NatWest Group plc Increases Stock Position in NRG Energy, Inc. (NYSE:NRG)

NatWest Group plc increased its position in shares of NRG Energy, Inc. (NYSE:NRG) by 9.1% during the 3rd quarter, Holdings Channel reports. The firm owned 79,202 shares of the utilities provider’s stock after purchasing an additional 6,618 shares during the quarter. NRG Energy makes up approximately 2.1% of NatWest Group plc’s holdings, making the stock its 23rd largest holding. NatWest Group plc’s holdings in NRG Energy were worth $7,215,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NRG. Rothschild Investment LLC bought a new stake in shares of NRG Energy during the 2nd quarter worth $32,000. Mather Group LLC. bought a new stake in NRG Energy in the first quarter worth about $33,000. First Horizon Advisors Inc. boosted its stake in NRG Energy by 76.1% in the second quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 191 shares during the last quarter. Crewe Advisors LLC bought a new position in shares of NRG Energy during the 1st quarter valued at approximately $36,000. Finally, Innealta Capital LLC bought a new position in shares of NRG Energy during the 2nd quarter valued at approximately $36,000. 97.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on NRG shares. BMO Capital Markets raised their target price on NRG Energy from $88.00 to $90.00 and gave the stock a “market perform” rating in a research note on Monday, September 30th. Guggenheim boosted their price objective on shares of NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Jefferies Financial Group started coverage on shares of NRG Energy in a research note on Friday, September 13th. They issued a “hold” rating and a $82.00 target price on the stock. StockNews.com lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Finally, Wells Fargo & Company increased their price objective on NRG Energy from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $83.25.

NRG Energy Price Performance

Shares of NYSE:NRG opened at $86.00 on Friday. The company’s fifty day moving average is $84.98 and its 200 day moving average is $79.77. The company has a quick ratio of 1.11, a current ratio of 1.18 and a debt-to-equity ratio of 3.51. NRG Energy, Inc. has a 52 week low of $40.10 and a 52 week high of $96.40. The stock has a market cap of $17.93 billion, a PE ratio of 12.18 and a beta of 1.10.

NRG Energy (NYSE:NRG) last issued its earnings results on Thursday, August 8th. The utilities provider reported $3.37 earnings per share for the quarter, beating the consensus estimate of $1.55 by $1.82. NRG Energy had a return on equity of 43.69% and a net margin of 7.19%. The company had revenue of $6.66 billion during the quarter, compared to analysts’ expectations of $8.32 billion. During the same period in the prior year, the business posted $1.10 EPS. NRG Energy’s quarterly revenue was up 4.9% compared to the same quarter last year. Research analysts anticipate that NRG Energy, Inc. will post 5.51 earnings per share for the current year.

NRG Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Friday, November 1st. NRG Energy’s payout ratio is 23.09%.

Insider Activity

In related news, insider Rasesh M. Patel sold 102,603 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $80.35, for a total value of $8,244,151.05. Following the sale, the insider now directly owns 163,680 shares of the company’s stock, valued at $13,151,688. This trade represents a 0.00 % 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. Insiders own 0.86% of the company’s stock.

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.