Secure Asset Management LLC Buys Shares of 3,390 NRG Energy, Inc. $NRG

Key Points

• Secure Asset Management LLC has acquired 3,390 shares of NRG Energy, valued at approximately $544,000, as disclosed in a recent SEC filing.
• NRG Energy's stock currently has an average target price of $186.92, with ratings indicating a "Moderate Buy" sentiment among analysts.
• The company announced a quarterly dividend of $0.44 per share, representing an annualized dividend of $1.76 and a yield of 1.1%.

Secure Asset Management LLC acquired a new stake in NRG Energy, Inc. (NYSE:NRG - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,390 shares of the utilities provider's stock, valued at approximately $544,000.

A number of other hedge funds have also recently modified their holdings of the company. GW&K Investment Management LLC grew its stake in shares of NRG Energy by 23.8% in the 1st quarter. GW&K Investment Management LLC now owns 672 shares of the utilities provider's stock valued at $64,000 after buying an additional 129 shares during the period. Envestnet Asset Management Inc. grew its position in NRG Energy by 99.2% in the first quarter. Envestnet Asset Management Inc. now owns 413,911 shares of the utilities provider's stock worth $39,512,000 after acquiring an additional 206,096 shares during the period. Exchange Traded Concepts LLC grew its position in NRG Energy by 54.4% in the first quarter. Exchange Traded Concepts LLC now owns 6,215 shares of the utilities provider's stock worth $593,000 after acquiring an additional 2,190 shares during the period. State of Alaska Department of Revenue grew its position in NRG Energy by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 23,728 shares of the utilities provider's stock worth $2,265,000 after acquiring an additional 630 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in NRG Energy by 28.4% in the first quarter. Janney Montgomery Scott LLC now owns 16,815 shares of the utilities provider's stock worth $1,605,000 after acquiring 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

A number of analysts recently issued reports on NRG shares. Melius Research started coverage on NRG Energy in a research report on Wednesday, August 20th. They set a "buy" rating and a $308.00 price objective for the company. Raymond James Financial initiated coverage on shares of NRG Energy in a research note on Friday, June 13th. They set a "strong-buy" rating and a $195.00 target price for the company. Melius assumed coverage on shares of NRG Energy in a research note on Wednesday, August 20th. They set a "buy" rating and a $308.00 target price for the company. BMO Capital Markets increased 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, Citigroup increased their price objective on shares of NRG Energy from $133.00 to $185.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, NRG Energy has an average rating of "Moderate Buy" and an average target price of $186.92.

NRG Energy Stock Down 0.3%

NRG Energy stock opened at $164.16 on Friday. The firm has a market capitalization of $31.75 billion, a P/E ratio of 74.28, a P/E/G ratio of 1.34 and a beta of 1.17. 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 twelve month low of $79.57 and a twelve month high of $175.96. The stock's fifty day simple moving average is $154.17 and its 200-day simple moving average is $135.29.

NRG Energy (NYSE:NRG - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $1.68 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $6.63 billion. During the same quarter last year, the company earned $3.37 EPS. NRG Energy's revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities analysts expect that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors 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 1.1%. The ex-dividend date was Friday, August 1st. NRG Energy's dividend payout ratio is presently 79.64%.

Insider Activity at NRG Energy

In other NRG Energy news, VP Dak Liyanearachchi sold 10,672 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $155.00, for a total value of $1,654,160.00. Following the sale, the vice president directly owned 48,571 shares of the company's stock, valued at approximately $7,528,505. This represents a 18.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 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.

Want to see what other hedge funds are holding NRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NRG Energy, Inc. (NYSE:NRG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.