First Citizens Bank & Trust Co. Buys Shares of 1,709 NRG Energy, Inc. $NRG

First Citizens Bank & Trust Co. bought a new stake in shares of NRG Energy, Inc. (NYSE:NRG) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,709 shares of the utilities provider’s stock, valued at approximately $274,000.

A number of other hedge funds have also made changes to their positions in NRG. Brighton Jones LLC raised its holdings in shares of NRG Energy by 41.8% during the fourth quarter. Brighton Jones LLC now owns 5,187 shares of the utilities provider’s stock valued at $468,000 after acquiring an additional 1,528 shares during the last quarter. GAMMA Investing LLC grew its position in shares of NRG Energy by 10.9% in the first quarter. GAMMA Investing LLC now owns 6,928 shares of the utilities provider’s stock valued at $661,000 after purchasing an additional 679 shares in the last quarter. Spire Wealth Management grew its position in shares of NRG Energy by 55.1% in the first quarter. Spire Wealth Management now owns 4,391 shares of the utilities provider’s stock valued at $419,000 after purchasing an additional 1,560 shares in the last quarter. Perigon Wealth Management LLC grew its position in shares of NRG Energy by 7.9% in the first quarter. Perigon Wealth Management LLC now owns 9,049 shares of the utilities provider’s stock valued at $864,000 after purchasing an additional 666 shares in the last quarter. Finally, Diversified Trust Co grew its position in shares of NRG Energy by 6.4% in the first quarter. Diversified Trust Co now owns 2,845 shares of the utilities provider’s stock valued at $272,000 after purchasing an additional 171 shares in the last quarter. Institutional investors and hedge funds own 97.72% of the company’s stock.

NRG Energy Stock Up 3.9%

NYSE:NRG opened at $170.12 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 5.99. The stock’s fifty day moving average is $159.24 and its two-hundred day moving average is $148.88. NRG Energy, Inc. has a 52 week low of $79.57 and a 52 week high of $175.96. The stock has a market capitalization of $32.91 billion, a price-to-earnings ratio of 76.98 and a beta of 1.14.

NRG Energy (NYSE:NRG) last released its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $1.68 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.04). NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.The firm had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.63 billion. During the same quarter last year, the company earned $3.37 earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. Research analysts anticipate that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, November 3rd will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Monday, November 3rd. NRG Energy’s dividend payout ratio is 79.64%.

Insider Buying and Selling

In other NRG Energy news, VP Dak Liyanearachchi sold 10,672 shares of the company’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $155.00, for a total transaction of $1,654,160.00. Following the transaction, the vice president directly owned 48,571 shares in the company, valued at $7,528,505. This represents a 18.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NRG. Melius began coverage on NRG Energy in a research report on Wednesday, August 20th. They issued a “buy” rating and a $308.00 price target for the company. Weiss Ratings restated a “hold (c)” rating on shares of NRG Energy in a research report on Saturday. Morgan Stanley set a $145.00 price target on NRG Energy and gave the company an “outperform” rating in a research report on Wednesday. Wall Street Zen lowered NRG Energy from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Scotiabank assumed coverage on NRG Energy in a research report on Monday, September 22nd. They issued a “sector outperform” rating and a $212.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $197.46.

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.