NRG Energy, Inc. (NYSE:NRG) Insider Rasesh M. Patel Sells 102,603 Shares

NRG Energy, Inc. (NYSE:NRG) insider Rasesh M. Patel sold 102,603 shares of the firm’s 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 transaction, the insider now owns 163,680 shares of the company’s stock, valued at approximately $13,151,688. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

NRG Energy Trading Up 0.8 %

NRG opened at $81.95 on Thursday. The stock has a market cap of $17.08 billion, a price-to-earnings ratio of 11.61 and a beta of 1.10. The stock’s 50 day moving average price is $78.36 and its 200-day moving average price is $76.03. NRG Energy, Inc. has a one year low of $36.61 and a one year high of $87.58. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.11 and a current ratio of 1.18.

NRG Energy (NYSE:NRG) last released its earnings results on Thursday, August 8th. The utilities provider reported $3.37 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 company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.10 earnings per share. On average, equities analysts forecast that NRG Energy, Inc. will post 4.45 EPS for the current year.

NRG Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were paid a dividend of $0.4075 per share. The ex-dividend date was Thursday, August 1st. This represents a $1.63 dividend on an annualized basis and a dividend yield of 1.99%. NRG Energy’s dividend payout ratio is 23.09%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rothschild Investment LLC bought a new position in NRG Energy in the second quarter worth approximately $32,000. First Horizon Advisors Inc. grew 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 worth $34,000 after purchasing an additional 191 shares in the last quarter. LifeSteps Financial Inc. bought a new position in NRG Energy in the first quarter worth approximately $31,000. Innealta Capital LLC bought a new position in NRG Energy in the second quarter worth approximately $36,000. Finally, Mather Group LLC. bought a new position in NRG Energy in the first quarter worth approximately $33,000. Institutional investors own 97.72% of the company’s stock.

Analyst Upgrades and Downgrades

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

About NRG Energy

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.