West Michigan Advisors LLC Invests $378,000 in NRG Energy, Inc. $NRG

Key Points

• West Michigan Advisors LLC has invested approximately $378,000 in NRG Energy, acquiring 2,357 shares during the 2nd quarter. This is part of a trend where several institutional investors have also increased their stakes in the company.
• NRG Energy reported earnings of $1.68 per share for the most recent quarter, which fell short of analysts' expectations, despite a revenue increase to $6.74 billion.
• The company declared a quarterly dividend of $0.44, with a dividend yield of 1.0%, scheduled for payment on November 17th to shareholders of record on November 3rd.

West Michigan Advisors LLC bought a new position in NRG Energy, Inc. (NYSE:NRG - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,357 shares of the utilities provider's stock, valued at approximately $378,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. GW&K Investment Management LLC grew its position in shares of NRG Energy by 23.8% during 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 last quarter. Envestnet Asset Management Inc. grew its position in shares of NRG Energy by 99.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 413,911 shares of the utilities provider's stock valued at $39,512,000 after buying an additional 206,096 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of NRG Energy by 28.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 16,815 shares of the utilities provider's stock valued at $1,605,000 after buying an additional 3,721 shares during the last quarter. Spire Wealth Management grew its position in shares of NRG Energy by 55.1% during the 1st quarter. Spire Wealth Management now owns 4,391 shares of the utilities provider's stock valued at $419,000 after buying an additional 1,560 shares during the last quarter. Finally, J.W. Cole Advisors Inc. grew its position in shares of NRG Energy by 32.7% during the 1st quarter. J.W. Cole Advisors Inc. now owns 10,082 shares of the utilities provider's stock valued at $962,000 after buying an additional 2,484 shares during the last quarter. Institutional investors own 97.72% of the company's stock.

NRG Energy Stock Up 3.1%

NRG stock opened at $168.96 on Friday. NRG Energy, Inc. has a 12 month low of $79.57 and a 12 month high of $175.96. The firm has a market cap of $32.68 billion, a PE ratio of 76.00 and a beta of 1.14. The firm has a 50 day simple moving average of $158.80 and a 200 day simple moving average of $147.51. The company has a debt-to-equity ratio of 5.99, a current ratio of 0.93 and a quick ratio of 0.88.

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

NRG Energy Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Monday, November 3rd. NRG Energy's dividend payout ratio is 79.64%.

Wall Street Analyst Weigh In

Several research firms have commented on NRG. Melius began coverage on shares of NRG Energy in a research report on Wednesday, August 20th. They issued a "buy" rating and a $308.00 target price for the company. Citigroup upped their target price 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. Melius Research initiated coverage on shares of NRG Energy in a research note on Wednesday, August 20th. They issued a "buy" rating and a $308.00 price target for the company. Zacks Research raised shares of NRG Energy from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 15th. Finally, Morgan Stanley set a $145.00 price target on shares of NRG Energy and gave the stock an "outperform" rating in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $197.46.

Insider Activity at NRG Energy

In related news, VP Dak Liyanearachchi sold 10,672 shares of the company's 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 completion of the sale, the vice president owned 48,571 shares in the company, valued at approximately $7,528,505. This represents a 18.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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.

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