Central Asset Investments & Management Holdings HK Ltd Buys Shares of 7,050 NRG Energy, Inc. $NRG

Central Asset Investments & Management Holdings HK Ltd purchased a new stake in NRG Energy, Inc. (NYSE:NRG) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 7,050 shares of the utilities provider’s stock, valued at approximately $1,132,000. NRG Energy accounts for about 0.8% of Central Asset Investments & Management Holdings HK Ltd’s investment portfolio, making the stock its 24th biggest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. Toth Financial Advisory Corp acquired a new position in NRG Energy during the second quarter worth about $27,000. Zions Bancorporation National Association UT acquired a new stake in shares of NRG Energy in the 1st quarter valued at approximately $28,000. Bank of Jackson Hole Trust bought a new stake in shares of NRG Energy during the 2nd quarter valued at approximately $28,000. Fourth Dimension Wealth LLC acquired a new position in NRG Energy during the 2nd quarter worth approximately $32,000. Finally, Evermay Wealth Management LLC bought a new position in NRG Energy in the 1st quarter valued at approximately $36,000. 97.72% of the stock is currently owned by institutional investors.

NRG Energy Trading Down 2.4%

Shares of NRG stock opened at $162.66 on Wednesday. NRG Energy, Inc. has a 1-year low of $79.57 and a 1-year high of $180.54. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 5.99. The stock has a market cap of $31.46 billion, a price-to-earnings ratio of 73.60 and a beta of 1.16. The stock has a 50-day moving average of $165.11 and a 200-day moving average of $155.39.

NRG Energy (NYSE:NRG) last posted its quarterly earnings data on Thursday, November 6th. The utilities provider reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.85. NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.The company had revenue of $7.64 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same period in the previous year, the firm earned $1.90 earnings per share. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. On average, equities research analysts forecast that NRG Energy, Inc. will post 6.36 earnings per share for the current year.

NRG Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 3rd will be paid 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 is currently 26.31%.

NRG Energy announced that its Board of Directors has approved a share buyback plan on Thursday, November 6th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the utilities provider to buy up to 9.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Zacks Research upgraded shares of NRG Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. Melius began coverage on NRG Energy in a research report on Wednesday, August 20th. They set a “buy” rating and a $308.00 price objective on the stock. Scotiabank began coverage on NRG Energy in a research report on Monday, September 22nd. They issued a “sector outperform” rating and a $212.00 target price for the company. Weiss Ratings upgraded NRG Energy from a “hold (c)” rating to a “buy (b)” rating in a report on Friday. Finally, BMO Capital Markets upped their price objective on NRG Energy from $185.00 to $195.00 and gave the company a “market perform” rating in a research note on Friday, November 7th. Three investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $198.31.

Insider Buying and Selling at NRG Energy

In other 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 transaction of $1,654,160.00. Following the completion of the sale, the vice president directly owned 48,571 shares in the company, valued at $7,528,505. This represents a 18.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.86% of the stock is currently owned by company insiders.

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.