Allstate Corp Has $367,000 Holdings in NRG Energy, Inc. $NRG

Allstate Corp cut its holdings in NRG Energy, Inc. (NYSE:NRG) by 36.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,844 shares of the utilities provider’s stock after selling 2,212 shares during the quarter. Allstate Corp’s holdings in NRG Energy were worth $367,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. GW&K Investment Management LLC lifted its stake in NRG Energy by 23.8% in the first quarter. GW&K Investment Management LLC now owns 672 shares of the utilities provider’s stock valued at $64,000 after buying an additional 129 shares during the period. Envestnet Asset Management Inc. lifted its stake in NRG Energy by 99.2% in the first quarter. Envestnet Asset Management Inc. now owns 413,911 shares of the utilities provider’s stock valued at $39,512,000 after buying an additional 206,096 shares during the period. Exchange Traded Concepts LLC lifted its stake in NRG Energy by 54.4% in the first quarter. Exchange Traded Concepts LLC now owns 6,215 shares of the utilities provider’s stock valued at $593,000 after buying an additional 2,190 shares during the period. State of Alaska Department of Revenue increased its holdings in shares of NRG Energy by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 23,728 shares of the utilities provider’s stock valued at $2,265,000 after acquiring an additional 630 shares in the last quarter. Finally, Graham Capital Management L.P. bought a new stake in shares of NRG Energy during the fourth quarter valued at approximately $276,000. 97.72% of the stock is owned by institutional investors and hedge funds.

NRG Energy Trading Up 0.9%

Shares of NRG Energy stock opened at $146.09 on Wednesday. The stock has a fifty day simple moving average of $154.63 and a 200 day simple moving average of $129.89. NRG Energy, Inc. has a 12-month low of $76.13 and a 12-month high of $175.96. The company has a market capitalization of $28.26 billion, a P/E ratio of 66.10, a price-to-earnings-growth ratio of 1.18 and a beta of 1.14. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 5.99.

NRG Energy (NYSE:NRG) last announced its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.04). NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.The company had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.63 billion. During the same quarter last year, the company posted $3.37 EPS. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, sell-side analysts anticipate that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were given a $0.44 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $1.76 annualized dividend and a yield of 1.2%. NRG Energy’s payout ratio is currently 79.64%.

Insiders Place Their Bets

In other NRG Energy news, Director Kevin Howell sold 50,000 shares of the business’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $154.50, for a total value of $7,725,000.00. Following the transaction, the director owned 55,427 shares of the company’s stock, valued at approximately $8,563,471.50. The trade was a 47.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on NRG. Raymond James Financial began coverage on NRG Energy in a report on Friday, June 13th. They set a “strong-buy” rating and a $195.00 price objective for the company. Melius began coverage on NRG Energy in a report on Wednesday, August 20th. They set a “buy” rating and a $308.00 price objective for the company. Melius Research began coverage on NRG Energy in a report on Wednesday, August 20th. They set a “buy” rating and a $308.00 price objective for the company. Guggenheim boosted their price objective on NRG Energy from $138.00 to $173.00 and gave the company a “buy” rating in a report on Tuesday, May 13th. Finally, Wall Street Zen downgraded NRG Energy from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $186.92.

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.