Redwood Investment Management LLC Raises Holdings in NRG Energy, Inc. $NRG

Key Points

• Redwood Investment Management LLC has increased its stake in NRG Energy, Inc. by 120.1%, owning 45,703 shares valued at approximately $4.36 million.
• NRG Energy reported $1.68 EPS in its latest earnings, falling short of the expected $1.72, while revenue was above estimates at $6.74 billion.
• The firm declared a quarterly dividend of $0.44, reflecting a yield of 1.2%, with a payout ratio currently at 79.64%.

Redwood Investment Management LLC grew its position in NRG Energy, Inc. (NYSE:NRG - Free Report) by 120.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,703 shares of the utilities provider's stock after buying an additional 24,942 shares during the quarter. Redwood Investment Management LLC's holdings in NRG Energy were worth $4,363,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Zions Bancorporation National Association UT acquired a new stake in shares of NRG Energy in the first quarter valued at $28,000. Key Financial Inc acquired a new stake in shares of NRG Energy in the first quarter valued at $30,000. Evermay Wealth Management LLC acquired a new stake in shares of NRG Energy in the first quarter valued at $36,000. Park Square Financial Group LLC purchased a new position in NRG Energy in the fourth quarter valued at $53,000. Finally, UMB Bank n.a. grew its stake in NRG Energy by 44.0% during the 1st quarter. UMB Bank n.a. now owns 655 shares of the utilities provider's stock worth $63,000 after purchasing an additional 200 shares in the last quarter. 97.72% of the stock is owned by institutional investors and hedge funds.

NRG Energy Stock Performance

Shares of NYSE NRG traded down $3.14 during trading hours on Friday, reaching $145.52. The stock had a trading volume of 1,560,812 shares, compared to its average volume of 2,914,910. The firm has a market cap of $28.15 billion, a price-to-earnings ratio of 65.84, a PEG ratio of 1.21 and a beta of 1.14. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 5.99. NRG Energy, Inc. has a fifty-two week low of $76.13 and a fifty-two week high of $175.96. The firm has a 50-day moving average of $154.48 and a 200-day moving average of $130.31.

NRG Energy (NYSE:NRG - Get Free Report) last announced 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). The firm had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.63 billion. NRG Energy had a net margin of 1.78% and a return on equity of 88.22%. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the company earned $3.37 earnings per share. Equities research analysts predict that NRG Energy, Inc. will post 6.36 earnings per share for the current year.

NRG Energy Dividend Announcement

The business also recently disclosed 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 of this dividend was Friday, August 1st. This represents a $1.76 annualized dividend and a yield of 1.2%. NRG Energy's dividend payout ratio is currently 79.64%.

Analyst Ratings Changes

NRG has been the subject of several analyst reports. Melius initiated coverage on NRG Energy in a research note on Wednesday, August 20th. They set a "buy" rating and a $308.00 target price for the company. Guggenheim boosted their target price on NRG Energy from $138.00 to $173.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Wall Street Zen cut NRG Energy from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Barclays boosted their target price on NRG Energy from $197.00 to $203.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Finally, Citigroup boosted 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. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, NRG Energy has a consensus rating of "Moderate Buy" and an average target price of $186.92.

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.