Texas Permanent School Fund Corp Has $6.15 Million Position in NRG Energy, Inc. $NRG

Texas Permanent School Fund Corp lifted its holdings in NRG Energy, Inc. (NYSE:NRG) by 76.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,277 shares of the utilities provider’s stock after buying an additional 16,559 shares during the period. Texas Permanent School Fund Corp’s holdings in NRG Energy were worth $6,147,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of NRG. Toth Financial Advisory Corp purchased a new stake in shares of NRG Energy in the second quarter worth approximately $27,000. Bank of Jackson Hole Trust purchased a new stake in NRG Energy in the 2nd quarter worth approximately $28,000. Fourth Dimension Wealth LLC purchased a new position in shares of NRG Energy during the 2nd quarter valued at $32,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of NRG Energy in the second quarter worth $35,000. Finally, Kiker Wealth Management LLC purchased a new stake in shares of NRG Energy during the second quarter worth $37,000. 97.72% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NRG Energy news, VP Virginia Kinney sold 20,000 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $163.82, for a total value of $3,276,400.00. Following the sale, the vice president directly owned 43,191 shares in the company, valued at $7,075,549.62. This trade represents a 31.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.61% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on NRG. BMO Capital Markets boosted their target price on NRG Energy from $185.00 to $195.00 and gave the company a “market perform” rating in a research note on Friday, November 7th. Melius Research assumed coverage on shares of NRG Energy in a research report on Wednesday, August 20th. They set a “buy” rating and a $308.00 price objective on the stock. Zacks Research downgraded shares of NRG Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 13th. Weiss Ratings restated a “buy (b)” rating on shares of NRG Energy in a report on Monday. Finally, Scotiabank began coverage on shares of NRG Energy in a research report on Monday, September 22nd. They set a “sector outperform” rating and a $212.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, NRG Energy currently has a consensus rating of “Moderate Buy” and an average target price of $199.21.

NRG Energy Trading Up 0.1%

NRG Energy stock opened at $160.16 on Wednesday. The business’s 50-day simple moving average is $167.10 and its 200-day simple moving average is $159.89. NRG Energy, Inc. has a 52 week low of $79.57 and a 52 week high of $180.54. The firm has a market capitalization of $30.69 billion, a PE ratio of 23.94 and a beta of 1.26. The company has a debt-to-equity ratio of 8.45, a quick ratio of 0.99 and a current ratio of 1.05.

NRG Energy (NYSE:NRG) last released its earnings results on Thursday, November 6th. The utilities provider reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.85. NRG Energy had a return on equity of 103.57% and a net margin of 4.84%.The firm had revenue of $7.64 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same quarter last year, the firm posted $1.90 EPS. The company’s revenue was up 5.7% on a year-over-year basis. Equities research analysts forecast that NRG Energy, Inc. will post 6.36 earnings per share for the current year.

NRG Energy announced that its board has authorized a stock buyback plan on Thursday, November 6th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the utilities provider to reacquire 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 shares are undervalued.

NRG Energy Dividend Announcement

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

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.