Reliant Investment Partners LLC Acquires 279 Shares of NRG Energy, Inc. $NRG

Reliant Investment Partners LLC raised its holdings in shares of NRG Energy, Inc. (NYSE:NRG) by 12.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 2,471 shares of the utilities provider’s stock after purchasing an additional 279 shares during the period. Reliant Investment Partners LLC’s holdings in NRG Energy were worth $397,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NRG. GW&K Investment Management LLC raised its stake in NRG Energy by 23.8% in the first quarter. GW&K Investment Management LLC now owns 672 shares of the utilities provider’s stock worth $64,000 after buying an additional 129 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of NRG Energy by 99.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 413,911 shares of the utilities provider’s stock worth $39,512,000 after acquiring an additional 206,096 shares in the last quarter. J.W. Cole Advisors Inc. lifted its stake in shares of NRG Energy by 32.7% during the 1st quarter. J.W. Cole Advisors Inc. now owns 10,082 shares of the utilities provider’s stock worth $962,000 after purchasing an additional 2,484 shares during the last quarter. Cerity Partners LLC boosted its position in NRG Energy by 8.9% during the first quarter. Cerity Partners LLC now owns 30,127 shares of the utilities provider’s stock valued at $2,876,000 after purchasing an additional 2,450 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in NRG Energy by 2.7% in the second quarter. Nordea Investment Management AB now owns 10,736 shares of the utilities provider’s stock valued at $1,733,000 after purchasing an additional 279 shares during the last quarter. 97.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on NRG shares. Weiss Ratings reissued a “hold (c)” rating on shares of NRG Energy in a research report on Wednesday, October 8th. Scotiabank began coverage on shares of NRG Energy in a research note on Monday, September 22nd. They issued a “sector outperform” rating and a $212.00 target price for the company. Barclays lifted their price target on shares of NRG Energy from $197.00 to $203.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Zacks Research upgraded NRG Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. Finally, Melius began coverage on NRG Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $308.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $197.62.

Insiders Place Their Bets

In other NRG Energy 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 transaction, the vice president directly owned 48,571 shares of the company’s stock, valued at approximately $7,528,505. This trade represents a 18.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.61% of the company’s stock.

NRG Energy Trading Up 1.4%

NYSE:NRG opened at $172.79 on Tuesday. The company has a market capitalization of $33.42 billion, a P/E ratio of 78.19 and a beta of 1.14. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 5.99. NRG Energy, Inc. has a 12 month low of $79.57 and a 12 month high of $175.96. The firm has a fifty day simple moving average of $159.69 and a 200-day simple moving average of $149.41.

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

NRG Energy Dividend Announcement

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

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.