Pinnbrook Capital Management LP Makes New $10.26 Million Investment in NRG Energy, Inc. $NRG

Pinnbrook Capital Management LP acquired a new stake in NRG Energy, Inc. (NYSE:NRG) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 63,875 shares of the utilities provider’s stock, valued at approximately $10,257,000. NRG Energy comprises about 1.2% of Pinnbrook Capital Management LP’s holdings, making the stock its 24th largest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in NRG Energy by 3.5% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 47,950 shares of the utilities provider’s stock valued at $7,700,000 after purchasing an additional 1,626 shares during the last quarter. Financial Life Planners raised its position in shares of NRG Energy by 18.8% in the second quarter. Financial Life Planners now owns 2,806 shares of the utilities provider’s stock valued at $451,000 after purchasing an additional 444 shares during the period. Credit Capital Investments LLC bought a new position in shares of NRG Energy in the second quarter valued at about $257,000. Geode Capital Management LLC lifted its stake in shares of NRG Energy by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 5,411,045 shares of the utilities provider’s stock worth $865,437,000 after buying an additional 39,253 shares during the last quarter. Finally, denkapparat Operations GmbH boosted its holdings in shares of NRG Energy by 74.3% during the 2nd quarter. denkapparat Operations GmbH now owns 4,950 shares of the utilities provider’s stock worth $795,000 after buying an additional 2,110 shares during the period. 97.72% of the stock is currently owned by institutional investors.

NRG Energy Price Performance

NRG Energy stock opened at $165.07 on Friday. The firm has a market cap of $31.63 billion, a PE ratio of 74.69 and a beta of 1.16. The company has a debt-to-equity ratio of 5.99, a current ratio of 0.93 and a quick ratio of 0.88. The stock’s fifty day moving average price is $166.26 and its two-hundred day moving average price is $155.94. NRG Energy, Inc. has a one year low of $79.57 and a one year high of $180.54.

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

NRG Energy declared that its Board of Directors has approved a stock repurchase plan on Thursday, November 6th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the utilities provider to repurchase up to 9.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

NRG Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, November 3rd will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, November 3rd. NRG Energy’s dividend payout ratio (DPR) is currently 26.31%.

Insider Activity at NRG Energy

In other 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 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. This represents a 18.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NRG shares. Wells Fargo & Company raised shares of NRG Energy to a “strong-buy” rating in a report on Tuesday, October 28th. Barclays increased their target price on NRG Energy from $197.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Melius started coverage on NRG Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $308.00 price target for the company. Morgan Stanley lowered their price objective on NRG Energy from $145.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 28th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $198.00 target price on shares of NRG Energy in a research report on Monday, October 20th. Three analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $198.31.

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.