NRG Energy, Inc. (NYSE:NRG) Shares Purchased by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC raised its position in NRG Energy, Inc. (NYSE:NRG) by 8.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 9,870 shares of the utilities provider’s stock after purchasing an additional 759 shares during the period. Sierra Summit Advisors LLC’s holdings in NRG Energy were worth $768,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NRG. Massachusetts Financial Services Co. MA boosted its position in shares of NRG Energy by 16.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 182,569 shares of the utilities provider’s stock worth $14,215,000 after buying an additional 25,563 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in shares of NRG Energy in the second quarter valued at approximately $745,000. J.W. Cole Advisors Inc. increased its stake in shares of NRG Energy by 8.0% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 5,612 shares of the utilities provider’s stock worth $437,000 after purchasing an additional 414 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of NRG Energy by 17.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 109,468 shares of the utilities provider’s stock worth $8,523,000 after purchasing an additional 16,274 shares during the last quarter. Finally, Pinkerton Retirement Specialists LLC lifted its stake in NRG Energy by 201.2% in the 2nd quarter. Pinkerton Retirement Specialists LLC now owns 10,606 shares of the utilities provider’s stock valued at $826,000 after buying an additional 7,085 shares in the last quarter. Hedge funds and other institutional investors own 97.72% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on NRG. Wells Fargo & Company raised their price target on NRG Energy from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. StockNews.com lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Morgan Stanley lifted their price target on shares of NRG Energy from $70.00 to $83.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 28th. Finally, Jefferies Financial Group assumed coverage on shares of NRG Energy in a research note on Friday. They set a “hold” rating and a $82.00 price objective on the stock. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, NRG Energy currently has a consensus rating of “Hold” and a consensus target price of $73.75.

NRG Energy Stock Performance

NYSE:NRG opened at $81.04 on Monday. The company has a market cap of $16.89 billion, a P/E ratio of 11.48 and a beta of 1.10. The firm’s 50 day moving average is $78.27 and its two-hundred day moving average is $75.67. NRG Energy, Inc. has a fifty-two week low of $36.61 and a fifty-two week high of $87.58. 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 (NYSE:NRG) last issued its earnings results on Thursday, August 8th. The utilities provider reported $3.37 earnings per share for the quarter, topping the consensus estimate of $1.55 by $1.82. The business had revenue of $6.66 billion for the quarter, compared to analyst estimates of $8.32 billion. NRG Energy had a return on equity of 43.69% and a net margin of 7.19%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the company posted $1.10 EPS. Analysts expect that NRG Energy, Inc. will post 4.45 EPS for the current year.

NRG Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were issued a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Thursday, August 1st. NRG Energy’s payout ratio is currently 23.09%.

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.