Sagefield Capital LP Purchases Shares of 15,999 NRG Energy, Inc. (NYSE:NRG)

Sagefield Capital LP acquired a new position in NRG Energy, Inc. (NYSE:NRG) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 15,999 shares of the utilities provider’s stock, valued at approximately $1,246,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of NRG. Lombard Odier Asset Management USA Corp purchased a new position in NRG Energy during the 2nd quarter worth approximately $717,000. Public Sector Pension Investment Board raised its holdings in shares of NRG Energy by 38.0% during the second quarter. Public Sector Pension Investment Board now owns 35,365 shares of the utilities provider’s stock worth $2,754,000 after purchasing an additional 9,736 shares during the last quarter. Hood River Capital Management LLC acquired a new position in NRG Energy during the second quarter valued at $3,855,000. EverSource Wealth Advisors LLC boosted its holdings in NRG Energy by 553.3% in the second quarter. EverSource Wealth Advisors LLC now owns 2,195 shares of the utilities provider’s stock valued at $165,000 after purchasing an additional 1,859 shares during the last quarter. Finally, 1832 Asset Management L.P. acquired a new stake in NRG Energy during the 2nd quarter worth about $2,230,000. Institutional investors and hedge funds own 97.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NRG. Morgan Stanley boosted their price objective on NRG Energy from $70.00 to $83.00 and gave the company an “equal weight” rating in a report on Tuesday, May 28th. Jefferies Financial Group initiated coverage on NRG Energy in a report on Friday, September 13th. They issued a “hold” rating and a $82.00 price target for the company. StockNews.com cut shares of NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Finally, Wells Fargo & Company boosted their target price on shares of 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 given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $73.75.

NRG Energy Price Performance

NRG Energy stock opened at $88.00 on Tuesday. The stock has a market capitalization of $18.35 billion, a P/E ratio of 12.46 and a beta of 1.10. The company’s fifty day moving average price is $78.85 and its 200 day moving average price is $76.72. 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, Inc. has a 1 year low of $36.61 and a 1 year high of $90.57.

NRG Energy (NYSE:NRG) last announced its earnings results on Thursday, August 8th. The utilities provider reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $1.82. The business had revenue of $6.66 billion for the quarter, compared to analyst estimates of $8.32 billion. NRG Energy had a net margin of 7.19% and a return on equity of 43.69%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.10 earnings per share. As a group, equities research analysts anticipate that NRG Energy, Inc. will post 4.45 earnings per share for the current fiscal 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 issued 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 1.85%. NRG Energy’s payout ratio is currently 23.09%.

Insider Activity

In related 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 sale, 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 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.