Renaissance Group LLC Increases Stock Holdings in NRG Energy, Inc. $NRG

Renaissance Group LLC grew its stake in shares of NRG Energy, Inc. (NYSE:NRG) by 54.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,813 shares of the utilities provider’s stock after purchasing an additional 2,052 shares during the quarter. Renaissance Group LLC’s holdings in NRG Energy were worth $933,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of NRG. Toth Financial Advisory Corp purchased a new stake in NRG Energy in the second quarter valued at $27,000. Zions Bancorporation National Association UT purchased a new stake in shares of NRG Energy in the 1st quarter valued at about $28,000. Bank of Jackson Hole Trust acquired a new stake in shares of NRG Energy in the 2nd quarter valued at about $28,000. Fourth Dimension Wealth LLC purchased a new position in NRG Energy during the 2nd quarter worth approximately $32,000. Finally, Evermay Wealth Management LLC acquired a new position in NRG Energy during the first quarter worth approximately $36,000. Institutional investors and hedge funds own 97.72% of the company’s stock.

NRG Energy Stock Performance

Shares of NRG stock opened at $168.76 on Thursday. 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 stock has a 50 day simple moving average of $167.01 and a 200-day simple moving average of $157.37. The company has a market cap of $32.34 billion, a price-to-earnings ratio of 76.36 and a beta of 1.16. NRG Energy, Inc. has a 12-month low of $79.57 and a 12-month high of $180.54.

NRG Energy (NYSE:NRG) last posted its quarterly earnings results on Thursday, November 6th. The utilities provider reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.85. NRG Energy had a net margin of 1.78% and a return on equity of 88.22%. The business had revenue of $7.64 billion for the quarter, compared to analysts’ expectations of $7.53 billion. During the same period in the prior year, the company posted $1.90 EPS. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities analysts forecast that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 3rd were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Monday, November 3rd. NRG Energy’s dividend payout ratio (DPR) is presently 26.31%.

NRG Energy declared that its board has authorized a share repurchase plan on Thursday, November 6th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the utilities provider to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Melius Research initiated coverage on NRG Energy in a report on Wednesday, August 20th. They issued a “buy” rating and a $308.00 price objective for the company. Wells Fargo & Company upgraded shares of NRG Energy to a “strong-buy” rating in a research note on Tuesday, October 28th. Scotiabank started coverage on shares of NRG Energy in a research report on Monday, September 22nd. They set a “sector outperform” rating and a $212.00 price objective on the stock. Wall Street Zen lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, BMO Capital Markets increased their target price on shares of NRG Energy from $185.00 to $195.00 and gave the stock a “market perform” rating in a research note on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $198.31.

Insiders Place Their Bets

In related news, VP Dak Liyanearachchi sold 10,672 shares of the company’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 value of $1,654,160.00. Following the sale, the vice president owned 48,571 shares of the company’s stock, valued at approximately $7,528,505. This represents a 18.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Virginia Kinney sold 20,000 shares of the 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 approximately $7,075,549.62. The trade was a 31.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.61% 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.