MBB Public Markets I LLC Takes $1.25 Million Position in NRG Energy, Inc. (NYSE:NRG)

MBB Public Markets I LLC purchased a new stake in shares of NRG Energy, Inc. (NYSE:NRG) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 16,045 shares of the utilities provider’s stock, valued at approximately $1,249,000.

Several other hedge funds have also bought and sold shares of the business. LifeSteps Financial Inc. purchased a new position in shares of NRG Energy during the first quarter valued at approximately $31,000. Rothschild Investment LLC bought a new position in NRG Energy during the 2nd quarter valued at approximately $32,000. Mather Group LLC. purchased a new position in NRG Energy during the first quarter valued at $33,000. First Horizon Advisors Inc. boosted its holdings in NRG Energy by 76.1% in the second quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 191 shares in the last quarter. Finally, Crewe Advisors LLC purchased a new stake in shares of NRG Energy in the first quarter worth $36,000. Institutional investors own 97.72% of the company’s stock.

NRG Energy Trading Down 0.1 %

NYSE:NRG opened at $91.10 on Tuesday. The company has a market cap of $18.99 billion, a PE ratio of 12.90 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. The company has a 50 day simple moving average of $80.37 and a two-hundred day simple moving average of $77.72. NRG Energy, Inc. has a 12 month low of $36.61 and a 12 month high of $93.17.

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

NRG Energy Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NRG. Jefferies Financial Group initiated coverage on shares of NRG Energy in a research note on Friday, September 13th. They issued a “hold” rating and a $82.00 price target on the stock. Wells Fargo & Company upped their target price on shares of NRG Energy from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. StockNews.com downgraded shares of NRG Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Finally, BMO Capital Markets upped their price objective on NRG Energy from $88.00 to $90.00 and gave the company a “market perform” rating in a research report on Monday. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $74.75.

Insider Buying and Selling

In other NRG Energy news, insider Rasesh M. Patel sold 102,603 shares of the company’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 sale, the insider now directly owns 163,680 shares of the company’s stock, valued at $13,151,688. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.86% of the stock is currently owned by insiders.

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.