QRG Capital Management Inc. Purchases 2,240 Shares of NRG Energy, Inc. (NYSE:NRG)

QRG Capital Management Inc. lifted its position in shares of NRG Energy, Inc. (NYSE:NRG) by 4.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,408 shares of the utilities provider’s stock after buying an additional 2,240 shares during the period. QRG Capital Management Inc.’s holdings in NRG Energy were worth $4,501,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NRG. Castle Rock Wealth Management LLC grew its position in NRG Energy by 3.5% during the third quarter. Castle Rock Wealth Management LLC now owns 3,746 shares of the utilities provider’s stock valued at $356,000 after acquiring an additional 126 shares during the last quarter. Park Avenue Securities LLC grew its holdings in shares of NRG Energy by 2.8% during the 3rd quarter. Park Avenue Securities LLC now owns 4,910 shares of the utilities provider’s stock valued at $447,000 after purchasing an additional 134 shares during the last quarter. Asahi Life Asset Management CO. LTD. raised its position in NRG Energy by 3.5% in the 3rd quarter. Asahi Life Asset Management CO. LTD. now owns 4,420 shares of the utilities provider’s stock worth $403,000 after purchasing an additional 150 shares during the period. First Horizon Advisors Inc. lifted its stake in NRG Energy by 76.1% in the second quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 191 shares during the last quarter. Finally, Fifth Third Bancorp boosted its position in NRG Energy by 1.2% during the second quarter. Fifth Third Bancorp now owns 16,962 shares of the utilities provider’s stock valued at $1,321,000 after buying an additional 198 shares during the period. Institutional investors own 97.72% of the company’s stock.

NRG Energy Price Performance

NRG stock opened at $91.28 on Wednesday. The firm has a 50-day moving average of $86.32 and a 200 day moving average of $81.17. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.18 and a quick ratio of 1.11. The company has a market cap of $18.84 billion, a P/E ratio of 9.94, a PEG ratio of 1.30 and a beta of 1.10. NRG Energy, Inc. has a 1 year low of $44.90 and a 1 year high of $96.40.

NRG Energy (NYSE:NRG) last released its earnings results on Thursday, August 8th. The utilities provider reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $1.82. The company had revenue of $6.66 billion during the quarter, compared to analysts’ expectations of $8.32 billion. NRG Energy had a return on equity of 43.69% and a net margin of 7.19%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.10 EPS. On average, sell-side analysts forecast that NRG Energy, Inc. will post 6.17 EPS for the current year.

NRG Energy Announces Dividend

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 given a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Friday, November 1st. NRG Energy’s dividend payout ratio is presently 17.76%.

Insider Buying and Selling

In related news, insider Rasesh M. Patel sold 102,603 shares of the business’s 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.61% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NRG. Guggenheim boosted their target price on NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. StockNews.com downgraded NRG Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Citigroup raised their target price on shares of NRG Energy from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Jefferies Financial Group began coverage on shares of NRG Energy in a report on Friday, September 13th. They set a “hold” rating and a $82.00 price target for the company. 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, October 29th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $89.75.

NRG Energy 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.