Jennison Associates LLC Acquires 246,741 Shares of NRG Energy, Inc. $NRG

Jennison Associates LLC grew its holdings in NRG Energy, Inc. (NYSE:NRG) by 87.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 529,556 shares of the utilities provider’s stock after acquiring an additional 246,741 shares during the period. Jennison Associates LLC owned 0.27% of NRG Energy worth $85,036,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Donald L. Hagan LLC raised its position in NRG Energy by 2.0% in the second quarter. Donald L. Hagan LLC now owns 3,384 shares of the utilities provider’s stock worth $543,000 after acquiring an additional 66 shares during the period. Horizon Investments LLC raised its position in NRG Energy by 3.0% in the first quarter. Horizon Investments LLC now owns 2,908 shares of the utilities provider’s stock worth $276,000 after acquiring an additional 86 shares during the period. Mather Group LLC. raised its position in NRG Energy by 12.1% in the first quarter. Mather Group LLC. now owns 900 shares of the utilities provider’s stock worth $86,000 after acquiring an additional 97 shares during the period. Cullen Frost Bankers Inc. raised its position in NRG Energy by 13.0% in the first quarter. Cullen Frost Bankers Inc. now owns 904 shares of the utilities provider’s stock worth $86,000 after acquiring an additional 104 shares during the period. Finally, Private Trust Co. NA increased its stake in shares of NRG Energy by 8.7% in the first quarter. Private Trust Co. NA now owns 1,482 shares of the utilities provider’s stock worth $141,000 after purchasing an additional 119 shares in the last quarter. 97.72% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, VP Dak Liyanearachchi sold 10,672 shares of the firm’s 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 transaction, the vice president directly owned 48,571 shares of the company’s stock, valued at approximately $7,528,505. This trade represents a 18.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.86% of the company’s stock.

NRG Energy Stock Performance

NRG opened at $178.08 on Thursday. The stock has a market capitalization of $34.45 billion, a price-to-earnings ratio of 80.58 and a beta of 1.14. The company has a fifty day moving average of $160.78 and a 200 day moving average of $150.55. NRG Energy, Inc. has a fifty-two week low of $79.57 and a fifty-two week high of $180.54. The company has a debt-to-equity ratio of 5.99, a quick ratio of 0.88 and a current ratio of 0.93.

NRG Energy (NYSE:NRG) last posted its 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). The company had revenue of $6.74 billion for 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 business’s revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $3.37 earnings per share. As a group, sell-side analysts forecast 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 paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Monday, November 3rd. NRG Energy’s dividend payout ratio (DPR) is presently 79.64%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NRG. Scotiabank began coverage on shares of NRG Energy in a research note on Monday, September 22nd. They issued a “sector outperform” rating and a $212.00 price objective for the company. Jefferies Financial Group reissued a “buy” rating and issued a $198.00 price objective on shares of NRG Energy in a research note on Monday, October 20th. Barclays increased their price objective on shares of NRG Energy from $197.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Wall Street Zen cut shares of NRG Energy from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. 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 note on Thursday, July 17th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $197.54.

NRG Energy Company 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.