NRG Energy, Inc. $NRG Stock Position Lessened by Park Avenue Securities LLC

Park Avenue Securities LLC cut its position in NRG Energy, Inc. (NYSE:NRG) by 39.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 11,955 shares of the utilities provider’s stock after selling 7,685 shares during the period. Park Avenue Securities LLC’s holdings in NRG Energy were worth $1,143,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in NRG. Bank of New York Mellon Corp bought a new stake in NRG Energy during the second quarter worth about $473,391,000. Bank of America Corp DE increased its stake in shares of NRG Energy by 16.7% in the first quarter. Bank of America Corp DE now owns 2,192,394 shares of the utilities provider’s stock valued at $320,396,000 after buying an additional 313,410 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of NRG Energy by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,191,133 shares of the utilities provider’s stock worth $320,145,000 after purchasing an additional 21,666 shares during the period. Assenagon Asset Management S.A. grew its position in shares of NRG Energy by 96.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 967,264 shares of the utilities provider’s stock valued at $141,279,000 after buying an additional 474,474 shares during the last quarter. Finally, Sei Investments Co. lifted its position in shares of NRG Energy by 50.4% in the 1st quarter. Sei Investments Co. now owns 857,186 shares of the utilities provider’s stock worth $125,268,000 after purchasing an additional 287,381 shares during the period. 97.72% of the stock is currently owned by institutional investors.

NRG Energy Stock Down 1.7%

Shares of NYSE:NRG opened at $94.46 on Tuesday. The company has a debt-to-equity ratio of 5.17, a current ratio of 0.97 and a quick ratio of 0.89. The company has a market cap of $19.93 billion, a PE ratio of 24.99 and a beta of 1.17. The stock’s 50-day moving average is $104.16 and its 200 day moving average is $135.02. NRG Energy, Inc. has a 1 year low of $90.80 and a 1 year high of $189.96.

NRG Energy (NYSE:NRG) last posted its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.20). The firm had revenue of $7.48 billion for the quarter, compared to the consensus estimate of $7.31 billion. NRG Energy had a net margin of 2.56% and a return on equity of 52.95%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.73 earnings per share. Sell-side analysts anticipate that NRG Energy, Inc. will post 8.62 EPS for the current year.

NRG Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be issued a $0.4750 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Monday, November 2nd. NRG Energy’s payout ratio is presently 50.26%.

Insider Activity at NRG Energy

In related news, CAO Gerald Alfred Spencer sold 1,580 shares of NRG Energy stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $120.93, for a total value of $191,069.40. Following the completion of the sale, the chief accounting officer directly owned 6,213 shares in the company, valued at approximately $751,338.09. This trade represents a 20.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.

Wall Street Analysts Forecast Growth

NRG has been the subject of several research analyst reports. BNP Paribas Exane set a $221.00 price objective on shares of NRG Energy in a research note on Wednesday, August 19th. Canadian Imperial Bank of Commerce dropped their price target on shares of NRG Energy from $173.00 to $159.00 and set an “outperformer” rating on the stock in a research report on Wednesday, October 28th. Raymond James Financial set a $152.00 target price on NRG Energy in a research report on Wednesday, October 21st. BMO Capital Markets reissued a “market perform” rating and issued a $214.00 target price on shares of NRG Energy in a research report on Thursday, August 6th. Finally, Jefferies Financial Group set a $131.00 price target on shares of NRG Energy in a research report on Monday, October 19th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $173.56.

NRG Energy Company Profile

NRG Energy, Inc is an integrated power and home services company headquartered in Houston, Texas. The company produces and sells electricity through a diverse generation portfolio that includes natural gas, coal, nuclear power, renewable energy and battery storage. NRG serves wholesale and retail energy markets, with operations and customers primarily in the United States and Canada.

Through retail brands including Reliant and Direct Energy, NRG provides electricity, natural gas and related energy products to residential, commercial and industrial customers.