Redwood Wealth Management Group LLC Makes New $202,000 Investment in NRG Energy, Inc. $NRG

Redwood Wealth Management Group LLC acquired a new position in NRG Energy, Inc. (NYSE:NRG) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,257 shares of the utilities provider’s stock, valued at approximately $202,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. 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 worth $454,173,000 after purchasing an additional 6,049,247 shares in the last quarter. Amundi raised its position in shares of 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 buying an additional 3,876,235 shares in the last quarter. Boston Partners raised its position in shares of 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 buying an additional 1,771,829 shares in the last quarter. Appaloosa LP raised its position in shares of NRG Energy by 12.9% in the 1st 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 in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in shares of NRG Energy by 33.6% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,481,120 shares of the utilities provider’s stock valued at $141,388,000 after buying an additional 372,618 shares in the last quarter. Institutional investors and hedge funds own 97.72% of the company’s stock.

Insiders Place Their Bets

In other NRG Energy news, VP Dak Liyanearachchi sold 10,672 shares of the business’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 sale, the vice president directly owned 48,571 shares of the company’s stock, valued at $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 can be accessed through this link. 0.86% of the stock is owned by insiders.

NRG Energy Trading Down 0.7%

Shares of NRG Energy stock opened at $171.90 on Friday. The firm has a market capitalization of $33.25 billion, a PE ratio of 77.78 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. The firm’s 50 day moving average is $161.86 and its 200 day moving average is $151.61. NRG Energy, Inc. has a 1 year low of $79.57 and a 1 year high of $180.54.

NRG Energy (NYSE:NRG) last announced its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.04). The company had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.63 billion. NRG Energy had a net margin of 1.78% and a return on equity of 88.22%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the firm posted $3.37 earnings per share. Equities research analysts forecast 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 will be paid on Monday, November 17th. Shareholders of record on Monday, November 3rd will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Monday, November 3rd. NRG Energy’s payout ratio is presently 79.64%.

Analyst Upgrades and Downgrades

NRG has been the subject of several analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $198.00 target price on shares of NRG Energy in a research report on Monday, October 20th. Melius initiated coverage on shares of NRG Energy in a research report on Wednesday, August 20th. They issued a “buy” rating and a $308.00 target price for the company. Weiss Ratings restated a “hold (c)” rating on shares of NRG Energy in a research report on Wednesday, October 8th. Barclays boosted their target price on shares of NRG Energy from $197.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Finally, BMO Capital Markets boosted their target price on shares of NRG Energy from $167.00 to $185.00 and gave the company a “market perform” rating in a research report on Wednesday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, NRG Energy currently has an average rating of “Buy” and a consensus target price of $197.54.

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.