Abacus Planning Group Inc. Buys New Position in NRG Energy, Inc. $NRG

Abacus Planning Group Inc. purchased a new position in NRG Energy, Inc. (NYSE:NRG) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 1,260 shares of the utilities provider’s stock, valued at approximately $202,000.

Several other hedge funds also recently modified their holdings of NRG. Goldman Sachs Group Inc. raised its stake in NRG Energy by 468.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,757,735 shares of the utilities provider’s stock valued at $454,173,000 after purchasing an additional 6,049,247 shares during the last quarter. Amundi increased its holdings in shares of NRG Energy by 772.5% during the 1st quarter. Amundi now owns 4,378,022 shares of the utilities provider’s stock worth $406,342,000 after purchasing an additional 3,876,235 shares during the period. Boston Partners raised its position in shares of NRG Energy by 169.5% during the first quarter. Boston Partners now owns 2,817,018 shares of the utilities provider’s stock valued at $269,230,000 after buying an additional 1,771,829 shares during the last quarter. Appaloosa LP lifted its stake in shares of NRG Energy by 12.9% in the first quarter. Appaloosa LP now owns 2,050,000 shares of the utilities provider’s stock valued at $195,693,000 after buying an additional 235,000 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in NRG Energy by 33.6% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,481,120 shares of the utilities provider’s stock worth $141,388,000 after buying an additional 372,618 shares in the last quarter. 97.72% of the stock is owned by institutional investors.

NRG Energy Stock Down 0.4%

Shares of NYSE NRG opened at $166.56 on Friday. NRG Energy, Inc. has a 52-week low of $79.57 and a 52-week high of $175.96. The company has a debt-to-equity ratio of 5.99, a quick ratio of 0.88 and a current ratio of 0.93. The business has a fifty day moving average of $157.14 and a two-hundred day moving average of $140.82. The stock has a market cap of $32.22 billion, a PE ratio of 75.37, a PEG ratio of 1.36 and a beta of 1.14.

NRG Energy (NYSE:NRG) last announced 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). 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 business earned $3.37 EPS. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities research analysts expect that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 1st. NRG Energy’s payout ratio is presently 79.64%.

Analyst Upgrades and Downgrades

Several research firms have commented on NRG. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NRG Energy in a report on Saturday, September 27th. Melius Research started coverage on NRG Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $308.00 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 research note on Thursday, August 7th. Citigroup boosted their price target on shares of NRG Energy from $133.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Finally, Wall Street Zen downgraded shares of NRG Energy from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $188.85.

Insider Buying and Selling

In related news, VP Dak Liyanearachchi sold 10,672 shares of the stock in a transaction that occurred 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 sale, the vice president directly owned 48,571 shares in the company, valued at $7,528,505. This represents a 18.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.86% of the stock is currently owned by company insiders.

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.