NRG Energy, Inc. $NRG Stock: Park Avenue Securities LLC Lowers Holdings

Park Avenue Securities LLC trimmed its position in shares of NRG Energy, Inc. (NYSE:NRG) by 39.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Wellington Altus USA Inc. acquired a new position in NRG Energy during the second quarter worth $33,000. Cassaday & Co Wealth Management LLC bought a new stake in NRG Energy during the 1st quarter worth approximately $33,000. CoreCap Advisors LLC increased its holdings in NRG Energy by 83.8% during the 2nd quarter. CoreCap Advisors LLC now owns 250 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 114 shares in the last quarter. Whipplewood Advisors LLC boosted its stake in NRG Energy by 1,673.3% in the first quarter. Whipplewood Advisors LLC now owns 266 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 251 shares in the last quarter. Finally, Reyes Financial Architecture Inc. bought a new stake in shares of NRG Energy during the third quarter worth $27,000. 97.72% of the stock is currently owned by institutional investors.

NRG Energy Price Performance

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

NRG Energy (NYSE:NRG) last issued its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $1.49 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.20). NRG Energy had a net margin of 2.56% and a return on equity of 52.95%. The firm had revenue of $7.48 billion during the quarter, compared to the consensus estimate of $7.31 billion. During the same quarter last year, the firm earned $1.73 earnings per share. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. Research analysts predict that NRG Energy, Inc. will post 8.62 earnings per share for the current fiscal year.

NRG Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be given a dividend of $0.4750 per share. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $1.90 annualized dividend and a yield of 2.0%. NRG Energy’s dividend payout ratio is 50.26%.

Insider Activity

In related news, CAO Gerald Alfred Spencer sold 1,580 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $120.93, for a total transaction of $191,069.40. Following the transaction, the chief accounting officer directly owned 6,213 shares in the company, valued at approximately $751,338.09. The trade was a 20.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NRG. Evercore reissued an “outperform” rating and issued a $195.00 price target on shares of NRG Energy in a report on Wednesday, August 5th. BMO Capital Markets reiterated a “market perform” rating and set a $214.00 price target on shares of NRG Energy in a research report on Thursday, August 6th. HSBC initiated coverage on shares of NRG Energy in a research report on Thursday, October 22nd. They set a “buy” rating and a $179.00 target price for the company. Morgan Stanley dropped their price objective on NRG Energy from $159.00 to $144.00 and set an “equal weight” rating for the company in a report on Wednesday, October 21st. Finally, Weiss Ratings raised NRG Energy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $173.56.

About NRG Energy

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.