SteelPeak Wealth LLC Acquires Shares of 16,938 NRG Energy, Inc. $NRG

SteelPeak Wealth LLC acquired a new stake in NRG Energy, Inc. (NYSE:NRG) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 16,938 shares of the utilities provider’s stock, valued at approximately $2,743,000.

Other large investors have also recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in NRG Energy by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 5,411,045 shares of the utilities provider’s stock valued at $865,437,000 after buying an additional 39,253 shares during the period. Holocene Advisors LP increased its position in NRG Energy by 113.3% during the second quarter. Holocene Advisors LP now owns 1,444,271 shares of the utilities provider’s stock valued at $231,921,000 after acquiring an additional 767,014 shares during the last quarter. Fred Alger Management LLC raised its stake in shares of NRG Energy by 39.1% in the first quarter. Fred Alger Management LLC now owns 1,124,529 shares of the utilities provider’s stock valued at $107,348,000 after acquiring an additional 316,075 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of NRG Energy by 289.1% in the 1st quarter. Alliancebernstein L.P. now owns 1,023,168 shares of the utilities provider’s stock worth $97,672,000 after acquiring an additional 760,201 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of NRG Energy by 2.1% during the 2nd quarter. Legal & General Group Plc now owns 975,218 shares of the utilities provider’s stock worth $156,601,000 after purchasing an additional 19,997 shares during the period. Institutional investors own 97.72% of the company’s stock.

Insider Buying and Selling at NRG Energy

In related news, VP Virginia Kinney sold 20,000 shares of NRG Energy stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $163.82, for a total value of $3,276,400.00. Following the completion of the sale, the vice president directly owned 43,191 shares in the company, valued at $7,075,549.62. The trade was a 31.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.86% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NRG has been the topic of several analyst reports. UBS Group began coverage on shares of NRG Energy in a report on Tuesday, December 9th. They set a “buy” rating and a $211.00 price target on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of NRG Energy in a research note on Monday. Jefferies Financial Group reissued a “buy” rating and set a $198.00 price target on shares of NRG Energy in a research note on Monday, October 20th. Scotiabank started coverage on NRG Energy in a report on Monday, September 22nd. They set a “sector outperform” rating and a $212.00 price objective for the company. Finally, Zacks Research lowered NRG Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 13th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $199.21.

NRG Energy Stock Performance

NRG Energy stock opened at $166.13 on Friday. The company has a debt-to-equity ratio of 8.45, a quick ratio of 0.99 and a current ratio of 1.05. The company has a market capitalization of $31.84 billion, a PE ratio of 24.83 and a beta of 1.25. The company has a 50 day moving average price of $164.97 and a 200-day moving average price of $160.18. NRG Energy, Inc. has a fifty-two week low of $79.57 and a fifty-two week high of $180.54.

NRG Energy (NYSE:NRG) last announced its quarterly earnings data on Thursday, November 6th. The utilities provider reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.85. The company had revenue of $7.64 billion for the quarter, compared to analysts’ expectations of $7.53 billion. NRG Energy had a return on equity of 103.57% and a net margin of 4.84%.NRG Energy’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 earnings per share. As a group, equities analysts forecast that NRG Energy, Inc. will post 6.36 earnings per share for the current year.

NRG Energy announced that its board has approved a stock repurchase plan on Thursday, November 6th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the utilities provider to buy up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

NRG Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, November 3rd were paid a dividend of $0.44 per share. The ex-dividend date was Monday, November 3rd. This represents a $1.76 annualized dividend and a dividend yield of 1.1%. NRG Energy’s dividend payout ratio (DPR) is currently 26.31%.

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.