Nordea Investment Management AB Purchases 20,502 Shares of NRG Energy, Inc. $NRG

Nordea Investment Management AB grew its holdings in NRG Energy, Inc. (NYSE:NRG) by 191.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,238 shares of the utilities provider’s stock after acquiring an additional 20,502 shares during the quarter. Nordea Investment Management AB’s holdings in NRG Energy were worth $5,047,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Kiker Wealth Management LLC raised its stake in NRG Energy by 453.6% in the 3rd quarter. Kiker Wealth Management LLC now owns 1,290 shares of the utilities provider’s stock worth $209,000 after purchasing an additional 1,057 shares in the last quarter. Elite Wealth Management Inc. acquired a new stake in shares of NRG Energy in the third quarter valued at approximately $536,000. First Horizon Corp bought a new stake in shares of NRG Energy in the third quarter valued at approximately $67,000. MGO One Seven LLC grew its position in NRG Energy by 16.3% during the third quarter. MGO One Seven LLC now owns 5,972 shares of the utilities provider’s stock worth $967,000 after buying an additional 835 shares in the last quarter. Finally, Miller Howard Investments Inc. NY bought a new position in NRG Energy during the 3rd quarter worth $1,145,000. 97.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NRG has been the subject of a number of recent analyst reports. Wells Fargo & Company upgraded NRG Energy to a “strong-buy” rating in a research report on Tuesday, October 28th. Scotiabank assumed coverage on shares of NRG Energy in a research note on Monday, September 22nd. They set a “sector outperform” rating and a $212.00 price objective on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $198.00 target price on shares of NRG Energy in a report on Monday, October 20th. UBS Group assumed coverage on shares of NRG Energy in a report on Tuesday, December 9th. They set a “buy” rating and a $211.00 price target for the company. Finally, Morgan Stanley reiterated an “underperform” rating on shares of NRG Energy in a research report on Thursday, November 20th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, NRG Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.21.

Insider Transactions at NRG Energy

In related news, CFO Bruce Chung sold 12,383 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $156.56, for a total value of $1,938,682.48. Following the completion of the transaction, the chief financial officer owned 79,147 shares in the company, valued at $12,391,254.32. This trade represents a 13.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brian Curci sold 60,580 shares of NRG Energy stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $161.71, for a total transaction of $9,796,391.80. Following the sale, the vice president owned 93,089 shares in the company, valued at approximately $15,053,422.19. This represents a 39.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 192,556 shares of company stock worth $30,826,846 in the last 90 days. 0.86% of the stock is currently owned by company insiders.

NRG Energy Trading Down 4.1%

NRG opened at $152.05 on Friday. The company has a market cap of $29.14 billion, a P/E ratio of 22.73 and a beta of 1.25. The company has a current ratio of 1.05, a quick ratio of 0.99 and a debt-to-equity ratio of 8.45. The company’s 50 day moving average is $160.91 and its 200-day moving average is $160.00. NRG Energy, Inc. has a 1-year low of $79.57 and a 1-year high of $180.54.

NRG Energy (NYSE:NRG) last issued its quarterly earnings data on Thursday, November 6th. The utilities provider reported $2.78 EPS for the quarter, beating the consensus estimate of $1.93 by $0.85. The business had revenue of $7.64 billion during the quarter, compared to the consensus estimate of $7.53 billion. NRG Energy had a net margin of 4.84% and a return on equity of 103.57%. The firm’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.90 EPS. Equities research analysts predict that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 3rd were given a dividend of $0.44 per share. The ex-dividend date was Monday, November 3rd. This represents a $1.76 dividend on an annualized basis and a yield of 1.2%. NRG Energy’s payout ratio is currently 26.31%.

NRG Energy announced that its Board of Directors has authorized a stock repurchase program on Thursday, November 6th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the utilities provider to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

About NRG Energy

NRG Energy (NYSE: NRG) is a U.S.-based integrated power company headquartered in Houston, Texas. The company develops, owns and operates a diversified portfolio of power generation assets and participates in wholesale and retail energy markets. NRG supplies electricity to utilities, commercial and industrial customers, and retail consumers, while also providing energy-related products and services designed to manage consumption and support reliability.

NRG’s generation mix includes conventional thermal plants as well as renewable and distributed energy resources.