Jennison Associates LLC Acquires 246,741 Shares of NRG Energy, Inc. $NRG

Jennison Associates LLC raised its holdings in shares of NRG Energy, Inc. (NYSE:NRG) by 87.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 529,556 shares of the utilities provider’s stock after buying an additional 246,741 shares during the quarter. Jennison Associates LLC’s holdings in NRG Energy were worth $85,036,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Donald L. Hagan LLC lifted its position in NRG Energy by 2.0% during the second quarter. Donald L. Hagan LLC now owns 3,384 shares of the utilities provider’s stock valued at $543,000 after purchasing an additional 66 shares during the last quarter. Horizon Investments LLC boosted its stake in shares of NRG Energy by 3.0% during the 1st quarter. Horizon Investments LLC now owns 2,908 shares of the utilities provider’s stock worth $276,000 after purchasing an additional 86 shares during the period. Mather Group LLC. boosted its stake in shares of NRG Energy by 12.1% during the 1st quarter. Mather Group LLC. now owns 900 shares of the utilities provider’s stock worth $86,000 after purchasing an additional 97 shares during the period. Cullen Frost Bankers Inc. boosted its stake in shares of NRG Energy by 13.0% during the 1st quarter. Cullen Frost Bankers Inc. now owns 904 shares of the utilities provider’s stock worth $86,000 after purchasing an additional 104 shares during the period. Finally, Private Trust Co. NA boosted its stake in shares of NRG Energy by 8.7% during the 1st quarter. Private Trust Co. NA now owns 1,482 shares of the utilities provider’s stock worth $141,000 after purchasing an additional 119 shares during the period. Institutional investors own 97.72% of the company’s stock.

Insider Activity at NRG Energy

In other news, VP Dak Liyanearachchi sold 10,672 shares of the business’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $155.00, for a total value of $1,654,160.00. Following the completion of the sale, the vice president owned 48,571 shares in the company, valued at approximately $7,528,505. The trade was a 18.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.86% of the company’s stock.

NRG Energy Trading Up 3.1%

Shares of NRG opened at $178.08 on Thursday. NRG Energy, Inc. has a 1-year low of $79.57 and a 1-year high of $180.54. The company has a 50-day moving average of $160.78 and a 200 day moving average of $150.55. The firm has a market capitalization of $34.45 billion, a price-to-earnings ratio of 80.58 and a beta of 1.14. The company has a debt-to-equity ratio of 5.99, a current ratio of 0.93 and a quick ratio of 0.88.

NRG Energy (NYSE:NRG) last announced its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $1.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.04). NRG Energy had a net margin of 1.78% and a return on equity of 88.22%. The company had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.63 billion. During the same quarter in the previous year, the business earned $3.37 EPS. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, research analysts expect that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, November 3rd will be issued a dividend of $0.44 per share. The ex-dividend date is Monday, November 3rd. This represents a $1.76 dividend on an annualized basis and a yield of 1.0%. NRG Energy’s dividend payout ratio (DPR) is presently 79.64%.

Analyst Ratings Changes

A number of research firms recently commented on NRG. Scotiabank began coverage on shares of NRG Energy in a research note on Monday, September 22nd. They set a “sector outperform” rating and a $212.00 price target for the company. Zacks Research raised shares of NRG Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. Barclays lifted their price target on shares of NRG Energy from $197.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NRG Energy in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut shares of NRG Energy from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $197.54.

NRG Energy Company 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.