Altus Wealth Group LLC Invests $239,000 in NRG Energy, Inc. $NRG

Altus Wealth Group LLC acquired a new position in NRG Energy, Inc. (NYSE:NRG) during the second quarter, HoldingsChannel.com reports. The fund acquired 1,490 shares of the utilities provider’s stock, valued at approximately $239,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in NRG. Toth Financial Advisory Corp purchased a new position in shares of NRG Energy in the second quarter worth approximately $27,000. Zions Bancorporation National Association UT purchased a new position in shares of NRG Energy in the first quarter worth approximately $28,000. Key Financial Inc purchased a new position in shares of NRG Energy in the first quarter worth approximately $30,000. Evermay Wealth Management LLC purchased a new position in shares of NRG Energy in the first quarter worth approximately $36,000. Finally, Kiker Wealth Management LLC purchased a new position in shares of NRG Energy in the second quarter worth approximately $37,000. Hedge funds and other institutional investors own 97.72% of the company’s stock.

NRG Energy Trading Down 0.4%

NRG stock opened at $169.22 on Monday. NRG Energy, Inc. has a 1-year low of $79.57 and a 1-year high of $175.96. The company has a debt-to-equity ratio of 5.99, a current ratio of 0.93 and a quick ratio of 0.88. The company has a market capitalization of $32.73 billion, a price-to-earnings ratio of 76.57 and a beta of 1.14. The business has a 50 day simple moving average of $158.08 and a two-hundred day simple moving average of $146.19.

NRG Energy (NYSE:NRG) last posted its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $1.68 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.04). NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.The business had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.63 billion. During the same quarter in the previous year, the company earned $3.37 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. Research analysts anticipate that NRG Energy, Inc. will post 6.36 EPS for the current fiscal year.

Analyst Ratings Changes

NRG has been the subject of a number of recent research reports. Melius Research initiated coverage on NRG Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $308.00 price objective for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of NRG Energy in a research note on Wednesday, October 8th. Citigroup boosted their price objective on NRG Energy from $133.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. Barclays boosted their price objective on NRG Energy from $197.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Finally, Scotiabank initiated coverage on NRG Energy in a research note on Monday, September 22nd. They set a “sector outperform” rating and a $212.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $188.85.

Insider Activity at NRG Energy

In other 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 completion of the transaction, the vice president directly owned 48,571 shares in the company, valued at approximately $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 can be accessed through the SEC website. Corporate insiders own 0.61% of the company’s stock.

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.