Creative Planning Acquires 67,063 Shares of NRG Energy, Inc. (NYSE:NRG)

Creative Planning increased its holdings in shares of NRG Energy, Inc. (NYSE:NRG) by 93.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 138,461 shares of the utilities provider’s stock after purchasing an additional 67,063 shares during the quarter. Creative Planning’s holdings in NRG Energy were worth $10,781,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of NRG. LifeSteps Financial Inc. bought a new stake in shares of NRG Energy during the first quarter worth $31,000. Rothschild Investment LLC acquired a new position in NRG Energy in the 2nd quarter worth $32,000. Mather Group LLC. bought a new position in NRG Energy during the 1st quarter worth about $33,000. First Horizon Advisors Inc. raised its stake in shares of NRG Energy by 76.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 191 shares during the period. Finally, Crewe Advisors LLC acquired a new position in shares of NRG Energy during the first quarter worth about $36,000. 97.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NRG Energy

In other news, insider Rasesh M. Patel sold 102,603 shares of NRG Energy stock in a transaction 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 owns 163,680 shares of the company’s stock, valued at $13,151,688. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.86% of the stock is owned by company insiders.

NRG Energy Price Performance

NYSE:NRG opened at $92.65 on Wednesday. NRG Energy, Inc. has a 12-month low of $36.61 and a 12-month high of $93.17. The firm has a market capitalization of $19.32 billion, a price-to-earnings ratio of 13.12 and a beta of 1.10. The stock’s 50 day moving average price is $80.69 and its two-hundred day moving average price is $77.92. 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 (NYSE:NRG) last posted its quarterly earnings results on Thursday, August 8th. The utilities provider reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $1.82. NRG Energy had a return on equity of 43.69% and a net margin of 7.19%. The business had revenue of $6.66 billion for the quarter, compared to analysts’ expectations of $8.32 billion. During the same quarter in the prior year, the business earned $1.10 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, analysts anticipate that NRG Energy, Inc. will post 5.51 earnings per share for the current year.

NRG Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were issued a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a dividend yield of 1.76%. The ex-dividend date was Thursday, August 1st. NRG Energy’s payout ratio is 23.09%.

Wall Street Analyst Weigh In

NRG has been the topic of a number of recent research reports. BMO Capital Markets lifted their target price on NRG Energy from $88.00 to $90.00 and gave the company a “market perform” rating in a research report on Monday. Jefferies Financial Group started coverage on shares of NRG Energy in a research report on Friday, September 13th. They issued a “hold” rating and a $82.00 price objective on the stock. Wells Fargo & Company raised their target price on shares of NRG Energy from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Finally, StockNews.com cut shares of NRG Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $74.75.

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.