Legacy Capital Group California Inc. Takes Position in NRG Energy, Inc. (NYSE:NRG)

Legacy Capital Group California Inc. acquired a new position in NRG Energy, Inc. (NYSE:NRG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,027 shares of the utilities provider’s stock, valued at approximately $276,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its position in shares of NRG Energy by 4.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 31,040 shares of the utilities provider’s stock worth $2,101,000 after buying an additional 1,383 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in NRG Energy by 885.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 237,444 shares of the utilities provider’s stock valued at $16,073,000 after purchasing an additional 213,347 shares during the period. First Trust Direct Indexing L.P. raised its holdings in shares of NRG Energy by 2.8% in the 1st quarter. First Trust Direct Indexing L.P. now owns 5,813 shares of the utilities provider’s stock valued at $393,000 after purchasing an additional 161 shares in the last quarter. Accel Wealth Management bought a new position in NRG Energy in the first quarter worth approximately $250,000. Finally, Commonwealth Equity Services LLC lifted its holdings in NRG Energy by 30.7% during the first quarter. Commonwealth Equity Services LLC now owns 55,738 shares of the utilities provider’s stock worth $3,773,000 after buying an additional 13,079 shares during the period. Institutional investors own 97.72% of the company’s stock.

Wall Street Analyst Weigh In

NRG has been the subject of a number of recent research reports. Guggenheim boosted their target price on shares of NRG Energy from $77.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Jefferies Financial Group assumed coverage on shares of NRG Energy in a research note on Friday, September 13th. They set a “hold” rating and a $82.00 price objective for the company. StockNews.com downgraded shares of NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Wells Fargo & Company upped 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. Finally, BMO Capital Markets raised their price objective on NRG Energy from $88.00 to $90.00 and gave the stock a “market perform” rating in a research report on Monday, September 30th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $83.25.

Insider Activity

In related news, insider Rasesh M. Patel sold 102,603 shares of the firm’s stock in a transaction 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 owns 163,680 shares of the company’s stock, valued at $13,151,688. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.86% of the company’s stock.

NRG Energy Price Performance

NYSE NRG opened at $87.52 on Friday. The company has a market cap of $18.25 billion, a price-to-earnings ratio of 12.40 and a beta of 1.10. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.18 and a quick ratio of 1.11. The stock’s fifty day moving average price is $85.63 and its 200 day moving average price is $80.43. NRG Energy, Inc. has a 1 year low of $41.49 and a 1 year high of $96.40.

NRG Energy (NYSE:NRG) last announced 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. NRG Energy had a return on equity of 43.69% and a net margin of 7.19%. The business had revenue of $6.66 billion for the quarter, compared to analyst estimates of $8.32 billion. During the same period in the prior year, the company earned $1.10 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. As a group, equities 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 will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Friday, November 1st. 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.