Amalgamated Bank Boosts Position in NRG Energy, Inc. (NYSE:NRG)

Amalgamated Bank boosted its holdings in NRG Energy, Inc. (NYSE:NRG) by 1.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,125 shares of the utilities provider’s stock after purchasing an additional 725 shares during the quarter. Amalgamated Bank’s holdings in NRG Energy were worth $4,020,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NRG. Rothschild Investment LLC purchased a new position in shares of NRG Energy in the 2nd quarter valued at $32,000. First Horizon Advisors Inc. boosted its stake in NRG Energy by 76.1% in the second quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 191 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of NRG Energy during the third quarter worth about $35,000. Crewe Advisors LLC acquired a new stake in shares of NRG Energy during the first quarter worth about $36,000. Finally, Innealta Capital LLC purchased a new stake in shares of NRG Energy in the 2nd quarter valued at about $36,000. Institutional investors and hedge funds own 97.72% of the company’s stock.

NRG Energy Trading Down 0.4 %

NYSE NRG opened at $95.99 on Friday. NRG Energy, Inc. has a 52-week low of $44.90 and a 52-week high of $102.84. The firm has a 50-day moving average price of $87.21 and a 200 day moving average price of $81.68. The stock has a market capitalization of $19.81 billion, a P/E ratio of 10.46, a P/E/G ratio of 1.36 and a beta of 1.10. 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 posted its quarterly earnings results on Thursday, August 8th. The utilities provider reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $8.32 billion. During the same period in the previous year, the business earned $1.10 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities research analysts expect that NRG Energy, Inc. will post 6.29 EPS for the current year.

NRG Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a $0.4075 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.63 dividend on an annualized basis and a dividend yield of 1.70%. NRG Energy’s dividend payout ratio is presently 17.76%.

Wall Street Analysts Forecast Growth

NRG has been the topic of several research analyst reports. Citigroup lifted their price target on NRG Energy from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Jefferies Financial Group started 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. BMO Capital Markets raised their price objective on shares of NRG Energy from $90.00 to $94.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Wells Fargo & Company upped their target price on shares of NRG Energy from $120.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Guggenheim raised their price target on NRG Energy from $77.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $96.00.

Insider Activity at NRG Energy

In other NRG Energy news, insider Rasesh M. Patel sold 102,603 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $80.35, for a total value of $8,244,151.05. Following the completion of the transaction, the insider now directly 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.86% of the company’s stock.

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.