Catalyst Funds Management Pty Ltd Buys Shares of 10,200 NRG Energy, Inc. $NRG

Catalyst Funds Management Pty Ltd purchased a new stake in NRG Energy, Inc. (NYSE:NRG) in the second quarter, HoldingsChannel reports. The firm purchased 10,200 shares of the utilities provider’s stock, valued at approximately $1,638,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Toth Financial Advisory Corp purchased a new position in NRG Energy during the 2nd quarter valued at about $27,000. Zions Bancorporation National Association UT acquired a new stake in shares of NRG Energy in the first quarter valued at approximately $28,000. Bank of Jackson Hole Trust purchased a new position in shares of NRG Energy during the 2nd quarter worth approximately $28,000. Fourth Dimension Wealth LLC acquired a new position in shares of NRG Energy during the 2nd quarter worth approximately $32,000. Finally, Evermay Wealth Management LLC purchased a new stake in NRG Energy in the 1st quarter valued at approximately $36,000. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on NRG shares. BMO Capital Markets raised their price target on NRG Energy from $185.00 to $195.00 and gave the stock a “market perform” rating in a research report on Friday, November 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of NRG Energy in a research note on Thursday, November 13th. Zacks Research cut NRG Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 13th. Melius assumed coverage on shares of NRG Energy in a report on Wednesday, August 20th. They issued a “buy” rating and a $308.00 target price on the stock. Finally, Barclays raised their price target on shares of NRG Energy from $197.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $198.31.

Insiders Place Their Bets

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

NRG Energy Stock Performance

NYSE NRG opened at $168.76 on Thursday. The business’s 50-day moving average price is $167.01 and its 200 day moving average price is $157.37. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 5.99. NRG Energy, Inc. has a twelve month low of $79.57 and a twelve month high of $180.54. The company has a market capitalization of $32.34 billion, a PE ratio of 76.36 and a beta of 1.16.

NRG Energy (NYSE:NRG) last posted its quarterly earnings data on Thursday, November 6th. The utilities provider reported $2.78 EPS for the quarter, beating 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 company had revenue of $7.64 billion during the quarter, compared to the consensus estimate of $7.53 billion. During the same quarter in the prior year, the company posted $1.90 EPS. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, research analysts predict that NRG Energy, Inc. will post 6.36 earnings per share for the current year.

NRG Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, November 3rd were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $1.76 dividend on an annualized basis and a yield of 1.0%. NRG Energy’s dividend payout ratio (DPR) is currently 26.31%.

NRG Energy announced that its board has initiated a share buyback program on Thursday, November 6th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the utilities provider to buy up to 9.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

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.