NRG Energy, Inc. $NRG Stake Boosted by Prudential PLC

Prudential PLC grew its holdings in shares of NRG Energy, Inc. (NYSE:NRG) by 99.6% during the second quarter, Holdings Channel reports. The firm owned 5,998 shares of the utilities provider’s stock after purchasing an additional 2,993 shares during the period. Prudential PLC’s holdings in NRG Energy were worth $963,000 as of its most recent SEC filing.

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

Insider Buying and Selling at NRG Energy

In related news, VP Virginia Kinney sold 20,000 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $163.82, for a total transaction of $3,276,400.00. Following the transaction, the vice president directly owned 43,191 shares of the company’s stock, valued at approximately $7,075,549.62. This trade represents a 31.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Dak Liyanearachchi sold 10,672 shares of the business’s stock in a transaction that occurred on Wednesday, September 10th. The stock was 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 owned 48,571 shares of the company’s stock, valued at approximately $7,528,505. The trade was a 18.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.86% of the stock is currently owned by insiders.

NRG Energy Stock Performance

Shares of NRG Energy stock opened at $159.21 on Monday. The firm has a market capitalization of $30.51 billion, a P/E ratio of 72.04 and a beta of 1.16. The business’s fifty day simple moving average is $166.95 and its 200 day simple moving average is $158.26. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 5.99. NRG Energy, Inc. has a 12 month low of $79.57 and a 12 month high of $180.54.

NRG Energy (NYSE:NRG) last issued its quarterly earnings results on Thursday, November 6th. The utilities provider reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.85. The firm had revenue of $7.64 billion for the quarter, compared to analysts’ expectations of $7.53 billion. NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.90 EPS. As a group, analysts anticipate that NRG Energy, Inc. will post 6.36 EPS for the current year.

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

NRG Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, November 3rd were given a dividend of $0.44 per share. The ex-dividend date was Monday, November 3rd. This represents a $1.76 annualized dividend and a yield of 1.1%. NRG Energy’s payout ratio is presently 26.31%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NRG. Morgan Stanley reiterated an “underperform” rating on shares of NRG Energy in a report on Thursday. Barclays raised their target price on shares of NRG Energy from $197.00 to $203.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Jefferies Financial Group reiterated a “buy” rating and issued a $198.00 price target on shares of NRG Energy in a research note on Monday, October 20th. Melius assumed coverage on NRG Energy in a report on Wednesday, August 20th. They set a “buy” rating and a $308.00 price target on the stock. Finally, BMO Capital Markets raised their price target on shares of NRG Energy from $185.00 to $195.00 and gave the stock a “market perform” rating in a report on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $198.31.

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.