Manchester Capital Management LLC Has $676,000 Holdings in NRG Energy, Inc. $NRG

by · The Markets Daily

Manchester Capital Management LLC grew its position in NRG Energy, Inc. (NYSE:NRGFree Report) by 47.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 4,211 shares of the utilities provider’s stock after purchasing an additional 1,358 shares during the period. Manchester Capital Management LLC’s holdings in NRG Energy were worth $676,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its holdings in shares of NRG Energy by 97.9% during the second quarter. Advisors Asset Management Inc. now owns 4,667 shares of the utilities provider’s stock worth $749,000 after buying an additional 2,309 shares in the last quarter. Jaffetilchin Investment Partners LLC acquired a new position in shares of NRG Energy during the 2nd quarter worth approximately $844,000. Global Retirement Partners LLC bought a new position in shares of NRG Energy during the second quarter worth approximately $418,000. Coldstream Capital Management Inc. boosted its stake in shares of NRG Energy by 8.3% in the second quarter. Coldstream Capital Management Inc. now owns 8,582 shares of the utilities provider’s stock valued at $1,378,000 after buying an additional 661 shares during the period. Finally, American Century Companies Inc. grew its position in NRG Energy by 68.2% during the second quarter. American Century Companies Inc. now owns 251,366 shares of the utilities provider’s stock worth $40,364,000 after buying an additional 101,922 shares in the last quarter. 97.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Scotiabank began coverage on NRG Energy in a report on Monday, September 22nd. They set a “sector outperform” rating and a $212.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of NRG Energy in a report on Wednesday, November 19th. Wells Fargo & Company upgraded shares of NRG Energy to a “strong-buy” rating in a research report on Tuesday, October 28th. Morgan Stanley reaffirmed an “underperform” rating on shares of NRG Energy in a report on Thursday, November 20th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $198.00 price target on shares of NRG Energy in a report on Monday, October 20th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $198.31.

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NRG Energy Stock Performance

NRG Energy stock opened at $163.74 on Wednesday. The business has a 50 day moving average of $166.96 and a 200-day moving average of $158.90. The company has a market capitalization of $31.38 billion, a P/E ratio of 74.09 and a beta of 1.16. NRG Energy, Inc. has a 1 year low of $79.57 and a 1 year high of $180.54. The company has a debt-to-equity ratio of 5.99, a current ratio of 0.93 and a quick ratio of 0.88.

NRG Energy (NYSE:NRGGet Free Report) last announced its quarterly earnings results on Thursday, November 6th. The utilities provider reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.85. The firm had revenue of $7.64 billion during the quarter, compared to analysts’ expectations of $7.53 billion. NRG Energy had a net margin of 1.78% and a return on equity of 88.22%. The company’s revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.90 EPS. On average, equities research analysts predict that NRG Energy, Inc. will post 6.36 earnings per share for the current year.

NRG Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, November 3rd were given a $0.44 dividend. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $1.76 annualized dividend and a dividend yield of 1.1%. NRG Energy’s dividend payout ratio (DPR) is 26.31%.

NRG Energy announced that its board has initiated a stock buyback program on Thursday, November 6th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the utilities provider to buy up to 9.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, VP Virginia Kinney sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $163.82, for a total transaction of $3,276,400.00. Following the completion of the sale, the vice president owned 43,191 shares of the company’s stock, valued at $7,075,549.62. This trade represents a 31.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Dak Liyanearachchi sold 10,672 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $155.00, for a total value of $1,654,160.00. Following the transaction, the vice president owned 48,571 shares in the company, valued at $7,528,505. The trade was a 18.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.86% of the stock is owned by corporate insiders.

About NRG Energy

(Free Report)

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.

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