Diversify Wealth Management LLC Makes New Investment in NRG Energy, Inc. (NYSE:NRG)

Diversify Wealth Management LLC purchased a new stake in NRG Energy, Inc. (NYSE:NRG) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,288 shares of the utilities provider’s stock, valued at approximately $2,043,000.

Several other large investors have also modified their holdings of the stock. Banco Santander S.A. purchased a new stake in shares of NRG Energy during the second quarter valued at $217,671,000. Capitolis Liquid Global Markets LLC lifted its stake in NRG Energy by 253.2% during the first quarter. Capitolis Liquid Global Markets LLC now owns 1,766,000 shares of the utilities provider’s stock valued at $119,541,000 after buying an additional 1,266,000 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of NRG Energy by 11.1% in the first quarter. Russell Investments Group Ltd. now owns 1,610,562 shares of the utilities provider’s stock worth $109,007,000 after buying an additional 160,415 shares during the period. Assenagon Asset Management S.A. increased its position in shares of NRG Energy by 65.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,596,684 shares of the utilities provider’s stock worth $124,318,000 after acquiring an additional 633,765 shares in the last quarter. Finally, Zimmer Partners LP acquired a new stake in shares of NRG Energy during the first quarter valued at approximately $64,306,000. 97.72% of the stock is owned by institutional investors.

Insider Activity at NRG Energy

In other NRG Energy news, insider Rasesh M. Patel sold 102,603 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $80.35, for a total transaction of $8,244,151.05. Following the sale, the insider now owns 163,680 shares of the company’s stock, valued at $13,151,688. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.61% of the stock is currently owned by company insiders.

NRG Energy Price Performance

NYSE:NRG opened at $88.45 on Thursday. The company has a market capitalization of $18.25 billion, a price-to-earnings ratio of 9.64 and a beta of 1.10. The company has a 50-day moving average of $86.00 and a 200-day moving average of $80.79. NRG Energy, Inc. has a 52 week low of $41.57 and a 52 week high of $96.40. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.11 and a current ratio of 1.18.

NRG Energy (NYSE:NRG) last posted its earnings results on Thursday, August 8th. The utilities provider reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $1.82. NRG Energy had a net margin of 7.19% and a return on equity of 43.69%. The company had revenue of $6.66 billion during the quarter, compared to analysts’ expectations of $8.32 billion. During the same quarter in the previous year, the company posted $1.10 earnings per share. NRG Energy’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, equities research analysts anticipate that NRG Energy, Inc. will post 6.09 earnings per share for the current fiscal year.

NRG Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a $0.4075 dividend. The ex-dividend date is Friday, November 1st. This represents a $1.63 dividend on an annualized basis and a dividend yield of 1.84%. NRG Energy’s dividend payout ratio (DPR) is presently 17.76%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Jefferies Financial Group initiated coverage on shares of NRG Energy in a research report on Friday, September 13th. They set a “hold” rating and a $82.00 price objective on the stock. Wells Fargo & Company upped their price target on NRG Energy from $120.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday. StockNews.com lowered NRG Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Guggenheim upped their target price on NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, BMO Capital Markets raised their price target on shares of NRG Energy from $90.00 to $94.00 and gave the stock a “market perform” rating in a report on Tuesday. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $85.00.

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.