Point72 DIFC Ltd Acquires 102,157 Shares of NRG Energy, Inc. (NYSE:NRG)

Point72 DIFC Ltd boosted its holdings in shares of NRG Energy, Inc. (NYSE:NRG) by 326.3% in the second quarter, Holdings Channel reports. The firm owned 133,465 shares of the utilities provider’s stock after purchasing an additional 102,157 shares during the quarter. NRG Energy comprises about 0.4% of Point72 DIFC Ltd’s portfolio, making the stock its 26th biggest holding. Point72 DIFC Ltd’s holdings in NRG Energy were worth $10,392,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NRG. Banco Santander S.A. bought a new position in shares of NRG Energy in the second quarter valued at approximately $217,671,000. Capitolis Liquid Global Markets LLC raised its stake in shares of NRG Energy by 253.2% in the first quarter. Capitolis Liquid Global Markets LLC now owns 1,766,000 shares of the utilities provider’s stock valued at $119,541,000 after acquiring an additional 1,266,000 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of NRG Energy by 11.1% in the first quarter. Russell Investments Group Ltd. now owns 1,610,562 shares of the utilities provider’s stock valued at $109,007,000 after acquiring an additional 160,415 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of NRG Energy by 65.8% in the second 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, Zimmer Partners LP bought a new position in shares of NRG Energy in the first quarter valued at approximately $64,306,000. Institutional investors own 97.72% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on NRG shares. Morgan Stanley lifted their target price on shares of NRG Energy from $70.00 to $83.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 28th. Wells Fargo & Company lifted 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. Jefferies Financial Group began coverage on shares of NRG Energy in a research note on Friday, September 13th. They issued a “hold” rating and a $82.00 target price for the company. Finally, StockNews.com lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, NRG Energy currently has a consensus rating of “Hold” and an average target price of $73.75.

Insider Activity

In other news, insider Rasesh M. Patel sold 102,603 shares of the business’s stock in a transaction on 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 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 is available through this link. 0.86% of the stock is owned by company insiders.

NRG Energy Price Performance

NRG opened at $88.00 on Tuesday. The company has a fifty day moving average price of $78.85 and a two-hundred day moving average price of $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 52 week low of $36.61 and a 52 week high of $90.57. The firm has a market capitalization of $18.35 billion, a PE ratio of 12.46 and a beta of 1.10.

NRG Energy (NYSE:NRG) last announced its quarterly 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. NRG Energy had a net margin of 7.19% and a return on equity of 43.69%. The company had revenue of $6.66 billion during the quarter, compared to analyst estimates of $8.32 billion. During the same quarter in the previous year, the business earned $1.10 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. As a group, analysts anticipate that NRG Energy, Inc. will post 4.45 earnings per share for the current year.

NRG Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were issued a $0.4075 dividend. This represents a $1.63 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was Thursday, August 1st. NRG Energy’s dividend payout ratio (DPR) is 23.09%.

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.