Galvin Gaustad & Stein LLC Invests $203,000 in NRG Energy, Inc. (NYSE:NRG)

Galvin Gaustad & Stein LLC bought a new stake in NRG Energy, Inc. (NYSE:NRG) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,229 shares of the utilities provider’s stock, valued at approximately $203,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Quadrature Capital Ltd raised its holdings in shares of NRG Energy by 148.6% in the first quarter. Quadrature Capital Ltd now owns 21,814 shares of the utilities provider’s stock valued at $1,477,000 after buying an additional 13,040 shares during the last quarter. Cetera Investment Advisers raised its stake in NRG Energy by 104.5% during the 1st quarter. Cetera Investment Advisers now owns 73,865 shares of the utilities provider’s stock valued at $5,000,000 after acquiring an additional 37,750 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in NRG Energy by 65.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,596,684 shares of the utilities provider’s stock worth $124,318,000 after acquiring an additional 633,765 shares during the period. Friedenthal Financial purchased a new position in shares of NRG Energy in the 2nd quarter valued at approximately $746,000. Finally, State Board of Administration of Florida Retirement System grew its stake in shares of NRG Energy by 2.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 288,619 shares of the utilities provider’s stock valued at $19,537,000 after purchasing an additional 7,880 shares during the last quarter. Hedge funds and other institutional investors own 97.72% of the company’s stock.

Insider Activity

In other NRG Energy news, insider Rasesh M. Patel sold 102,603 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $80.35, for a total transaction of $8,244,151.05. Following the completion of the transaction, the insider now directly owns 163,680 shares in the company, valued at approximately $13,151,688. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NRG shares. BMO Capital Markets increased their price target on NRG Energy from $90.00 to $94.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Citigroup upped their price objective on shares of NRG Energy from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Guggenheim lifted their target price on shares of NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Wells Fargo & Company increased their price target on shares of NRG Energy from $120.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group began coverage on NRG Energy in a report on Friday, September 13th. They issued a “hold” rating and a $82.00 price objective on the stock. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $96.00.

NRG Energy Stock Down 0.3 %

NRG stock opened at $96.14 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.11 and a debt-to-equity ratio of 3.51. The company’s 50-day moving average price is $87.21 and its 200 day moving average price is $81.75. NRG Energy, Inc. has a 52 week low of $44.90 and a 52 week high of $102.84. The company has a market cap of $19.84 billion, a P/E ratio of 10.47, a P/E/G ratio of 1.36 and a beta of 1.10.

NRG Energy (NYSE:NRG) last announced its quarterly earnings results on Thursday, August 8th. The utilities provider reported $3.37 EPS for the quarter, topping 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 business had revenue of $6.66 billion for the quarter, compared to analyst estimates of $8.32 billion. During the same quarter in the previous year, the company earned $1.10 EPS. The company’s quarterly revenue was up 4.9% on a year-over-year basis. On average, research analysts expect that NRG Energy, Inc. will post 6.29 earnings per share for the current fiscal year.

NRG Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a $0.4075 dividend. This represents a $1.63 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Friday, November 1st. NRG Energy’s dividend payout ratio (DPR) is 17.76%.

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.