Decade Renewable Partners LP Makes New Investment in NRG Energy, Inc. (NYSE:NRG)

Decade Renewable Partners LP bought a new stake in NRG Energy, Inc. (NYSE:NRG) during the 2nd quarter, Holdings Channel reports. The fund bought 30,000 shares of the utilities provider’s stock, valued at approximately $2,336,000. NRG Energy accounts for about 1.1% of Decade Renewable Partners LP’s investment portfolio, making the stock its 28th largest holding.

Several other institutional investors also recently modified their holdings of NRG. Janney Montgomery Scott LLC raised its position in shares of NRG Energy by 55.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 9,475 shares of the utilities provider’s stock valued at $490,000 after acquiring an additional 3,374 shares during the last quarter. Franklin Resources Inc. lifted its stake in NRG Energy by 156.4% in the fourth quarter. Franklin Resources Inc. now owns 269,749 shares of the utilities provider’s stock valued at $13,946,000 after buying an additional 164,543 shares during the period. Congress Wealth Management LLC DE bought a new position in NRG Energy during the fourth quarter worth about $201,000. Steward Partners Investment Advisory LLC grew its position in shares of NRG Energy by 79.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 11,466 shares of the utilities provider’s stock worth $593,000 after buying an additional 5,090 shares during the period. Finally, TD Asset Management Inc increased its stake in shares of NRG Energy by 6.6% in the 4th quarter. TD Asset Management Inc now owns 61,518 shares of the utilities provider’s stock valued at $3,180,000 after acquiring an additional 3,782 shares during the last quarter. Institutional investors and hedge funds own 97.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on NRG shares. StockNews.com lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Jefferies Financial Group started coverage on shares of NRG Energy in a research report on Friday, September 13th. They set a “hold” rating and a $82.00 price target on the stock. Finally, Wells Fargo & Company upped their price objective on shares of NRG Energy from $110.00 to $120.00 and gave the company an “overweight” rating in a research report 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. Based on data from MarketBeat, NRG Energy currently has an average rating of “Hold” and a consensus target price of $73.75.

NRG Energy Stock Up 1.5 %

NRG Energy stock opened at $89.24 on Thursday. NRG Energy, Inc. has a twelve month low of $36.61 and a twelve month high of $90.57. The company has a quick ratio of 1.11, a current ratio of 1.18 and a debt-to-equity ratio of 3.51. The company has a 50 day moving average of $79.41 and a 200-day moving average of $77.00. The stock has a market capitalization of $18.42 billion, a PE ratio of 12.64 and a beta of 1.10.

NRG Energy (NYSE:NRG) last released its earnings results on Thursday, August 8th. The utilities provider reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $1.82. The firm had revenue of $6.66 billion during 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 revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.10 EPS. On average, equities research analysts anticipate that NRG Energy, Inc. will post 5.51 EPS for the current fiscal year.

NRG Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were given a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date was Thursday, August 1st. NRG Energy’s dividend payout ratio is presently 23.09%.

Insider Buying and Selling at NRG Energy

In other news, insider Rasesh M. Patel sold 102,603 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were 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 directly 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 hyperlink. Company insiders own 0.86% of the company’s stock.

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.