NRG Energy, Inc. $NRG Shares Bought by Dorsey Wright & Associates

Dorsey Wright & Associates lifted its stake in shares of NRG Energy, Inc. (NYSE:NRG) by 49.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 92,617 shares of the utilities provider’s stock after purchasing an additional 30,669 shares during the quarter. NRG Energy comprises 3.5% of Dorsey Wright & Associates’ portfolio, making the stock its 2nd largest position. Dorsey Wright & Associates’ holdings in NRG Energy were worth $14,872,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Daymark Wealth Partners LLC increased its position in NRG Energy by 2.2% in the second quarter. Daymark Wealth Partners LLC now owns 2,944 shares of the utilities provider’s stock worth $473,000 after buying an additional 64 shares during the period. Donald L. Hagan LLC lifted its holdings in NRG Energy by 2.0% in the second quarter. Donald L. Hagan LLC now owns 3,384 shares of the utilities provider’s stock worth $543,000 after purchasing an additional 66 shares during the period. Parkside Financial Bank & Trust grew its position in NRG Energy by 6.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,437 shares of the utilities provider’s stock valued at $231,000 after buying an additional 84 shares in the last quarter. Horizon Investments LLC raised its position in shares of NRG Energy by 3.0% during the 1st quarter. Horizon Investments LLC now owns 2,908 shares of the utilities provider’s stock worth $276,000 after buying an additional 86 shares in the last quarter. Finally, Zions Bancorporation National Association UT lifted its stake in shares of NRG Energy by 32.1% in the 2nd quarter. Zions Bancorporation National Association UT now owns 383 shares of the utilities provider’s stock worth $62,000 after acquiring an additional 93 shares during the period. Institutional investors and hedge funds own 97.72% of the company’s stock.

NRG Energy Price Performance

Shares of NYSE:NRG opened at $166.74 on Wednesday. NRG Energy, Inc. has a 1 year low of $79.57 and a 1 year high of $180.54. The business has a fifty day simple moving average of $166.87 and a 200 day simple moving average of $157.29. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 5.99. The firm has a market cap of $31.95 billion, a price-to-earnings ratio of 75.45 and a beta of 1.16.

NRG Energy (NYSE:NRG) last announced its quarterly earnings results on Thursday, November 6th. The utilities provider reported $2.78 EPS for the quarter, beating the consensus estimate of $1.93 by $0.85. The business had revenue of $7.64 billion during the quarter, compared to analysts’ expectations of $7.53 billion. NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.90 EPS. As a group, sell-side analysts predict that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy announced that its Board of Directors has authorized a share buyback plan on Thursday, November 6th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the utilities provider to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

NRG Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, November 3rd were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Monday, November 3rd. NRG Energy’s dividend payout ratio is 26.31%.

Insiders Place Their Bets

In other news, VP Dak Liyanearachchi sold 10,672 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $155.00, for a total transaction of $1,654,160.00. Following the completion of the sale, the vice president owned 48,571 shares of the company’s stock, valued at approximately $7,528,505. This trade represents a 18.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Virginia Kinney sold 20,000 shares of NRG Energy stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $163.82, for a total transaction of $3,276,400.00. Following the completion of the transaction, the vice president owned 43,191 shares of the company’s stock, valued at $7,075,549.62. This trade represents a 31.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NRG. Melius Research initiated coverage on NRG Energy in a research report on Wednesday, August 20th. They set a “buy” rating and a $308.00 price target on the stock. Wells Fargo & Company upgraded shares of NRG Energy to a “strong-buy” rating in a research report on Tuesday, October 28th. BMO Capital Markets boosted their target price on shares of NRG Energy from $185.00 to $195.00 and gave the stock a “market perform” rating in a report on Friday, November 7th. Zacks Research lowered shares of NRG Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 13th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $198.00 price objective on shares of NRG Energy in a research note on Monday, October 20th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $198.31.

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.