Scotia Capital Inc. Has $1.74 Million Stake in NRG Energy, Inc. (NYSE:NRG)

Key Points

• Scotia Capital Inc. increased its stake in NRG Energy, Inc. by 189.3% in the first quarter, owning a total of 18,271 shares valued at approximately $1.74 million.
• Several institutional investors have also significantly increased their holdings in NRG Energy, with hedge funds owning 97.72% of the company's stock.
• NRG Energy recently announced a quarterly dividend of $0.44 per share, representing an annualized yield of 1.0%, with a payout ratio of 28.39%.

Scotia Capital Inc. boosted its stake in NRG Energy, Inc. (NYSE:NRG - Free Report) by 189.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,271 shares of the utilities provider's stock after buying an additional 11,955 shares during the quarter. Scotia Capital Inc.'s holdings in NRG Energy were worth $1,744,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Mather Group LLC. boosted its stake in NRG Energy by 12.1% in the 1st quarter. Mather Group LLC. now owns 900 shares of the utilities provider's stock valued at $86,000 after buying an additional 97 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake in NRG Energy by 13.0% in the 1st quarter. Cullen Frost Bankers Inc. now owns 904 shares of the utilities provider's stock valued at $86,000 after buying an additional 104 shares in the last quarter. Private Trust Co. NA boosted its stake in NRG Energy by 8.7% in the 1st quarter. Private Trust Co. NA now owns 1,482 shares of the utilities provider's stock valued at $141,000 after buying an additional 119 shares in the last quarter. Allworth Financial LP boosted its stake in NRG Energy by 19.2% in the 1st quarter. Allworth Financial LP now owns 758 shares of the utilities provider's stock valued at $72,000 after buying an additional 122 shares in the last quarter. Finally, Stratos Wealth Partners LTD. boosted its stake in NRG Energy by 4.8% in the first quarter. Stratos Wealth Partners LTD. now owns 2,836 shares of the utilities provider's stock worth $271,000 after purchasing an additional 129 shares in the last quarter. Institutional investors and hedge funds own 97.72% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. BMO Capital Markets boosted their price objective on NRG Energy from $167.00 to $185.00 and gave the stock a "market perform" rating in a research note on Wednesday. Jefferies Financial Group boosted their price objective on NRG Energy from $113.00 to $132.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Barclays boosted their price objective on NRG Energy from $197.00 to $203.00 and gave the stock an "overweight" rating in a research note on Thursday. Wells Fargo & Company boosted their price objective on NRG Energy from $165.00 to $200.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 13th. Finally, Raymond James Financial assumed coverage on NRG Energy in a research note on Friday, June 13th. They issued a "strong-buy" rating and a $195.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, NRG Energy has an average rating of "Moderate Buy" and a consensus price target of $162.70.

NRG Energy Trading Down 0.3%

Shares of NRG stock traded down $0.50 on Friday, reaching $152.72. 2,574,077 shares of the stock were exchanged, compared to its average volume of 3,324,011. The stock has a market cap of $29.54 billion, a PE ratio of 69.10, a P/E/G ratio of 1.27 and a beta of 1.14. NRG Energy, Inc. has a one year low of $76.13 and a one year high of $175.96. The company has a debt-to-equity ratio of 5.99, a current ratio of 0.93 and a quick ratio of 1.02. The stock has a 50 day moving average price of $155.79 and a 200 day moving average price of $125.67.

NRG Energy (NYSE:NRG - Get Free Report) last released its 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 firm 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 company's revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.37 EPS. Equities research analysts forecast that NRG Energy, Inc. will post 6.36 EPS for the current fiscal year.

NRG Energy Announces Dividend

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

Insider Buying and Selling

In related news, Director Kevin Howell sold 50,000 shares of the company's stock in a transaction dated 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 sale, the director owned 55,427 shares in the company, valued at approximately $8,563,471.50. This represents a 47.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.86% of the company's stock.

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.