Central Asset Investments & Management Holdings HK Ltd Invests $362,000 in NRG Energy, Inc. (NYSE:NRG)

Central Asset Investments & Management Holdings HK Ltd bought a new position in shares of NRG Energy, Inc. (NYSE:NRG) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,650 shares of the utilities provider’s stock, valued at approximately $362,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rothschild Investment LLC acquired a new stake in shares of NRG Energy during the second quarter worth about $32,000. First Horizon Advisors Inc. increased 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 purchasing an additional 191 shares in the last quarter. LifeSteps Financial Inc. acquired a new stake in shares of NRG Energy during the first quarter worth about $31,000. Innealta Capital LLC acquired a new stake in shares of NRG Energy during the second quarter worth about $36,000. Finally, Mather Group LLC. acquired a new stake in shares of NRG Energy during the first quarter worth about $33,000. Institutional investors and hedge funds own 97.72% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on NRG. Wells Fargo & Company raised their price target on NRG Energy from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. StockNews.com lowered NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Jefferies Financial Group began coverage on NRG Energy in a report on Friday, September 13th. They set a “hold” rating and a $82.00 price target on the stock. Finally, Morgan Stanley raised their price target on NRG Energy from $70.00 to $83.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 28th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, NRG Energy presently has an average rating of “Hold” and an average price target of $73.75.

NRG Energy Price Performance

Shares of NRG opened at $81.32 on Wednesday. NRG Energy, Inc. has a twelve month low of $36.61 and a twelve month high of $87.58. The stock’s 50 day moving average is $78.31 and its two-hundred day moving average is $75.85. The firm has a market capitalization of $16.95 billion, a PE ratio of 11.52 and a beta of 1.10. The company has a current ratio of 1.18, a quick ratio of 1.11 and a debt-to-equity ratio of 3.51.

NRG Energy (NYSE:NRG) last announced its quarterly earnings data 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 company had revenue of $6.66 billion for the quarter, compared to analyst estimates of $8.32 billion. During the same quarter in the previous year, the company earned $1.10 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. Research analysts anticipate that NRG Energy, Inc. will post 4.45 earnings per share for the current year.

NRG Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were paid a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Thursday, August 1st. NRG Energy’s dividend payout ratio (DPR) is 23.09%.

Insider Transactions at NRG Energy

In other news, insider Rasesh M. Patel sold 102,603 shares of the business’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 sale, the insider now owns 163,680 shares of the company’s stock, valued at approximately $13,151,688. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.86% of the company’s stock.

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.