Diversify Wealth Management LLC Makes New $2.04 Million Investment in NRG Energy, Inc. (NYSE:NRG)

Diversify Wealth Management LLC purchased a new stake in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 23,288 shares of the utilities provider's stock, valued at approximately $2,043,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Trust Direct Indexing L.P. grew its stake in NRG Energy by 6.2% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 7,260 shares of the utilities provider's stock valued at $661,000 after purchasing an additional 422 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of NRG Energy during the third quarter worth approximately $216,000. Hedeker Wealth LLC increased its stake in shares of NRG Energy by 3.4% in the third quarter. Hedeker Wealth LLC now owns 63,313 shares of the utilities provider's stock worth $5,768,000 after buying an additional 2,106 shares during the last quarter. abrdn plc raised its holdings in NRG Energy by 4.8% in the third quarter. abrdn plc now owns 91,780 shares of the utilities provider's stock valued at $8,421,000 after acquiring an additional 4,217 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in NRG Energy by 72.0% in the third quarter. Nisa Investment Advisors LLC now owns 91,484 shares of the utilities provider's stock valued at $8,334,000 after acquiring an additional 38,286 shares in the last quarter. Hedge funds and other institutional investors own 97.72% of the company's stock.

Insider Activity

In other NRG Energy news, insider Rasesh M. Patel sold 102,603 shares of the business's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $80.35, for a total transaction of $8,244,151.05. Following the completion of the transaction, the insider now owns 163,680 shares in the company, valued at approximately $13,151,688. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.61% of the company's stock.

NRG Energy Stock Performance

NYSE:NRG traded up $0.39 during midday trading on Thursday, reaching $88.84. 264,284 shares of the company traded hands, compared to its average volume of 3,278,303. NRG Energy, Inc. has a twelve month low of $41.57 and a twelve month high of $96.40. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.18 and a quick ratio of 1.11. The company has a fifty day moving average price of $86.00 and a 200 day moving average price of $80.79. The firm has a market capitalization of $18.33 billion, a price-to-earnings ratio of 9.64 and a beta of 1.10.

NRG Energy (NYSE:NRG - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The utilities provider reported $3.37 EPS for the quarter, topping the consensus estimate of $1.55 by $1.82. NRG Energy had a net margin of 7.19% and a return on equity of 43.69%. The business had revenue of $6.66 billion during the quarter, compared to analyst estimates of $8.32 billion. During the same quarter in the prior year, the firm earned $1.10 earnings per share. The company's quarterly revenue was up 4.9% on a year-over-year basis. On average, analysts expect that NRG Energy, Inc. will post 6.09 EPS for the current fiscal year.

NRG Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a $0.4075 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.63 annualized dividend and a dividend yield of 1.83%. NRG Energy's payout ratio is currently 17.76%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NRG shares. 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. StockNews.com cut NRG Energy from a "buy" rating to a "hold" rating in a research note on Monday, September 2nd. Wells Fargo & Company lifted their target price on NRG Energy from $120.00 to $130.00 and gave the stock an "overweight" rating in a research report on Wednesday. BMO Capital Markets boosted their price target on NRG Energy from $90.00 to $94.00 and gave the company a "market perform" rating in a report on Tuesday. Finally, Guggenheim raised their price objective on NRG Energy from $77.00 to $118.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $85.00.

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.