NRG Energy, Inc. (NYSE:NRG) Insider Sells $8,244,151.05 in Stock

NRG Energy, Inc. (NYSE:NRG) insider Rasesh M. Patel sold 102,603 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $80.35, for a total transaction of $8,244,151.05. Following the completion of the sale, the insider now directly owns 163,680 shares in the company, valued at $13,151,688. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

NRG Energy Stock Up 0.7 %

Shares of NYSE NRG traded up $0.54 on Tuesday, hitting $81.32. The company had a trading volume of 2,140,285 shares, compared to its average volume of 3,394,281. The firm has a market capitalization of $16.95 billion, a P/E ratio of 11.52 and a beta of 1.10. The company has a quick ratio of 1.11, a current ratio of 1.18 and a debt-to-equity ratio of 3.51. NRG Energy, Inc. has a 12-month low of $36.61 and a 12-month high of $87.58. The business has a 50 day moving average of $78.31 and a two-hundred day moving average of $75.85.

NRG Energy (NYSE:NRG) last issued its quarterly earnings data on Thursday, August 8th. The utilities provider reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $1.82. The company had revenue of $6.66 billion during the quarter, compared to the consensus estimate of $8.32 billion. NRG Energy had a net margin of 7.19% and a return on equity of 43.69%. NRG Energy’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the company earned $1.10 earnings per share. As a group, equities research analysts forecast that NRG Energy, Inc. will post 4.45 earnings per share for the current fiscal year.

NRG Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were issued a $0.4075 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.63 dividend on an annualized basis and a yield of 2.00%. NRG Energy’s dividend payout ratio is currently 23.09%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NRG. Wells Fargo & Company increased their price target on shares of NRG Energy from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. Morgan Stanley increased their target price on NRG Energy from $70.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 28th. Jefferies Financial Group initiated coverage on NRG Energy in a research report on Friday. They set a “hold” rating and a $82.00 price target for the company. Finally, StockNews.com downgraded NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, NRG Energy presently has an average rating of “Hold” and an average target price of $73.75.

Hedge Funds Weigh In On NRG Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NRG. LifeSteps Financial Inc. acquired a new position in shares of NRG Energy in the first quarter worth about $31,000. Rothschild Investment LLC acquired a new position in shares of NRG Energy in the 2nd quarter valued at approximately $32,000. Mather Group LLC. purchased a new position in shares of NRG Energy during the 1st quarter valued at approximately $33,000. First Horizon Advisors Inc. grew its position in shares of NRG Energy by 76.1% during the second quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider’s stock worth $34,000 after buying an additional 191 shares in the last quarter. Finally, Crewe Advisors LLC acquired a new stake in shares of NRG Energy during the first quarter worth approximately $36,000. 97.72% of the stock is owned by hedge funds and other institutional investors.

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.