Meyer Handelman Co. Takes $5 Million Position in NRG Energy, Inc. (NYSE:NRG)

Meyer Handelman Co. bought a new position in shares of NRG Energy, Inc. (NYSE:NRG) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 54,920 shares of the utilities provider’s stock, valued at approximately $5,003,000.

A number of other institutional investors also recently made changes to their positions in NRG. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in NRG Energy in the third quarter valued at approximately $36,000. Rothschild Investment LLC acquired a new stake in NRG Energy in the 2nd quarter valued at $32,000. First Horizon Advisors Inc. increased its holdings in NRG Energy by 76.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 191 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of NRG Energy during the second quarter worth about $36,000. Finally, Mather Group LLC. purchased a new stake in shares of NRG Energy in the first quarter worth about $33,000. 97.72% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Rasesh M. Patel sold 102,603 shares of NRG Energy stock in a transaction on Friday, September 13th. The shares were sold at an average price of $80.35, for a total transaction of $8,244,151.05. Following the transaction, the insider now directly owns 163,680 shares of the company’s stock, valued at $13,151,688. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

NRG has been the topic of a number of recent research reports. Wells Fargo & Company boosted their target price on shares of NRG Energy from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. StockNews.com lowered NRG Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Guggenheim increased their price target on NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday. Jefferies Financial Group initiated coverage on shares of NRG Energy in a research report on Friday, September 13th. They issued a “hold” rating and a $82.00 target price for the company. Finally, BMO Capital Markets increased their price target on shares of NRG Energy from $88.00 to $90.00 and gave the stock a “market perform” rating in a research report on Monday, September 30th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $83.25.

NRG Energy Price Performance

Shares of NYSE:NRG opened at $89.75 on Friday. The company has a market cap of $18.52 billion, a P/E ratio of 9.78 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 company’s fifty day moving average is $83.65 and its two-hundred day moving average is $79.16. NRG Energy, Inc. has a 12-month low of $40.10 and a 12-month high of $96.40.

NRG Energy (NYSE:NRG) last posted its earnings results on Thursday, August 8th. The utilities provider reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $1.82. The business had revenue of $6.66 billion for the quarter, compared to analyst estimates of $8.32 billion. NRG Energy had a net margin of 7.19% and a return on equity of 43.69%. NRG Energy’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business posted $1.10 EPS. Equities analysts expect that NRG Energy, Inc. will post 5.51 earnings per share for the current fiscal year.

NRG Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders 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 1.82%. NRG Energy’s dividend payout ratio (DPR) is currently 17.76%.

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.