BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys 14,186 Shares of NRG Energy, Inc. (NYSE:NRG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of NRG Energy, Inc. (NYSE:NRG) by 52.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,141 shares of the utilities provider’s stock after purchasing an additional 14,186 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in NRG Energy were worth $3,203,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Point72 DIFC Ltd raised its position in NRG Energy by 326.3% in the 2nd quarter. Point72 DIFC Ltd now owns 133,465 shares of the utilities provider’s stock valued at $10,392,000 after buying an additional 102,157 shares during the last quarter. Sagefield Capital LP acquired a new stake in shares of NRG Energy in the second quarter valued at approximately $1,246,000. Lombard Odier Asset Management USA Corp bought a new stake in shares of NRG Energy in the second quarter worth $717,000. Public Sector Pension Investment Board boosted its holdings in 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. Finally, Hood River Capital Management LLC bought a new position in NRG Energy in the second quarter valued at $3,855,000. Institutional investors and hedge funds own 97.72% of the company’s stock.

Insider Buying and Selling at NRG Energy

In other news, insider Rasesh M. Patel sold 102,603 shares of the company’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 value of $8,244,151.05. Following the transaction, the insider now owns 163,680 shares of the company’s stock, valued at $13,151,688. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.86% of the company’s stock.

NRG Energy Stock Performance

NRG opened at $91.22 on Friday. 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 stock has a market cap of $19.02 billion, a price-to-earnings ratio of 12.92 and a beta of 1.10. NRG Energy, Inc. has a 12-month low of $36.61 and a 12-month high of $93.17. The business has a 50 day moving average of $80.08 and a 200-day moving average of $77.31.

NRG Energy (NYSE:NRG) last released its quarterly earnings data on Thursday, August 8th. The utilities provider reported $3.37 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 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 period in the previous year, the business posted $1.10 earnings per share. On average, equities research analysts expect that NRG Energy, Inc. will post 5.51 earnings per share for the current year.

NRG Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were paid a $0.4075 dividend. The ex-dividend date was Thursday, August 1st. This represents a $1.63 dividend on an annualized basis and a yield of 1.79%. NRG Energy’s dividend payout ratio (DPR) is currently 23.09%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NRG shares. 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. StockNews.com cut NRG Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Finally, Wells Fargo & Company boosted their price target on NRG Energy from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.