BOCHK Asset Management Ltd Invests $15.82 Million in NRG Energy, Inc. (NYSE:NRG)

BOCHK Asset Management Ltd bought a new position in shares of NRG Energy, Inc. (NYSE:NRG) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 173,700 shares of the utilities provider’s stock, valued at approximately $15,824,000. NRG Energy accounts for approximately 4.7% of BOCHK Asset Management Ltd’s investment portfolio, making the stock its 7th largest holding. BOCHK Asset Management Ltd owned 0.08% of NRG Energy as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in NRG. Atlas Capital Advisors LLC raised its position in shares of NRG Energy by 209.6% in the first quarter. Atlas Capital Advisors LLC now owns 1,938 shares of the utilities provider’s stock valued at $131,000 after buying an additional 1,312 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of NRG Energy by 4.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 31,040 shares of the utilities provider’s stock valued at $2,101,000 after acquiring an additional 1,383 shares during the period. Allspring Global Investments Holdings LLC grew its stake in NRG Energy by 885.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 237,444 shares of the utilities provider’s stock worth $16,073,000 after buying an additional 213,347 shares in the last quarter. First Trust Direct Indexing L.P. increased its holdings in NRG Energy by 2.8% in the 1st quarter. First Trust Direct Indexing L.P. now owns 5,813 shares of the utilities provider’s stock valued at $393,000 after buying an additional 161 shares during the period. Finally, Accel Wealth Management acquired a new position in shares of NRG Energy in the 1st quarter valued at approximately $250,000. 97.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of NRG Energy from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. Jefferies Financial Group began coverage on NRG Energy in a report on Friday, September 13th. They set a “hold” rating and a $82.00 price target for the company. BMO Capital Markets raised their price objective on NRG Energy from $88.00 to $90.00 and gave the company a “market perform” rating in a research note on Monday, September 30th. Guggenheim boosted their target price on NRG Energy from $77.00 to $118.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, StockNews.com downgraded shares of NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, NRG Energy has a consensus rating of “Hold” and a consensus price target of $83.25.

NRG Energy Trading Up 0.6 %

Shares of NRG Energy stock traded up $0.57 on Thursday, hitting $88.30. The stock had a trading volume of 712,989 shares, compared to its average volume of 3,297,711. The stock has a 50 day moving average of $85.41 and a 200 day moving average of $80.27. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.11 and a current ratio of 1.18. NRG Energy, Inc. has a twelve month low of $41.49 and a twelve month high of $96.40. The firm has a market capitalization of $18.41 billion, a P/E ratio of 12.43 and a beta of 1.10.

NRG Energy (NYSE:NRG) last released its quarterly earnings results on Thursday, August 8th. The utilities provider reported $3.37 earnings per share (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 firm had revenue of $6.66 billion during the quarter, compared to analyst estimates of $8.32 billion. During the same quarter last year, the business earned $1.10 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. Sell-side analysts expect that NRG Energy, Inc. will post 5.51 earnings per share for the current fiscal year.

NRG Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a dividend of $0.4075 per share. The ex-dividend date is Friday, November 1st. This represents a $1.63 annualized dividend and a yield of 1.85%. NRG Energy’s payout ratio is 23.09%.

Insider Activity at NRG Energy

In other NRG Energy news, insider Rasesh M. Patel sold 102,603 shares of NRG Energy stock in a transaction that occurred 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 owns 163,680 shares of the company’s stock, valued at $13,151,688. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.86% of the stock is owned by insiders.

NRG Energy 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.