Freedom Investment Management Inc. Has $1.76 Million Position in NRG Energy, Inc. $NRG

Freedom Investment Management Inc. grew its stake in shares of NRG Energy, Inc. (NYSE:NRG) by 113.5% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 10,928 shares of the utilities provider’s stock after buying an additional 5,810 shares during the period. Freedom Investment Management Inc.’s holdings in NRG Energy were worth $1,755,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in NRG. Toth Financial Advisory Corp acquired a new position in NRG Energy in the second quarter worth about $27,000. Zions Bancorporation National Association UT acquired a new position in NRG Energy in the first quarter worth about $28,000. Key Financial Inc acquired a new position in NRG Energy in the first quarter worth about $30,000. Evermay Wealth Management LLC acquired a new position in NRG Energy in the first quarter worth about $36,000. Finally, Kiker Wealth Management LLC acquired a new position in NRG Energy in the second quarter worth about $37,000. Institutional investors and hedge funds own 97.72% of the company’s stock.

Insider Activity at NRG Energy

In other 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 transaction of $1,654,160.00. Following the sale, the vice president directly owned 48,571 shares of the company’s stock, valued at $7,528,505. This represents a 18.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.86% of the stock is owned by company insiders.

NRG Energy Price Performance

Shares of NRG Energy stock opened at $160.17 on Thursday. 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 capitalization of $30.98 billion, a price-to-earnings ratio of 72.47 and a beta of 1.14. NRG Energy, Inc. has a 1-year low of $79.57 and a 1-year high of $175.96. The firm’s 50-day moving average price is $158.62 and its two-hundred day moving average price is $146.98.

NRG Energy (NYSE:NRG) last issued its quarterly earnings data 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 firm had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.63 billion. During the same period in the prior year, the company posted $3.37 earnings per share. NRG Energy’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, equities analysts predict that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 3rd will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend 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 79.64%.

Analyst Ratings Changes

Several research analysts recently issued reports on NRG shares. Scotiabank started coverage on shares of NRG Energy in a research report on Monday, September 22nd. They issued a “sector outperform” rating and a $212.00 price target for the company. Citigroup increased their price target 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. Zacks Research raised shares of NRG Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 15th. Melius began coverage on shares of NRG Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $308.00 price objective on the stock. Finally, Melius Research began coverage on shares of NRG Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $308.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $197.46.

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.