34,944 Shares in NRG Energy, Inc. (NYSE:NRG) Bought by L & S Advisors Inc

L & S Advisors Inc purchased a new stake in shares of NRG Energy, Inc. (NYSE:NRG) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 34,944 shares of the utilities provider’s stock, valued at approximately $2,721,000.

A number of other large investors also recently modified their holdings of NRG. First Trust Direct Indexing L.P. lifted its stake in NRG Energy by 2.8% in the first quarter. First Trust Direct Indexing L.P. now owns 5,813 shares of the utilities provider’s stock valued at $393,000 after buying an additional 161 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its position in NRG Energy by 0.8% in the first quarter. Kingswood Wealth Advisors LLC now owns 23,267 shares of the utilities provider’s stock worth $1,575,000 after purchasing an additional 174 shares during the period. Czech National Bank increased its position in shares of NRG Energy by 0.5% during the 1st quarter. Czech National Bank now owns 39,723 shares of the utilities provider’s stock valued at $2,689,000 after purchasing an additional 181 shares during the period. First Horizon Advisors Inc. lifted its holdings in shares of NRG Energy by 76.1% in the second quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider’s stock valued at $34,000 after buying an additional 191 shares during the period. Finally, Fifth Third Bancorp raised its position in NRG Energy by 1.2% in the second quarter. Fifth Third Bancorp now owns 16,962 shares of the utilities provider’s stock worth $1,321,000 after acquiring an additional 198 shares in the last quarter. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NRG has been the subject of several analyst reports. StockNews.com downgraded NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Wells Fargo & Company lifted their price target on NRG Energy from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. Morgan Stanley increased their price target on shares of NRG Energy from $70.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 28th. Finally, Jefferies Financial Group initiated coverage on NRG Energy in a report on Friday. They set a “hold” rating and a $82.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $73.75.

NRG Energy Stock Performance

NRG Energy stock opened at $80.77 on Tuesday. NRG Energy, Inc. has a 12-month low of $36.61 and a 12-month high of $87.58. The stock has a market capitalization of $16.84 billion, a price-to-earnings ratio of 11.44 and a beta of 1.10. The company has a quick ratio of 1.11, a current ratio of 1.18 and a debt-to-equity ratio of 3.51. The stock has a 50-day simple moving average of $78.31 and a 200 day simple moving average of $75.85.

NRG Energy (NYSE:NRG) last released its earnings results 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 company had revenue of $6.66 billion during the quarter, compared to the consensus estimate 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 company posted $1.10 earnings per share. On average, research analysts anticipate that NRG Energy, Inc. will post 4.45 earnings per share for the current fiscal year.

NRG Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were paid a $0.4075 dividend. This represents a $1.63 annualized dividend and a yield of 2.02%. The ex-dividend date was Thursday, August 1st. NRG Energy’s payout ratio is 23.09%.

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.