Voya Investment Management LLC Has $7.82 Million Stock Position in NRG Energy, Inc. $NRG

by · The Markets Daily

Voya Investment Management LLC cut its position in NRG Energy, Inc. (NYSE:NRG – Free Report) by 60.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 48,287 shares of the utilities provider’s stock after selling 73,420 shares during the quarter. Voya Investment Management LLC’s holdings in NRG Energy were worth $7,820,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in NRG Energy by 41.8% in the fourth quarter. Brighton Jones LLC now owns 5,187 shares of the utilities provider’s stock worth $468,000 after acquiring an additional 1,528 shares in the last quarter. CW Advisors LLC raised its position in shares of NRG Energy by 16.4% during the first quarter. CW Advisors LLC now owns 4,525 shares of the utilities provider’s stock worth $434,000 after purchasing an additional 637 shares during the period. Kestra Advisory Services LLC lifted its holdings in shares of NRG Energy by 2.1% in the 1st quarter. Kestra Advisory Services LLC now owns 27,922 shares of the utilities provider’s stock worth $2,665,000 after purchasing an additional 563 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in NRG Energy by 54.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,904 shares of the utilities provider’s stock valued at $373,000 after purchasing an additional 1,369 shares during the period. Finally, Jump Financial LLC increased its stake in NRG Energy by 23.3% during the 1st quarter. Jump Financial LLC now owns 8,303 shares of the utilities provider’s stock valued at $793,000 after purchasing an additional 1,569 shares in the last quarter. 97.72% of the stock is owned by institutional investors.

NRG Energy Trading Up 0.7%

NYSE:NRG opened at $158.00 on Wednesday. NRG Energy, Inc. has a 52 week low of $79.57 and a 52 week high of $180.54. The firm has a 50-day moving average price of $166.00 and a two-hundred day moving average price of $159.80. The company has a debt-to-equity ratio of 8.45, a quick ratio of 0.99 and a current ratio of 1.05. The firm has a market cap of $30.28 billion, a price-to-earnings ratio of 23.62 and a beta of 1.26.

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

NRG Energy announced that its Board of Directors has initiated a stock buyback program on Thursday, November 6th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the utilities provider to buy up to 9.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

NRG Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, November 3rd were given 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 (DPR) is currently 26.31%.

Insider Buying and Selling at NRG Energy

In related news, VP Virginia Kinney sold 20,000 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $163.82, for a total transaction of $3,276,400.00. Following the completion of the transaction, the vice president owned 43,191 shares in the company, valued at approximately $7,075,549.62. This represents a 31.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

NRG has been the subject of a number of analyst reports. Scotiabank started coverage on shares of NRG Energy in a report on Monday, September 22nd. They set a “sector outperform” rating and a $212.00 price objective for the company. Wells Fargo & Company upgraded NRG Energy to a “strong-buy” rating in a research note on Tuesday, October 28th. Morgan Stanley reissued an “underperform” rating on shares of NRG Energy in a report on Thursday, November 20th. Zacks Research lowered NRG Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 13th. Finally, UBS Group assumed coverage on NRG Energy in a research report on Tuesday, December 9th. They set a “buy” rating and a $211.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, NRG Energy has an average rating of “Moderate Buy” and an average price target of $199.21.

View Our Latest Report on NRG Energy

About NRG Energy

(Free Report)

NRG Energy (NYSE: NRG) is a U.S.-based integrated power company headquartered in Houston, Texas. The company develops, owns and operates a diversified portfolio of power generation assets and participates in wholesale and retail energy markets. NRG supplies electricity to utilities, commercial and industrial customers, and retail consumers, while also providing energy-related products and services designed to manage consumption and support reliability.

NRG’s generation mix includes conventional thermal plants as well as renewable and distributed energy resources.

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