Picton Mahoney Asset Management Acquires Shares of 47,179 NRG Energy, Inc. (NYSE:NRG)

Picton Mahoney Asset Management acquired a new stake in NRG Energy, Inc. (NYSE:NRG) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 47,179 shares of the utilities provider’s stock, valued at approximately $3,674,000.

Other large investors also recently made changes to their positions in the company. Gotham Asset Management LLC increased its holdings in NRG Energy by 93.1% during the fourth quarter. Gotham Asset Management LLC now owns 357,618 shares of the utilities provider’s stock worth $18,489,000 after buying an additional 172,400 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of NRG Energy by 885.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 237,444 shares of the utilities provider’s stock worth $16,073,000 after acquiring an additional 213,347 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of NRG Energy by 156.4% in the 4th quarter. Franklin Resources Inc. now owns 269,749 shares of the utilities provider’s stock worth $13,946,000 after acquiring an additional 164,543 shares during the last quarter. Quarry LP raised its holdings in NRG Energy by 784.3% during the 4th quarter. Quarry LP now owns 10,912 shares of the utilities provider’s stock valued at $564,000 after buying an additional 9,678 shares during the last quarter. Finally, Quadrature Capital Ltd raised its holdings in NRG Energy by 148.6% during the 1st quarter. Quadrature Capital Ltd now owns 21,814 shares of the utilities provider’s stock valued at $1,477,000 after buying an additional 13,040 shares during the last quarter. 97.72% of the stock is owned by institutional investors.

NRG Energy Stock Up 2.9 %

NRG Energy stock traded up $2.39 during trading hours on Friday, reaching $85.01. The stock had a trading volume of 2,503,766 shares, compared to its average volume of 3,029,886. NRG Energy, Inc. has a 52 week low of $36.61 and a 52 week high of $87.58. 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 $17.54 billion, a price-to-earnings ratio of 12.04 and a beta of 1.08. The business’s 50 day moving average price is $78.19 and its 200-day moving average price is $73.61.

NRG Energy (NYSE:NRG) last issued its quarterly earnings results on Thursday, August 8th. The utilities provider reported $3.37 earnings per share for the quarter, topping the consensus estimate of $1.55 by $1.82. NRG Energy had a net margin of 7.19% and a return on equity of 43.69%. The company had revenue of $6.66 billion for the quarter, compared to the consensus estimate of $8.32 billion. During the same quarter in the prior year, the company earned $1.10 EPS. NRG Energy’s quarterly revenue was up 4.9% on a year-over-year basis. Sell-side analysts anticipate that NRG Energy, Inc. will post 4.45 EPS for the current year.

NRG Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were given a dividend of $0.4075 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.63 dividend on an annualized basis and a dividend yield of 1.92%. NRG Energy’s dividend payout ratio (DPR) is 23.09%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NRG. Wells Fargo & Company boosted their price objective on shares of NRG Energy from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th. StockNews.com upgraded shares of NRG Energy from a “hold” rating to a “buy” rating in a research note on Sunday, August 25th. BMO Capital Markets raised their price objective on shares of NRG Energy from $73.00 to $82.00 and gave the stock a “market perform” rating in a report on Wednesday, May 8th. Finally, Morgan Stanley raised their price objective on shares of NRG Energy from $70.00 to $83.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 28th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, NRG Energy has a consensus rating of “Moderate Buy” and an average target price of $71.14.

About NRG Energy

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.