group LLC. lifted its holdings in NRG Energy by 12.1% during the 1st quarter. Mather Group LLC. now owns 900 shares of the utilities provider's stock worth $86,000 after buying an additional 97 shares in the last quarter. Cullen Frost Bankers Inc. grew its position in shares of NRG Energy by 13.0% during the 1st quarter. Cullen Frost Bankers Inc. now owns 904 shares of the utilities provider's stock worth $86,000 after buying an additional 104 shares during the period. Private Trust Co. NA boosted its stake in NRG Energy by 8.7% during the 1st quarter. Private Trust Co. NA now owns 1,482 shares of the utilities provider's stock worth $141,000 after acquiring an additional 119 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in NRG Energy by 19.2% during the 1st quarter. Allworth Financial LP now owns 758 shares of the utilities provider's stock worth $72,000 after acquiring an additional 122 shares during the last quarter. 97.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on NRG. Citigroup boosted their price objective on shares of NRG Energy from $133.00 to $185.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Melius started 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 target on shares of NRG Energy from $197.00 to $203.00 and gave the company an "overweight" rating in a research note 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 stock a "market perform" rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen cut shares of NRG Energy from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $186.92.

Insider Activity at NRG Energy

In other news, VP Dak Liyanearachchi sold 10,672 shares of NRG Energy 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 sale, the vice president directly owned 48,571 shares in the company, valued at $7,528,505. The trade was a 18.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.61% of the stock is owned by insiders.

NRG Energy Trading Up 2.4%

Shares of NRG stock traded up $3.91 during trading hours on Monday, hitting $168.75. 641,716 shares of the company were exchanged, compared to its average volume of 3,096,683. NRG Energy, Inc. has a fifty-two week low of $79.57 and a fifty-two week high of $175.96. The company has a 50 day simple moving average of $153.23 and a two-hundred day simple moving average of $134.01. The company has a debt-to-equity ratio of 5.99, a quick ratio of 0.88 and a current ratio of 0.93. The firm has a market cap of $32.64 billion, a P/E ratio of 76.26, a P/E/G ratio of 1.34 and a beta of 1.17.

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 firm had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.63 billion. During the same quarter in the prior year, the business earned $3.37 earnings per share. NRG Energy's revenue for the quarter was up 1.2% on a year-over-year basis. Equities analysts anticipate that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, August 1st. NRG Energy's payout ratio is presently 79.64%.

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.