12,278 Shares in NRG Energy, Inc. $NRG Bought by L2 Asset Management LLC

L2 Asset Management LLC acquired a new position in NRG Energy, Inc. (NYSE:NRG) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 12,278 shares of the utilities provider’s stock, valued at approximately $1,988,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its holdings in shares of NRG Energy by 0.6% in the 3rd quarter. Invesco Ltd. now owns 4,880,954 shares of the utilities provider’s stock worth $790,471,000 after purchasing an additional 31,238 shares during the last quarter. Holocene Advisors LP increased its holdings in shares of NRG Energy by 113.3% in the 2nd quarter. Holocene Advisors LP now owns 1,444,271 shares of the utilities provider’s stock worth $231,921,000 after acquiring an additional 767,014 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of NRG Energy by 42.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,368,824 shares of the utilities provider’s stock worth $221,671,000 after acquiring an additional 409,776 shares during the period. Schroder Investment Management Group lifted its position in NRG Energy by 7.6% in the 3rd quarter. Schroder Investment Management Group now owns 1,225,329 shares of the utilities provider’s stock valued at $198,442,000 after purchasing an additional 86,528 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in NRG Energy by 2.1% during the 2nd quarter. Legal & General Group Plc now owns 975,218 shares of the utilities provider’s stock valued at $156,601,000 after purchasing an additional 19,997 shares during the period. Institutional investors own 97.72% of the company’s stock.

Insider Transactions at NRG Energy

In other NRG Energy news, VP Brian Curci sold 46,976 shares of the business’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $158.84, for a total transaction of $7,461,667.84. Following the sale, the vice president directly owned 46,113 shares of the company’s stock, valued at $7,324,588.92. The trade was a 50.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert J. Gaudette sold 45,000 shares of NRG Energy stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $158.76, for a total value of $7,144,200.00. Following the transaction, the vice president owned 63,920 shares in the company, valued at $10,147,939.20. This represents a 41.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 172,556 shares of company stock valued at $27,550,446 in the last three months. 0.61% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on NRG shares. UBS Group initiated coverage on shares of NRG Energy in a research note on Tuesday, December 9th. They issued a “buy” rating and a $211.00 price target on the stock. The Goldman Sachs Group initiated coverage on NRG Energy in a report on Friday, March 6th. They issued a “buy” rating and a $197.00 price objective for the company. Evercore began coverage on NRG Energy in a research report on Wednesday, February 25th. They issued an “outperform” rating and a $215.00 target price on the stock. Zacks Research raised NRG Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, February 23rd. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $225.00 price target on shares of NRG Energy in a research note on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $196.33.

NRG Energy Stock Performance

NYSE:NRG opened at $152.66 on Tuesday. The company has a 50-day moving average of $158.83 and a 200-day moving average of $161.89. The firm has a market cap of $32.70 billion, a price-to-earnings ratio of 38.75 and a beta of 1.26. The company has a current ratio of 1.64, a quick ratio of 1.58 and a debt-to-equity ratio of 15.92. NRG Energy, Inc. has a twelve month low of $79.57 and a twelve month high of $189.96.

NRG Energy (NYSE:NRG) last released its earnings results on Tuesday, February 24th. The utilities provider reported $1.04 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.15). The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $6.68 billion. NRG Energy had a net margin of 2.81% and a return on equity of 109.48%. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.56 earnings per share. Analysts forecast that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd were given a dividend of $0.475 per share. This is a boost from NRG Energy’s previous quarterly dividend of $0.44. The ex-dividend date was Monday, February 2nd. This represents a $1.90 dividend on an annualized basis and a dividend yield of 1.2%. NRG Energy’s payout ratio is currently 48.22%.

About NRG Energy

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.