OVERSEA CHINESE BANKING Corp Ltd Acquires Shares of 3,241 NRG Energy, Inc. $NRG

OVERSEA CHINESE BANKING Corp Ltd bought a new stake in NRG Energy, Inc. (NYSE:NRG) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,241 shares of the utilities provider’s stock, valued at approximately $525,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Quent Capital LLC acquired a new stake in NRG Energy during the 3rd quarter worth approximately $25,000. Toth Financial Advisory Corp purchased a new stake in shares of NRG Energy during the second quarter worth approximately $27,000. Bank of Jackson Hole Trust acquired a new stake in shares of NRG Energy during the second quarter worth $28,000. Fourth Dimension Wealth LLC purchased a new position in NRG Energy in the 2nd quarter valued at $32,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in NRG Energy during the 2nd quarter worth $35,000. Institutional investors and hedge funds own 97.72% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $198.00 target price on shares of NRG Energy in a report on Monday, October 20th. BMO Capital Markets boosted their target price on NRG Energy from $185.00 to $195.00 and gave the stock a “market perform” rating in a research report on Friday, November 7th. Zacks Research cut NRG Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 13th. Morgan Stanley restated an “underperform” rating on shares of NRG Energy in a research note on Thursday, November 20th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of NRG Energy in a research report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $199.21.

NRG Energy Stock Performance

Shares of NRG stock opened at $158.49 on Friday. 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 stock has a market cap of $30.37 billion, a PE ratio of 23.69 and a beta of 1.25. NRG Energy, Inc. has a 1 year low of $79.57 and a 1 year high of $180.54. The stock has a fifty day moving average price of $161.32 and a 200 day moving average price of $160.03.

NRG Energy (NYSE:NRG) last released its quarterly earnings data on Thursday, November 6th. The utilities provider reported $2.78 EPS for the quarter, topping the consensus estimate of $1.93 by $0.85. NRG Energy had a net margin of 4.84% and a return on equity of 103.57%. The business had revenue of $7.64 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same period in the previous year, the firm earned $1.90 EPS. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. Sell-side analysts forecast that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy Announces Dividend

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

NRG Energy announced that its board has approved a stock buyback program on Thursday, November 6th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the utilities provider to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, VP Virginia Kinney sold 20,000 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $163.82, for a total value of $3,276,400.00. Following the completion of the transaction, the vice president owned 43,191 shares of the company’s stock, valued at approximately $7,075,549.62. The trade was a 31.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Robert J. Gaudette sold 45,000 shares of the company’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $158.76, for a total transaction of $7,144,200.00. Following the completion of the transaction, the vice president owned 63,920 shares in the company, valued at approximately $10,147,939.20. This trade represents a 41.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 192,556 shares of company stock worth $30,826,846. 0.86% of the stock is currently owned by corporate insiders.

NRG Energy Profile

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.