Jackson Wealth Management LLC Takes $519,000 Position in NRG Energy, Inc. $NRG

by · The Cerbat Gem

Jackson Wealth Management LLC bought a new stake in NRG Energy, Inc. (NYSE:NRG – Free Report) in the 3rd quarter, Holdings Channel.com reports. The fund bought 3,207 shares of the utilities provider’s stock, valued at approximately $519,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Daymark Wealth Partners LLC increased its stake in shares of NRG Energy by 2.2% during the 2nd quarter. Daymark Wealth Partners LLC now owns 2,944 shares of the utilities provider’s stock valued at $473,000 after acquiring an additional 64 shares during the last quarter. Donald L. Hagan LLC grew its holdings in NRG Energy by 2.0% in the second quarter. Donald L. Hagan LLC now owns 3,384 shares of the utilities provider’s stock valued at $543,000 after purchasing an additional 66 shares during the period. Parkside Financial Bank & Trust increased its position in NRG Energy by 6.2% during the second quarter. Parkside Financial Bank & Trust now owns 1,437 shares of the utilities provider’s stock worth $231,000 after purchasing an additional 84 shares during the last quarter. Horizon Investments LLC increased its position in NRG Energy by 3.0% during the first quarter. Horizon Investments LLC now owns 2,908 shares of the utilities provider’s stock worth $276,000 after purchasing an additional 86 shares during the last quarter. Finally, Zions Bancorporation National Association UT raised its stake in NRG Energy by 32.1% during the second quarter. Zions Bancorporation National Association UT now owns 383 shares of the utilities provider’s stock worth $62,000 after purchasing an additional 93 shares during the period. 97.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Melius Research started coverage on shares of NRG Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $308.00 price objective for the company. Scotiabank initiated coverage on NRG Energy in a research note on Monday, September 22nd. They set a “sector outperform” rating and a $212.00 price target for the company. UBS Group assumed coverage on NRG Energy in a research note on Tuesday, December 9th. They issued a “buy” rating and a $211.00 price objective on the stock. Zacks Research downgraded shares of NRG Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 13th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $198.00 price objective on shares of NRG Energy in a research note on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $199.21.

Check Out Our Latest Analysis on NRG Energy

NRG Energy Stock Performance

Shares of NRG opened at $160.14 on Tuesday. The company has a debt-to-equity ratio of 8.45, a current ratio of 1.05 and a quick ratio of 0.99. NRG Energy, Inc. has a 12-month low of $79.57 and a 12-month high of $180.54. The business’s fifty day moving average price is $167.15 and its 200 day moving average price is $159.86. The stock has a market capitalization of $30.69 billion, a PE ratio of 23.94 and a beta of 1.26.

NRG Energy (NYSE:NRG – Get Free Report) last posted its quarterly earnings results on Thursday, November 6th. The utilities provider reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.85. NRG Energy had a net margin of 4.84% and a return on equity of 103.57%. The company had revenue of $7.64 billion for the quarter, compared to the consensus estimate of $7.53 billion. During the same period last year, the firm posted $1.90 EPS. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. Equities research analysts forecast that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, November 3rd were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $1.76 annualized dividend and a dividend yield of 1.1%. NRG Energy’s dividend payout ratio is 26.31%.

NRG Energy declared that its Board of Directors has approved a share repurchase plan on Thursday, November 6th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the utilities provider to purchase up to 9.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Transactions at NRG Energy

In other NRG Energy news, VP Virginia Kinney sold 20,000 shares of NRG Energy stock in a transaction on Friday, November 14th. The stock was sold at an average price of $163.82, for a total transaction of $3,276,400.00. Following the sale, the vice president owned 43,191 shares of the company’s stock, valued at $7,075,549.62. The trade was a 31.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.86% of the stock is owned by company insiders.

About NRG Energy

(Free Report)

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.

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