Intech Investment Management LLC Boosts Holdings in NRG Energy, Inc. (NYSE:NRG)

Intech Investment Management LLC increased its position in NRG Energy, Inc. (NYSE:NRG) by 218.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 97,992 shares of the utilities provider’s stock after purchasing an additional 67,258 shares during the quarter. Intech Investment Management LLC’s holdings in NRG Energy were worth $7,630,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Gotham Asset Management LLC grew its stake in shares of NRG Energy by 93.1% during the fourth quarter. Gotham Asset Management LLC now owns 357,618 shares of the utilities provider’s stock valued at $18,489,000 after acquiring an additional 172,400 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in NRG Energy by 885.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 237,444 shares of the utilities provider’s stock valued at $16,073,000 after purchasing an additional 213,347 shares in the last quarter. Franklin Resources Inc. increased its holdings in NRG Energy by 156.4% during the 4th quarter. Franklin Resources Inc. now owns 269,749 shares of the utilities provider’s stock worth $13,946,000 after purchasing an additional 164,543 shares during the last quarter. Quarry LP raised its position in shares of NRG Energy by 784.3% in the 4th quarter. Quarry LP now owns 10,912 shares of the utilities provider’s stock valued at $564,000 after purchasing an additional 9,678 shares in the last quarter. Finally, Quadrature Capital Ltd boosted its stake in shares of NRG Energy by 148.6% during the 1st 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. 97.72% of the stock is owned by institutional investors and hedge funds.

NRG Energy Stock Performance

Shares of NRG stock opened at $87.09 on Friday. The company has a market cap of $18.16 billion, a P/E ratio of 12.34 and a beta of 1.10. The business has a 50 day moving average of $78.46 and a two-hundred day moving average of $76.11. NRG Energy, Inc. has a 52 week low of $36.61 and a 52 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 quarterly earnings data on Thursday, August 8th. The utilities provider reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $1.82. The firm had revenue of $6.66 billion during the quarter, compared to the consensus estimate of $8.32 billion. NRG Energy had a return on equity of 43.69% and a net margin of 7.19%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.10 EPS. As a group, analysts anticipate 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. Shareholders of record on Thursday, August 1st were paid a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Thursday, August 1st. NRG Energy’s payout ratio is 23.09%.

Insider Buying and Selling at NRG Energy

In other news, insider Rasesh M. Patel sold 102,603 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was 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 $13,151,688. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.86% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Morgan Stanley upped their price target on shares of NRG Energy from $70.00 to $83.00 and gave the company an “equal weight” rating in a report on Tuesday, May 28th. StockNews.com lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Jefferies Financial Group began coverage on NRG Energy in a research note on Friday, September 13th. They issued a “hold” rating and a $82.00 price target for the company. Finally, Wells Fargo & Company upped their price objective on NRG Energy from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, NRG Energy currently has a consensus rating of “Hold” and a consensus target price of $73.75.

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.