NRG Energy, Inc. $NRG Shares Newly Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of NRG Energy, Inc. (NYSE:NRG) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 55,376 shares of the utilities provider’s stock, valued at approximately $5,297,000.

Several other hedge funds have also modified their holdings of NRG. Reyes Financial Architecture Inc. purchased a new stake in NRG Energy in the third quarter valued at approximately $27,000. Burkett Financial Services LLC acquired a new position in NRG Energy during the third quarter worth approximately $30,000. Cassaday & Co Wealth Management LLC purchased a new position in NRG Energy during the first quarter worth approximately $33,000. Wellington Altus USA Inc. purchased a new position in NRG Energy during the second quarter worth approximately $33,000. Finally, Latitude Advisors LLC acquired a new position in shares of NRG Energy in the 3rd quarter valued at $35,000. 97.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on NRG shares. Evercore reissued an “outperform” rating and set a $195.00 price objective on shares of NRG Energy in a research note on Wednesday, August 5th. Scotiabank cut their target price on NRG Energy from $162.00 to $149.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, October 28th. BNP Paribas Exane set a $221.00 target price on NRG Energy in a report on Wednesday, August 19th. Raymond James Financial set a $152.00 price target on NRG Energy in a research report on Wednesday, October 21st. Finally, Williams Trading set a $165.00 price target on NRG Energy in a research note on Wednesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $173.56.

Insider Buying and Selling

In related news, CAO Gerald Alfred Spencer sold 1,580 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $120.93, for a total transaction of $191,069.40. Following the transaction, the chief accounting officer directly owned 6,213 shares of the company’s stock, valued at approximately $751,338.09. The trade was a 20.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company’s stock.

NRG Energy Trading Down 3.1%

NYSE:NRG opened at $80.70 on Friday. The business’s 50-day moving average is $102.52 and its two-hundred day moving average is $134.01. The firm has a market capitalization of $17.03 billion, a PE ratio of 21.35 and a beta of 1.22. NRG Energy, Inc. has a 12 month low of $79.65 and a 12 month high of $189.96. The company has a debt-to-equity ratio of 5.17, a current ratio of 0.97 and a quick ratio of 0.89.

NRG Energy (NYSE:NRG) last issued its earnings results on Tuesday, August 4th. The utilities provider reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.20). NRG Energy had a return on equity of 52.95% and a net margin of 2.56%. The company had revenue of $7.48 billion during the quarter, compared to analysts’ expectations of $7.31 billion. During the same period in the previous year, the company earned $1.73 EPS. NRG Energy’s quarterly revenue was up 11.0% on a year-over-year basis. Research analysts predict that NRG Energy, Inc. will post 8.62 earnings per share for the current fiscal year.

NRG Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be given a dividend of $0.4750 per share. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $1.90 annualized dividend and a yield of 2.4%. NRG Energy’s payout ratio is 50.26%.

About NRG Energy

NRG Energy, Inc is an integrated power and home services company headquartered in Houston, Texas. The company produces and sells electricity through a diverse generation portfolio that includes natural gas, coal, nuclear power, renewable energy and battery storage. NRG serves wholesale and retail energy markets, with operations and customers primarily in the United States and Canada.

Through retail brands including Reliant and Direct Energy, NRG provides electricity, natural gas and related energy products to residential, commercial and industrial customers.