TD Waterhouse Canada Inc. Trims Position in NRG Energy, Inc. $NRG

TD Waterhouse Canada Inc. trimmed its holdings in shares of NRG Energy, Inc. (NYSE:NRG) by 11.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 8,296 shares of the utilities provider’s stock after selling 1,086 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in NRG Energy were worth $1,293,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in NRG. Renaissance Group LLC boosted its holdings in NRG Energy by 54.6% in the second quarter. Renaissance Group LLC now owns 5,813 shares of the utilities provider’s stock valued at $933,000 after purchasing an additional 2,052 shares during the last quarter. Inspire Advisors LLC boosted its stake in shares of NRG Energy by 286.7% in the second quarter. Inspire Advisors LLC now owns 11,946 shares of the utilities provider’s stock worth $1,918,000 after buying an additional 8,857 shares during the last quarter. United Advisor Group LLC acquired a new stake in NRG Energy during the second quarter worth about $415,000. Nomura Asset Management Co. Ltd. raised its position in NRG Energy by 6.7% during the second quarter. Nomura Asset Management Co. Ltd. now owns 66,808 shares of the utilities provider’s stock valued at $10,728,000 after acquiring an additional 4,166 shares in the last quarter. Finally, PAX Financial Group LLC purchased a new stake in NRG Energy in the 2nd quarter worth approximately $445,000. Hedge funds and other institutional investors own 97.72% of the company’s stock.

NRG Energy Trading Down 0.8%

Shares of NRG Energy stock opened at $159.21 on Friday. The firm has a market capitalization of $30.51 billion, a PE ratio of 72.04 and a beta of 1.16. NRG Energy, Inc. has a twelve month low of $79.57 and a twelve month high of $180.54. The firm’s 50-day moving average price is $166.95 and its 200 day moving average price is $157.98. 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 (NYSE:NRG) last posted its quarterly earnings data on Thursday, November 6th. The utilities provider reported $2.78 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $7.53 billion. During the same period in the previous year, the business earned $1.90 EPS. NRG Energy’s quarterly revenue was up 5.7% on a year-over-year basis. On average, sell-side analysts predict that NRG Energy, Inc. will post 6.36 EPS for the current fiscal year.

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

NRG Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 3rd were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Monday, November 3rd. NRG Energy’s dividend payout ratio is currently 26.31%.

Insiders Place Their Bets

In other NRG Energy news, VP Dak Liyanearachchi sold 10,672 shares of NRG Energy 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 sale, the vice president owned 48,571 shares of the company’s stock, valued at $7,528,505. The trade was a 18.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Virginia Kinney sold 20,000 shares of the company’s stock in a transaction on 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 sale, the vice president directly owned 43,191 shares of the company’s stock, valued at $7,075,549.62. The trade was a 31.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.86% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on NRG shares. Weiss Ratings reiterated a “buy (b)” rating on shares of NRG Energy in a research note on Wednesday. Scotiabank assumed 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 objective for the company. BMO Capital Markets increased their target price on shares of NRG Energy from $185.00 to $195.00 and gave the stock a “market perform” rating in a research note on Friday, November 7th. Melius Research initiated 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. Finally, Wall Street Zen downgraded NRG Energy from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $198.31.

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.