Farrow Financial Inc. Acquires 879 Shares of NRG Energy, Inc. (NYSE:NRG)

Farrow Financial Inc. raised its holdings in shares of NRG Energy, Inc. (NYSE:NRG) by 2.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,352 shares of the utilities provider’s stock after acquiring an additional 879 shares during the quarter. NRG Energy makes up 1.9% of Farrow Financial Inc.’s portfolio, making the stock its 16th largest holding. Farrow Financial Inc.’s holdings in NRG Energy were worth $2,947,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC increased its holdings in NRG Energy by 4.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 31,040 shares of the utilities provider’s stock worth $2,101,000 after acquiring an additional 1,383 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of NRG Energy by 885.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 237,444 shares of the utilities provider’s stock worth $16,073,000 after purchasing an additional 213,347 shares in the last quarter. First Trust Direct Indexing L.P. raised its position in shares of NRG Energy by 2.8% during the 1st quarter. First Trust Direct Indexing L.P. now owns 5,813 shares of the utilities provider’s stock valued at $393,000 after purchasing an additional 161 shares during the period. Accel Wealth Management purchased a new position in shares of NRG Energy during the 1st quarter valued at $250,000. Finally, Commonwealth Equity Services LLC boosted its holdings in NRG Energy by 30.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 55,738 shares of the utilities provider’s stock worth $3,773,000 after buying an additional 13,079 shares during the period. Institutional investors own 97.72% of the company’s stock.

NRG Energy Trading Down 2.0 %

NYSE NRG traded down $1.75 on Friday, hitting $87.53. 3,079,307 shares of the stock were exchanged, compared to its average volume of 3,307,178. NRG Energy, Inc. has a 52-week low of $41.49 and a 52-week high of $96.40. The firm has a market capitalization of $18.25 billion, a P/E ratio of 12.40 and a beta of 1.10. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.11 and a current ratio of 1.18. The stock has a fifty day moving average price of $85.63 and a two-hundred day moving average price of $80.43.

NRG Energy (NYSE:NRG) last issued its quarterly earnings results on Thursday, August 8th. The utilities provider reported $3.37 EPS for the quarter, beating the consensus estimate of $1.55 by $1.82. The company had revenue of $6.66 billion for the quarter, compared to the consensus estimate of $8.32 billion. NRG Energy had a net margin of 7.19% and a return on equity of 43.69%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.10 EPS. Research analysts forecast that NRG Energy, Inc. will post 5.51 EPS for the current fiscal year.

NRG Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a $0.4075 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.63 dividend on an annualized basis and a yield of 1.86%. NRG Energy’s payout ratio is 23.09%.

Insider Transactions at NRG Energy

In other news, insider Rasesh M. Patel sold 102,603 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $80.35, for a total value of $8,244,151.05. Following the transaction, the insider now directly owns 163,680 shares in the company, valued at approximately $13,151,688. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on NRG shares. Guggenheim raised their price target on NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Wells Fargo & Company lifted their target price on NRG Energy from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. Jefferies Financial Group assumed coverage on shares of NRG Energy in a report on Friday, September 13th. They set a “hold” rating and a $82.00 price objective for the company. StockNews.com downgraded shares of NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Finally, BMO Capital Markets raised their target price on shares of NRG Energy from $88.00 to $90.00 and gave the company a “market perform” rating in a research note on Monday, September 30th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $83.25.

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.