Credit Capital Investments LLC Acquires New Holdings in NRG Energy, Inc. $NRG

Credit Capital Investments LLC bought a new position in NRG Energy, Inc. (NYSE:NRG) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,600 shares of the utilities provider’s stock, valued at approximately $257,000.

A number of other hedge funds also recently bought and sold shares of NRG. Daymark Wealth Partners LLC grew its stake in shares of NRG Energy by 2.2% during the 2nd quarter. Daymark Wealth Partners LLC now owns 2,944 shares of the utilities provider’s stock valued at $473,000 after purchasing an additional 64 shares during the period. Donald L. Hagan LLC boosted its holdings in shares of NRG Energy by 2.0% in the second quarter. Donald L. Hagan LLC now owns 3,384 shares of the utilities provider’s stock worth $543,000 after buying an additional 66 shares during the last quarter. Parkside Financial Bank & Trust grew its position in NRG Energy by 6.2% during the second quarter. Parkside Financial Bank & Trust now owns 1,437 shares of the utilities provider’s stock valued at $231,000 after buying an additional 84 shares during the period. Horizon Investments LLC grew its position in NRG Energy by 3.0% during the first quarter. Horizon Investments LLC now owns 2,908 shares of the utilities provider’s stock valued at $276,000 after buying an additional 86 shares during the period. Finally, Zions Bancorporation National Association UT increased its holdings in NRG Energy by 32.1% during the second quarter. Zions Bancorporation National Association UT now owns 383 shares of the utilities provider’s stock valued at $62,000 after buying an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 97.72% of the company’s stock.

NRG Energy Stock Up 3.5%

NYSE NRG opened at $168.50 on Thursday. NRG Energy, Inc. has a 12 month low of $79.57 and a 12 month high of $180.54. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 5.99. The stock has a market cap of $32.29 billion, a PE ratio of 76.24 and a beta of 1.16. The stock’s 50 day moving average is $165.55 and its 200 day moving average is $155.48.

NRG Energy (NYSE:NRG) last released its quarterly earnings data on Thursday, November 6th. The utilities provider reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.85. NRG Energy had a net margin of 1.78% and a return on equity of 88.22%. The firm had revenue of $7.64 billion for the quarter, compared to analysts’ expectations of $7.53 billion. During the same quarter last year, the business posted $1.90 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. Research analysts predict that NRG Energy, Inc. will post 6.36 EPS for the current fiscal year.

NRG Energy declared that its board has authorized a stock repurchase plan on Thursday, November 6th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the utilities provider to buy up to 9.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

NRG Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, November 3rd will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, November 3rd. NRG Energy’s dividend payout ratio is 26.31%.

Insider Buying and Selling at NRG Energy

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

Wall Street Analysts Forecast Growth

NRG has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of NRG Energy from $197.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. BMO Capital Markets boosted their price target on NRG Energy from $185.00 to $195.00 and gave the company a “market perform” rating in a report on Friday, November 7th. Melius Research assumed coverage on NRG Energy in a research report on Wednesday, August 20th. They issued a “buy” rating and a $308.00 price target for the company. Wells Fargo & Company raised NRG Energy to a “strong-buy” rating in a research report on Tuesday, October 28th. Finally, Weiss Ratings raised shares of NRG Energy from a “hold (c)” rating to a “buy (b)” rating in a report on Friday, November 7th. Three analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, NRG Energy presently has a consensus rating of “Buy” and an average price target of $198.31.

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.