Castle Rock Wealth Management LLC Raises Stock Position in NRG Energy, Inc. (NYSE:NRG)

Castle Rock Wealth Management LLC raised its holdings in shares of NRG Energy, Inc. (NYSE:NRG) by 3.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,746 shares of the utilities provider’s stock after acquiring an additional 126 shares during the quarter. Castle Rock Wealth Management LLC’s holdings in NRG Energy were worth $356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of NRG. Rothschild Investment LLC purchased a new position in shares of NRG Energy during the 2nd quarter valued at $32,000. Mather Group LLC. bought a new stake in NRG Energy in the 1st quarter valued at $33,000. First Horizon Advisors Inc. increased its holdings in NRG Energy by 76.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 191 shares during the last quarter. Crewe Advisors LLC bought a new stake in shares of NRG Energy in the 1st quarter worth about $36,000. Finally, Innealta Capital LLC bought a new stake in shares of NRG Energy in the 2nd quarter worth about $36,000. Hedge funds and other institutional investors own 97.72% of the company’s stock.

NRG Energy Trading Up 2.5 %

Shares of NRG Energy stock opened at $89.75 on Friday. 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, Inc. has a 12-month low of $40.10 and a 12-month high of $96.40. The firm has a market capitalization of $18.52 billion, a price-to-earnings ratio of 9.78 and a beta of 1.10. The firm’s 50 day simple moving average is $83.65 and its two-hundred day simple moving average is $79.16.

NRG Energy (NYSE:NRG) last released its quarterly earnings data on Thursday, August 8th. The utilities provider reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $1.82. The firm had revenue of $6.66 billion for the quarter, compared to analyst estimates of $8.32 billion. NRG Energy had a net margin of 7.19% and a return on equity of 43.69%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.10 earnings per share. Analysts predict that NRG Energy, Inc. will post 5.51 EPS for the current year.

NRG Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a yield of 1.82%. NRG Energy’s dividend payout ratio (DPR) is presently 17.76%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of NRG Energy from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. BMO Capital Markets boosted their price objective on shares of NRG Energy from $88.00 to $90.00 and gave the company a “market perform” rating in a research report on Monday, September 30th. StockNews.com cut shares of NRG Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Guggenheim upped their price target on shares of NRG Energy from $77.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Jefferies Financial Group began coverage on shares of NRG Energy in a research note on Friday, September 13th. They set a “hold” rating and a $82.00 price objective for the company. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $83.25.

Insider Buying and Selling

In related news, insider Rasesh M. Patel sold 102,603 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $80.35, for a total transaction of $8,244,151.05. Following the sale, the insider now directly owns 163,680 shares of the company’s stock, valued at approximately $13,151,688. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.86% of the stock is currently owned by insiders.

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.