Mirae Asset Global Investments Co. Ltd. Purchases 55,376 Shares of NRG Energy, Inc. $NRG

Mirae Asset Global Investments Co. Ltd. acquired a new position in NRG Energy, Inc. (NYSE:NRG) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 55,376 shares of the utilities provider’s stock, valued at approximately $5,297,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Vise Technologies Inc. grew its position in shares of NRG Energy by 17.6% in the third quarter. Vise Technologies Inc. now owns 34,414 shares of the utilities provider’s stock valued at $3,292,000 after purchasing an additional 5,147 shares during the last quarter. Aprio Wealth Management LLC increased its stake in shares of NRG Energy by 7.6% during the 3rd quarter. Aprio Wealth Management LLC now owns 3,773 shares of the utilities provider’s stock worth $361,000 after purchasing an additional 267 shares in the last quarter. Heritage Wealth Management Inc. acquired a new position in shares of NRG Energy during the 3rd quarter worth approximately $856,000. Essential Investment Partners LLC acquired a new position in shares of NRG Energy during the 3rd quarter worth approximately $210,000. Finally, North Dakota State Investment Board raised its position in shares of NRG Energy by 2.4% during the 3rd quarter. North Dakota State Investment Board now owns 6,231 shares of the utilities provider’s stock worth $596,000 after purchasing an additional 144 shares during the last quarter. 97.72% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NRG Energy

In other news, CAO Gerald Alfred Spencer sold 1,580 shares of the firm’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $120.93, for a total transaction of $191,069.40. Following the sale, the chief accounting officer owned 6,213 shares in the company, valued at $751,338.09. This trade represents a 20.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

NRG has been the topic of a number of recent research reports. BNP Paribas Exane set a $221.00 target price on NRG Energy in a research note on Wednesday, August 19th. UBS Group reissued a “strong-buy” rating and set a $152.00 price target on shares of NRG Energy in a research report on Wednesday, October 21st. Weiss Ratings raised NRG Energy from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 9th. Williams Trading set a $165.00 price objective on NRG Energy in a research report on Wednesday, October 21st. Finally, Seaport Research Partners set a $160.00 price objective on NRG Energy in a research note on Monday, October 19th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $173.56.

NRG Energy Stock Performance

Shares of NYSE NRG opened at $80.70 on Friday. The company has a market cap of $17.03 billion, a PE ratio of 21.35 and a beta of 1.22. NRG Energy, Inc. has a 12 month low of $79.65 and a 12 month high of $189.96. The company has a debt-to-equity ratio of 5.17, a current ratio of 0.97 and a quick ratio of 0.89. The company has a 50-day simple moving average of $102.52 and a 200-day simple moving average of $134.01.

NRG Energy (NYSE:NRG) last announced its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.20). The firm had revenue of $7.48 billion for the quarter, compared to analysts’ expectations of $7.31 billion. NRG Energy had a net margin of 2.56% and a return on equity of 52.95%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.73 EPS. On average, equities analysts anticipate that NRG Energy, Inc. will post 8.62 earnings per share for the current year.

NRG Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 2nd will be paid a dividend of $0.4750 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, November 2nd. NRG Energy’s dividend payout ratio is currently 50.26%.

NRG Energy Profile

NRG Energy, Inc is an integrated power and home services company headquartered in Houston, Texas. The company produces and sells electricity through a diverse generation portfolio that includes natural gas, coal, nuclear power, renewable energy and battery storage. NRG serves wholesale and retail energy markets, with operations and customers primarily in the United States and Canada.

Through retail brands including Reliant and Direct Energy, NRG provides electricity, natural gas and related energy products to residential, commercial and industrial customers.