NRG Energy, Inc. (NYSE:NRG) Shares Acquired by Spirit of America Management Corp NY

Spirit of America Management Corp NY grew its holdings in NRG Energy, Inc. (NYSE:NRG) by 100.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,000 shares of the utilities provider’s stock after purchasing an additional 500 shares during the period. Spirit of America Management Corp NY’s holdings in NRG Energy were worth $91,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its holdings 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 worth $16,073,000 after purchasing an additional 213,347 shares during the period. Quadrature Capital Ltd increased its holdings in NRG Energy by 148.6% during the 1st quarter. Quadrature Capital Ltd now owns 21,814 shares of the utilities provider’s stock worth $1,477,000 after purchasing an additional 13,040 shares during the period. Cetera Investment Advisers increased its holdings in NRG Energy by 104.5% during the 1st quarter. Cetera Investment Advisers now owns 73,865 shares of the utilities provider’s stock worth $5,000,000 after purchasing an additional 37,750 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of NRG Energy by 65.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,596,684 shares of the utilities provider’s stock valued at $124,318,000 after acquiring an additional 633,765 shares during the last quarter. Finally, Friedenthal Financial purchased a new position in shares of NRG Energy in the 2nd quarter valued at about $746,000. Hedge funds and other institutional investors own 97.72% of the company’s stock.

NRG Energy Stock Performance

NYSE NRG opened at $87.52 on Friday. NRG Energy, Inc. has a 1-year low of $41.49 and a 1-year high of $96.40. The company has a market capitalization of $18.25 billion, a P/E ratio of 12.40 and a beta of 1.10. The business has a 50 day moving average price of $85.63 and a 200 day moving average price of $80.43. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.18 and a quick ratio of 1.11.

NRG Energy (NYSE:NRG) last released its quarterly earnings data 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 firm had revenue of $6.66 billion during the quarter, compared to the consensus estimate of $8.32 billion. During the same period last year, the business posted $1.10 EPS. NRG Energy’s quarterly revenue was up 4.9% on a year-over-year basis. Sell-side analysts expect that NRG Energy, Inc. will post 5.51 EPS for the current fiscal year.

NRG Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a yield of 1.86%. The ex-dividend date is Friday, November 1st. NRG Energy’s payout ratio is 23.09%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NRG shares. Guggenheim increased their price objective on NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. 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. 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 research note on Thursday, September 5th. BMO Capital Markets increased 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. Finally, StockNews.com downgraded NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, NRG Energy presently has an average rating of “Hold” and a consensus target price of $83.25.

Insiders Place Their Bets

In other NRG Energy news, insider Rasesh M. Patel sold 102,603 shares of the firm’s stock in a transaction 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 owns 163,680 shares of the company’s stock, valued at approximately $13,151,688. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.86% of the stock is currently owned by company insiders.

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.