Hollencrest Capital Management Acquires 10,650 Shares of NRG Energy, Inc. (NYSE:NRG)

Hollencrest Capital Management boosted its position in NRG Energy, Inc. (NYSE:NRG) by 30,428.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,685 shares of the utilities provider’s stock after buying an additional 10,650 shares during the period. Hollencrest Capital Management’s holdings in NRG Energy were worth $973,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rothschild Investment LLC purchased a new position in shares of NRG Energy in the 2nd quarter worth approximately $32,000. First Horizon Advisors Inc. increased its holdings in shares of NRG Energy by 76.1% in the second quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 191 shares during the period. Harbor Capital Advisors Inc. bought a new position in shares of NRG Energy in the third quarter worth $35,000. Crewe Advisors LLC bought a new position in NRG Energy in the first quarter valued at $36,000. Finally, Innealta Capital LLC bought a new position in NRG Energy in the second quarter valued at $36,000. 97.72% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Rasesh M. Patel sold 102,603 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $80.35, for a total value of $8,244,151.05. Following the transaction, the insider now directly owns 163,680 shares of the company’s stock, valued at approximately $13,151,688. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.86% of the stock is currently owned by insiders.

NRG Energy Stock Up 0.5 %

Shares of NYSE NRG traded up $0.51 during trading hours on Friday, hitting $96.91. 1,777,431 shares of the stock were exchanged, compared to its average volume of 3,270,597. The company has a quick ratio of 1.11, a current ratio of 1.18 and a debt-to-equity ratio of 3.51. The company has a market cap of $20.00 billion, a PE ratio of 10.50, a PEG ratio of 1.30 and a beta of 1.10. The firm has a fifty day moving average price of $86.99 and a 200-day moving average price of $81.50. NRG Energy, Inc. has a 12 month low of $44.90 and a 12 month high of $102.84.

NRG Energy (NYSE:NRG) last issued its quarterly earnings results on Thursday, August 8th. The utilities provider reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $1.82. The business had revenue of $6.66 billion for the quarter, compared to analyst estimates of $8.32 billion. NRG Energy had a net margin of 7.19% and a return on equity of 43.69%. NRG Energy’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.10 EPS. On average, sell-side analysts expect that NRG Energy, Inc. will post 6.29 EPS for the current year.

NRG Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Friday, November 1st. NRG Energy’s dividend payout ratio (DPR) is presently 17.76%.

Analyst Ratings Changes

NRG has been the subject of several analyst reports. Jefferies Financial Group initiated coverage on shares of NRG Energy in a research report on Friday, September 13th. They set a “hold” rating and a $82.00 price target for the company. Wells Fargo & Company raised their price objective on shares of NRG Energy from $120.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. StockNews.com downgraded shares of NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. BMO Capital Markets raised their target price on shares of NRG Energy from $90.00 to $94.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Finally, Citigroup raised their price target on shares of NRG Energy from $84.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, NRG Energy presently has a consensus rating of “Hold” and an average price target of $96.00.

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.