State of New Jersey Common Pension Fund D Increases Stock Holdings in NRG Energy, Inc. $NRG

State of New Jersey Common Pension Fund D grew its position in NRG Energy, Inc. (NYSE:NRG) by 0.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,465 shares of the utilities provider’s stock after buying an additional 437 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in NRG Energy were worth $11,155,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in NRG. Goldman Sachs Group Inc. raised its stake in NRG Energy by 468.4% in 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 raised its stake in NRG Energy by 772.5% in the 1st quarter. Amundi now owns 4,378,022 shares of the utilities provider’s stock valued at $406,342,000 after purchasing an additional 3,876,235 shares during the last quarter. Boston Partners raised its stake in NRG Energy by 169.5% in the 1st quarter. Boston Partners now owns 2,817,018 shares of the utilities provider’s stock valued at $269,230,000 after purchasing an additional 1,771,829 shares during the last quarter. Nuveen LLC acquired a new position in NRG Energy in the 1st quarter valued at about $93,075,000. Finally, Alliancebernstein L.P. raised its stake in NRG Energy by 289.1% in the 1st quarter. Alliancebernstein L.P. now owns 1,023,168 shares of the utilities provider’s stock valued at $97,672,000 after purchasing an additional 760,201 shares during the last quarter. Institutional investors and hedge funds own 97.72% of the company’s stock.

Analyst Ratings Changes

NRG has been the subject of several analyst reports. Melius Research initiated coverage on shares of NRG Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $308.00 target price for the company. Citigroup raised their price target on NRG Energy from $133.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Wall Street Zen lowered NRG Energy from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Jefferies Financial Group reissued a “buy” rating and issued a $198.00 price target on shares of NRG Energy in a research note on Monday, October 20th. Finally, Scotiabank initiated coverage on NRG Energy in a research note on Monday, September 22nd. They issued a “sector outperform” rating and a $212.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, NRG Energy has a consensus rating of “Buy” and a consensus target price of $197.46.

NRG Energy Stock Performance

NYSE NRG opened at $170.12 on Friday. The firm has a market capitalization of $32.91 billion, a P/E ratio of 76.98 and a beta of 1.14. 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 business’s 50-day simple moving average is $159.24 and its 200-day simple moving average is $148.53.

NRG Energy (NYSE:NRG) last released its quarterly earnings data 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). The firm had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.63 billion. NRG Energy had a net margin of 1.78% and a return on equity of 88.22%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $3.37 earnings per share. Equities analysts predict that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Announces Dividend

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

Insider Buying and Selling

In related news, VP Dak Liyanearachchi sold 10,672 shares of the business’s 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 transaction, the vice president directly owned 48,571 shares of the company’s stock, valued at approximately $7,528,505. The trade was a 18.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.86% of the company’s stock.

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.