Public Sector Pension Investment Board Has $2.75 Million Holdings in NRG Energy, Inc. (NYSE:NRG)

Public Sector Pension Investment Board lifted its position in shares of NRG Energy, Inc. (NYSE:NRG) by 38.0% during the second quarter, Holdings Channel.com reports. The firm owned 35,365 shares of the utilities provider’s stock after buying an additional 9,736 shares during the quarter. Public Sector Pension Investment Board’s holdings in NRG Energy were worth $2,754,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in NRG. Hood River Capital Management LLC bought a new position in NRG Energy during the 2nd quarter worth $3,855,000. EverSource Wealth Advisors LLC increased its position in NRG Energy by 553.3% during the second quarter. EverSource Wealth Advisors LLC now owns 2,195 shares of the utilities provider’s stock worth $165,000 after acquiring an additional 1,859 shares during the period. 1832 Asset Management L.P. bought a new position in NRG Energy during the second quarter worth about $2,230,000. Mount Yale Investment Advisors LLC bought a new stake in NRG Energy in the 2nd quarter valued at about $281,000. Finally, Frank Rimerman Advisors LLC acquired a new position in shares of NRG Energy during the 2nd quarter worth approximately $3,022,000. 97.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NRG has been the subject of a number of analyst reports. Jefferies Financial Group assumed coverage on shares of NRG Energy in a research report on Friday, September 13th. They issued a “hold” rating and a $82.00 price target for the company. StockNews.com cut NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Finally, Wells Fargo & Company increased their target price on NRG Energy from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, NRG Energy currently has a consensus rating of “Hold” and a consensus price target of $73.75.

Insider Buying and Selling at NRG Energy

In other news, insider Rasesh M. Patel sold 102,603 shares of the company’s stock in a transaction on 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 $13,151,688. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.86% of the company’s stock.

NRG Energy Trading Up 0.7 %

Shares of NRG stock opened at $91.22 on Friday. NRG Energy, Inc. has a fifty-two week low of $36.61 and a fifty-two week high of $93.17. The stock’s fifty day moving average price is $80.08 and its two-hundred day moving average price is $77.41. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.11 and a current ratio of 1.18. The company has a market cap of $19.02 billion, a PE ratio of 12.92 and a beta of 1.10.

NRG Energy (NYSE:NRG) last released its earnings results on Thursday, August 8th. The utilities provider reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $1.82. The firm had revenue of $6.66 billion for the quarter, compared to analysts’ expectations of $8.32 billion. NRG Energy had a return on equity of 43.69% and a net margin of 7.19%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.10 earnings per share. Equities analysts predict that NRG Energy, Inc. will post 5.51 EPS for the current fiscal year.

NRG Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were paid a $0.4075 dividend. This represents a $1.63 annualized dividend and a yield of 1.79%. The ex-dividend date was Thursday, August 1st. NRG Energy’s payout ratio is 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.