1,520 Shares in NRG Energy, Inc. $NRG Bought by Forefront Wealth Management Inc.

Forefront Wealth Management Inc. purchased a new stake in NRG Energy, Inc. (NYSE:NRG) in the second quarter, Holdings Channel.com reports. The fund purchased 1,520 shares of the utilities provider’s stock, valued at approximately $244,000.

Several other institutional investors have also recently made changes to their positions in the company. Toth Financial Advisory Corp bought a new position in shares of NRG Energy during the second quarter valued at about $27,000. Zions Bancorporation National Association UT purchased a new position in shares of NRG Energy in the 1st quarter worth approximately $28,000. Key Financial Inc purchased a new position in shares of NRG Energy in the 1st quarter worth approximately $30,000. Evermay Wealth Management LLC purchased a new stake in shares of NRG Energy during the first quarter valued at approximately $36,000. Finally, ORG Partners LLC lifted its holdings in NRG Energy by 422.2% during the second quarter. ORG Partners LLC now owns 282 shares of the utilities provider’s stock worth $44,000 after acquiring an additional 228 shares during the period. Institutional investors own 97.72% of the company’s stock.

NRG Energy Stock Up 3.5%

NRG opened at $168.66 on Monday. NRG Energy, Inc. has a 12 month low of $79.57 and a 12 month high of $175.96. The company has a market cap of $32.62 billion, a PE ratio of 76.32, a price-to-earnings-growth ratio of 1.37 and a beta of 1.17. 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 company has a 50 day moving average of $156.31 and a 200 day moving average of $139.04.

NRG Energy (NYSE:NRG) last posted its 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 analysts’ expectations of $6.63 billion. NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.The company’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.37 EPS. On average, sell-side analysts expect that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were 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 was Friday, August 1st. NRG Energy’s payout ratio is presently 79.64%.

Wall Street Analysts Forecast Growth

NRG has been the subject of a number of recent analyst reports. Raymond James Financial began coverage on NRG Energy in a research note on Friday, June 13th. They issued a “strong-buy” rating and a $195.00 price objective for the company. BMO Capital Markets raised their price objective on shares of NRG Energy from $167.00 to $185.00 and gave the stock a “market perform” rating in a report on Wednesday, August 6th. Melius started 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 on the stock. 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 target for the company. Finally, Barclays lifted their price target on shares of NRG Energy from $197.00 to $203.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $188.85.

Insider Buying and Selling at NRG Energy

In other news, VP Dak Liyanearachchi sold 10,672 shares of the company’s stock in a transaction dated 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 sale, the vice president directly owned 48,571 shares in the company, valued at $7,528,505. This represents a 18.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.61% of the stock is currently owned by corporate insiders.

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.