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Forum Financial Management LP Has $222,000 Holdings in NRG Energy, Inc. (NYSE:NRG)

Financial News Live · Jan 29, 2023 11:21

Forum Financial Management LP boosted its holdings in shares of NRG Energy, Inc. (NYSE:NRG – Get Rating) by 7.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,790 shares of the utilities provider's stock after buying an additional 414 shares during the quarter. Forum Financial Management LP's holdings in NRG Energy were worth $222,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NRG. Raymond James Financial Services Advisors Inc. raised its stake in shares of NRG Energy by 6.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 39,743 shares of the utilities provider's stock valued at $1,525,000 after acquiring an additional 2,422 shares in the last quarter. US Bancorp DE boosted its holdings in shares of NRG Energy by 12.7% during the 1st quarter. US Bancorp DE now owns 15,350 shares of the utilities provider's stock worth $589,000 after buying an additional 1,727 shares during the period. Rhumbline Advisers grew its stake in NRG Energy by 6.2% in the 1st quarter. Rhumbline Advisers now owns 427,433 shares of the utilities provider's stock valued at $16,396,000 after buying an additional 24,792 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in NRG Energy by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,760 shares of the utilities provider's stock worth $1,257,000 after acquiring an additional 2,028 shares during the period. Finally, Great West Life Assurance Co. Can lifted its position in NRG Energy by 6.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 229,581 shares of the utilities provider's stock worth $9,243,000 after acquiring an additional 14,574 shares during the last quarter. 99.98% of the stock is currently owned by institutional investors.

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NRG Energy Price Performance

Shares of NRG Energy stock opened at $33.75 on Friday. NRG Energy, Inc. has a twelve month low of $30.64 and a twelve month high of $47.82. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.27 and a current ratio of 1.32. The firm has a market cap of $7.78 billion, a P/E ratio of 4.28, a price-to-earnings-growth ratio of 0.56 and a beta of 0.93. The firm's 50-day simple moving average is $34.41 and its 200-day simple moving average is $38.76.

NRG Energy (NYSE:NRG – Get Rating) last released its quarterly earnings data on Monday, November 7th. The utilities provider reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.35). The company had revenue of $8.51 billion during the quarter, compared to the consensus estimate of $5.90 billion. NRG Energy had a net margin of 6.15% and a negative return on equity of 0.66%. As a group, research analysts expect that NRG Energy, Inc. will post 11.19 EPS for the current fiscal year.

NRG Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Wednesday, February 1st will be paid a $0.3775 dividend. This represents a $1.51 annualized dividend and a dividend yield of 4.47%. The ex-dividend date is Tuesday, January 31st. This is an increase from NRG Energy's previous quarterly dividend of $0.35. NRG Energy's payout ratio is currently 17.77%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NRG. StockNews.com initiated coverage on NRG Energy in a research report on Wednesday, October 12th. They set a "hold" rating for the company. Morgan Stanley raised their price objective on shares of NRG Energy from $37.00 to $39.00 and gave the stock an "equal weight" rating in a research note on Monday, January 23rd. BMO Capital Markets cut their target price on shares of NRG Energy from $46.00 to $43.00 in a research note on Thursday, December 8th. Bank of America upgraded shares of NRG Energy from an "underperform" rating to a "neutral" rating and dropped their price objective for the stock from $38.00 to $32.00 in a report on Monday, December 19th. Finally, UBS Group downgraded NRG Energy from a "neutral" rating to a "sell" rating in a research report on Wednesday, December 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, NRG Energy currently has a consensus rating of "Hold" and an average target price of $40.40.

Insider Buying and Selling

In other news, CEO Mauricio Gutierrez purchased 15,000 shares of NRG Energy stock in a transaction on Thursday, December 15th. The shares were purchased at an average cost of $32.03 per share, for a total transaction of $480,450.00. Following the completion of the transaction, the chief executive officer now directly owns 1,111,368 shares in the company, valued at $35,597,117.04. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In other NRG Energy news, CEO Mauricio Gutierrez acquired 15,000 shares of the business's stock in a transaction on Thursday, December 15th. The stock was purchased at an average price of $32.03 per share, for a total transaction of $480,450.00. Following the transaction, the chief executive officer now owns 1,111,368 shares in the company, valued at approximately $35,597,117.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Antonio Carrillo bought 9,000 shares of the firm's stock in a transaction dated Thursday, December 15th. The shares were acquired at an average price of $31.71 per share, for a total transaction of $285,390.00. Following the acquisition, the director now directly owns 27,446 shares of the company's stock, valued at approximately $870,312.66. The disclosure for this purchase can be found here. 0.76% of the stock is currently owned by corporate insiders.

About NRG Energy

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NRG Energy, Inc, together with its subsidiaries, operates as an integrated power company in the United States. It operates through Texas, East, and West. The company is involved in the producing, selling, and delivering electricity and related products and services to approximately 6 million residential, commercial, industrial, and wholesale customers.