Spirit of America Management Corp NY Takes $39,000 Position in NRG Energy, Inc. (NYSE:NRG)

Spirit of America Management Corp NY purchased a new position in shares of NRG Energy, Inc. (NYSE:NRG) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 500 shares of the utilities provider’s stock, valued at approximately $39,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Secure Asset Management LLC purchased a new stake in NRG Energy in the 2nd quarter valued at about $453,000. New York State Teachers Retirement System lifted its holdings in NRG Energy by 4.6% during the second quarter. New York State Teachers Retirement System now owns 247,225 shares of the utilities provider’s stock worth $19,249,000 after acquiring an additional 10,796 shares during the period. Private Advisory Group LLC purchased a new position in NRG Energy in the second quarter worth $3,142,000. Byrne Asset Management LLC grew its stake in NRG Energy by 843.1% in the 2nd quarter. Byrne Asset Management LLC now owns 12,025 shares of the utilities provider’s stock valued at $946,000 after purchasing an additional 10,750 shares during the period. Finally, Fifth Third Bancorp increased its position in shares of NRG Energy by 1.2% during the 2nd quarter. Fifth Third Bancorp now owns 16,962 shares of the utilities provider’s stock valued at $1,321,000 after purchasing an additional 198 shares during the last quarter. 97.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on NRG. StockNews.com raised shares of NRG Energy from a “hold” rating to a “buy” rating in a report on Sunday. Morgan Stanley boosted their target price on shares of NRG Energy from $70.00 to $83.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 28th. BMO Capital Markets raised their price target on shares of NRG Energy from $73.00 to $82.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 8th. Finally, Wells Fargo & Company upped their price objective on NRG Energy from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, May 15th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, NRG Energy has an average rating of “Moderate Buy” and a consensus price target of $71.14.

NRG Energy Stock Performance

NRG Energy stock traded up $1.65 during mid-day trading on Friday, reaching $83.50. The company’s stock had a trading volume of 3,005,542 shares, compared to its average volume of 3,501,706. The company has a market capitalization of $17.41 billion, a P/E ratio of 11.83 and a beta of 1.08. The firm’s fifty day moving average price is $77.87 and its two-hundred day moving average price is $72.53. NRG Energy, Inc. has a 12-month low of $36.61 and a 12-month high of $87.58. The company has a debt-to-equity ratio of 3.61, a quick ratio of 0.95 and a current ratio of 1.01.

NRG Energy (NYSE:NRG) last announced its quarterly earnings results on Thursday, August 8th. The utilities provider reported $3.37 earnings per share for the quarter, beating the consensus estimate of $1.55 by $1.82. The company had revenue of $6.66 billion during the quarter, compared to analysts’ expectations of $8.32 billion. NRG Energy had a return on equity of 42.60% and a net margin of 5.76%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.10 earnings per share. Sell-side analysts predict that NRG Energy, Inc. will post 4.47 EPS for the current fiscal year.

NRG Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were issued a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend was Thursday, August 1st. NRG Energy’s payout ratio is 23.09%.

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.