VIRGINIA RETIREMENT SYSTEMS ET Al Invests $10.20 Million in NRG Energy, Inc. $NRG

Key Points

• The Virginia Retirement Systems invested approximately $10.20 million in NRG Energy, Inc., purchasing 63,500 shares during the second quarter.
• NRG Energy plans to pay a quarterly dividend of $0.44 on November 17th, reflecting an annualized dividend yield of 1.1%.
• Analysts have mixed ratings on NRG Energy, with two analysts giving it a Strong Buy rating and a consensus moderate buy rating with an average price target of $193.92.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 63,500 shares of the utilities provider's stock, valued at approximately $10,197,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Foster & Motley Inc. lifted its holdings in NRG Energy by 36.2% during the 2nd quarter. Foster & Motley Inc. now owns 15,710 shares of the utilities provider's stock worth $2,523,000 after buying an additional 4,178 shares in the last quarter. BXM Wealth LLC acquired a new stake in NRG Energy during the 2nd quarter worth approximately $245,000. Private Trust Co. NA lifted its holdings in NRG Energy by 85.0% during the 2nd quarter. Private Trust Co. NA now owns 2,742 shares of the utilities provider's stock worth $440,000 after buying an additional 1,260 shares in the last quarter. Nordea Investment Management AB lifted its holdings in NRG Energy by 2.7% during the 2nd quarter. Nordea Investment Management AB now owns 10,736 shares of the utilities provider's stock worth $1,733,000 after buying an additional 279 shares in the last quarter. Finally, New York State Teachers Retirement System lifted its holdings in NRG Energy by 5.6% during the 2nd quarter. New York State Teachers Retirement System now owns 210,922 shares of the utilities provider's stock worth $33,870,000 after buying an additional 11,173 shares in the last quarter. 97.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NRG Energy

In related news, VP Dak Liyanearachchi sold 10,672 shares of the stock in a transaction 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 transaction, the vice president directly owned 48,571 shares of the company's stock, valued at $7,528,505. This trade represents a 18.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.61% of the stock is owned by company insiders.

NRG Energy Trading Down 1.0%

NYSE NRG opened at $167.01 on Tuesday. The company has a debt-to-equity ratio of 5.99, a current ratio of 0.93 and a quick ratio of 0.88. The firm's fifty day moving average price is $158.38 and its 200 day moving average price is $146.78. The company has a market capitalization of $32.31 billion, a price-to-earnings ratio of 75.57 and a beta of 1.14. NRG Energy, Inc. has a 12 month low of $79.57 and a 12 month high of $175.96.

NRG Energy (NYSE:NRG - Get Free Report) last posted its earnings results on Wednesday, August 6th. The utilities provider reported $1.68 EPS for the quarter, missing analysts' consensus estimates of $1.72 by ($0.04). The company had revenue of $6.74 billion during the quarter, compared to analysts' expectations of $6.63 billion. NRG Energy had a net margin of 1.78% and a return on equity of 88.22%. The company's quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the business earned $3.37 earnings per share. On average, sell-side analysts expect that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, November 3rd will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, November 3rd. NRG Energy's dividend payout ratio (DPR) is 79.64%.

Analyst Upgrades and Downgrades

NRG has been the topic of a number of research reports. Melius initiated coverage on shares of NRG Energy in a report on Wednesday, August 20th. They set a "buy" rating and a $308.00 target price on the stock. BMO Capital Markets raised their price objective on shares of NRG Energy from $167.00 to $185.00 and gave the company a "market perform" rating in a report on Wednesday, August 6th. Wall Street Zen lowered shares of NRG Energy from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Citigroup raised their price objective on shares of NRG Energy from $133.00 to $185.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Finally, Melius Research initiated 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. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $193.92.

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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