State of Michigan Retirement System Boosts Stock Position in NRG Energy, Inc. $NRG

State of Michigan Retirement System boosted its stake in shares of NRG Energy, Inc. (NYSE:NRG) by 10.6% in the first quarter, Holdings Channel reports. The institutional investor owned 55,466 shares of the utilities provider’s stock after purchasing an additional 5,300 shares during the period. State of Michigan Retirement System’s holdings in NRG Energy were worth $8,106,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Motiv8 Investments LLC purchased a new stake in shares of NRG Energy in the fourth quarter worth $27,000. MV Capital Management Inc. bought a new position in NRG Energy in the 4th quarter worth about $27,000. Core Wealth Advisors LLC bought a new position in NRG Energy in the 4th quarter worth about $28,000. EMC Capital Management purchased a new stake in NRG Energy during the 4th quarter valued at about $30,000. Finally, SHP Wealth Management bought a new stake in NRG Energy during the 4th quarter valued at about $32,000. 97.72% of the stock is owned by institutional investors.

NRG Energy Trading Down 0.4%

Shares of NRG stock opened at $137.81 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.78 and a debt-to-equity ratio of 4.68. NRG Energy, Inc. has a 12-month low of $120.11 and a 12-month high of $189.96. The stock has a market capitalization of $29.08 billion, a P/E ratio of 162.13 and a beta of 1.21. The firm’s 50 day moving average is $135.67 and its 200 day moving average is $150.00.

NRG Energy (NYSE:NRG) last announced its earnings results on Wednesday, May 6th. The utilities provider reported $1.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.78 by ($0.30). The company had revenue of $10.26 billion for the quarter, compared to analysts’ expectations of $8.43 billion. NRG Energy had a net margin of 0.74% and a return on equity of 70.67%. NRG Energy’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.68 earnings per share. NRG Energy has set its FY 2026 guidance at 7.900-9.900 EPS. Research analysts expect that NRG Energy, Inc. will post 8.89 earnings per share for the current year.

NRG Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were issued a $0.475 dividend. The ex-dividend date of this dividend was Friday, May 1st. This represents a $1.90 dividend on an annualized basis and a yield of 1.4%. NRG Energy’s dividend payout ratio is currently 223.53%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NRG. Siebert Williams Shank started coverage on shares of NRG Energy in a research note on Monday, July 6th. They issued a “buy” rating and a $184.00 target price on the stock. Wolfe Research upgraded shares of NRG Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective for the company in a report on Wednesday, March 18th. Morgan Stanley set a $165.00 price objective on NRG Energy in a research report on Wednesday, June 24th. Scotiabank reiterated an “outperform” rating and set a $226.00 target price on shares of NRG Energy in a research note on Wednesday. Finally, Raymond James Financial set a $210.00 price target on NRG Energy in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, NRG Energy has an average rating of “Moderate Buy” and an average target price of $198.73.

Insider Transactions at NRG Energy

In other NRG Energy news, VP Virginia Kinney sold 20,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $127.52, for a total value of $2,550,400.00. Following the transaction, the vice president directly owned 45,111 shares of the company’s stock, valued at approximately $5,752,554.72. This trade represents a 30.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.

NRG Energy Profile

NRG Energy (NYSE: NRG) is a U.S.-based integrated power company headquartered in Houston, Texas. The company develops, owns and operates a diversified portfolio of power generation assets and participates in wholesale and retail energy markets. NRG supplies electricity to utilities, commercial and industrial customers, and retail consumers, while also providing energy-related products and services designed to manage consumption and support reliability.

NRG’s generation mix includes conventional thermal plants as well as renewable and distributed energy resources.