Spirit of America Management Corp NY Grows Position in NRG Energy, Inc. (NYSE:NRG)

Spirit of America Management Corp NY lifted its holdings in shares of NRG Energy, Inc. (NYSE:NRG) by 100.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,000 shares of the utilities provider’s stock after purchasing an additional 500 shares during the quarter. Spirit of America Management Corp NY’s holdings in NRG Energy were worth $91,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of NRG Energy by 885.4% during 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 during the last quarter. Quadrature Capital Ltd boosted its holdings in shares of NRG Energy by 148.6% during the first quarter. Quadrature Capital Ltd now owns 21,814 shares of the utilities provider’s stock worth $1,477,000 after purchasing an additional 13,040 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of NRG Energy by 104.5% during the first quarter. Cetera Investment Advisers now owns 73,865 shares of the utilities provider’s stock worth $5,000,000 after purchasing an additional 37,750 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of NRG Energy by 65.8% during the second quarter. Assenagon Asset Management S.A. now owns 1,596,684 shares of the utilities provider’s stock worth $124,318,000 after purchasing an additional 633,765 shares during the last quarter. Finally, Friedenthal Financial acquired a new stake in shares of NRG Energy during the second quarter worth $746,000. Institutional investors and hedge funds own 97.72% of the company’s stock.

NRG Energy Trading Down 2.0 %

Shares of NRG opened at $87.52 on Friday. The stock’s 50-day moving average is $85.63 and its two-hundred day moving average is $80.43. The stock has a market cap of $18.25 billion, a PE ratio of 12.40 and a beta of 1.10. NRG Energy, Inc. has a 12 month low of $41.49 and a 12 month high of $96.40. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.18 and a quick ratio of 1.11.

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

NRG Energy Announces Dividend

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

Insider Buying and Selling

In related news, insider Rasesh M. Patel sold 102,603 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $80.35, for a total value of $8,244,151.05. Following the transaction, the insider now owns 163,680 shares in the company, valued at approximately $13,151,688. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.86% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. BMO Capital Markets raised their price objective on NRG Energy from $88.00 to $90.00 and gave the stock a “market perform” rating in a report on Monday, September 30th. 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 report on Thursday, September 5th. Guggenheim lifted their target price on NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. StockNews.com cut NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Finally, Jefferies Financial Group initiated coverage on NRG Energy in a report on Friday, September 13th. They issued a “hold” rating and a $82.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $83.25.

NRG Energy Profile

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.