Daymark Wealth Partners LLC Makes New Investment in NRG Energy, Inc. (NYSE:NRG)

Daymark Wealth Partners LLC bought a new stake in shares of NRG Energy, Inc. (NYSE:NRG) in the 2nd quarter, Holdings Channel reports. The firm bought 2,871 shares of the utilities provider’s stock, valued at approximately $224,000.

Other hedge funds have also recently modified their holdings of the company. LifeSteps Financial Inc. purchased a new position in NRG Energy during the 1st quarter valued at $31,000. Rothschild Investment LLC bought a new stake in shares of NRG Energy during the second quarter worth $32,000. Mather Group LLC. purchased a new stake in shares of NRG Energy during the first quarter valued at $33,000. First Horizon Advisors Inc. boosted its stake in shares of NRG Energy by 76.1% during the second quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 191 shares during the period. Finally, Crewe Advisors LLC bought a new position in shares of NRG Energy in the first quarter worth about $36,000. Institutional investors own 97.72% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NRG. Wells Fargo & Company lifted their price objective on shares of NRG Energy from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. Jefferies Financial Group started 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. Finally, StockNews.com lowered NRG Energy from a “buy” rating to a “hold” rating in a research 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 data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $73.75.

Insider Buying and Selling at NRG Energy

In other news, insider Rasesh M. Patel sold 102,603 shares of the stock in a transaction 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 owns 163,680 shares in the company, valued at approximately $13,151,688. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.86% of the stock is owned by insiders.

NRG Energy Stock Up 0.7 %

Shares of NYSE NRG opened at $91.22 on Friday. NRG Energy, Inc. has a 12-month low of $36.61 and a 12-month high of $93.17. The stock’s fifty day simple moving average is $80.08 and its two-hundred day simple moving average is $77.41. The stock has a market capitalization of $19.02 billion, a PE ratio of 12.92 and a beta of 1.10. The company has a current ratio of 1.18, a quick ratio of 1.11 and a debt-to-equity ratio of 3.51.

NRG Energy (NYSE:NRG) last issued its quarterly earnings data on Thursday, August 8th. The utilities provider reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $1.82. The company had revenue of $6.66 billion for the quarter, compared to the consensus estimate of $8.32 billion. NRG Energy had a return on equity of 43.69% and a net margin of 7.19%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.10 earnings per share. As a group, analysts expect that NRG Energy, Inc. will post 5.51 EPS for the current fiscal year.

NRG Energy Dividend Announcement

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 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 yield of 1.79%. NRG Energy’s payout ratio is 23.09%.

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.