Meeder Asset Management Inc. Decreases Position in NRG Energy, Inc. (NYSE:NRG)

Meeder Asset Management Inc. decreased its stake in NRG Energy, Inc. (NYSE:NRG) by 74.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,562 shares of the utilities provider’s stock after selling 4,488 shares during the period. Meeder Asset Management Inc.’s holdings in NRG Energy were worth $106,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of NRG. Public Sector Pension Investment Board boosted its holdings in NRG Energy by 5.3% in the third quarter. Public Sector Pension Investment Board now owns 53,414 shares of the utilities provider’s stock valued at $2,058,000 after purchasing an additional 2,688 shares during the last quarter. Wellington Management Group LLP boosted its holdings in NRG Energy by 486.2% in the third quarter. Wellington Management Group LLP now owns 900,526 shares of the utilities provider’s stock valued at $34,688,000 after purchasing an additional 746,899 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in NRG Energy by 1.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 22,761 shares of the utilities provider’s stock valued at $877,000 after purchasing an additional 432 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in NRG Energy by 2,520.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 38,436 shares of the utilities provider’s stock valued at $1,987,000 after purchasing an additional 36,969 shares during the last quarter. Finally, Chesley Taft & Associates LLC purchased a new position in NRG Energy in the fourth quarter valued at about $249,000. Hedge funds and other institutional investors own 97.72% of the company’s stock.

Analyst Ratings Changes

NRG has been the subject of a number of analyst reports. Evercore ISI increased their price target on NRG Energy from $55.00 to $65.00 and gave the company an “in-line” rating in a report on Monday, March 18th. Morgan Stanley upped their price objective on NRG Energy from $70.00 to $83.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 28th. BMO Capital Markets upped their price objective on NRG Energy from $73.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday, May 8th. Finally, Wells Fargo & Company upped their price objective on NRG Energy from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, May 15th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $68.00.

NRG Energy Stock Performance

NRG traded down $4.54 during trading hours on Monday, hitting $75.39. The company’s stock had a trading volume of 3,501,116 shares, compared to its average volume of 3,616,374. NRG Energy, Inc. has a fifty-two week low of $35.97 and a fifty-two week high of $87.58. The company has a current ratio of 1.01, a quick ratio of 0.95 and a debt-to-equity ratio of 3.61. The firm has a market capitalization of $15.72 billion, a PE ratio of 10.68 and a beta of 1.07. The company has a 50-day simple moving average of $80.32 and a 200 day simple moving average of $67.65.

NRG Energy (NYSE:NRG) last posted its earnings results on Tuesday, May 7th. The utilities provider reported $0.80 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.12). NRG Energy had a net margin of 5.76% and a return on equity of 42.60%. The business had revenue of $7.43 billion during the quarter. As a group, sell-side analysts expect that NRG Energy, Inc. will post 4.5 EPS for the current year.

NRG Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were paid a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Tuesday, April 30th. NRG Energy’s payout ratio is currently 23.09%.

Insider Buying and Selling at NRG Energy

In other NRG Energy news, insider Rasesh M. Patel sold 24,546 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of $83.41, for a total transaction of $2,047,381.86. Following the completion of the transaction, the insider now directly owns 266,064 shares of the company’s stock, valued at approximately $22,192,398.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.86% of the stock is currently owned by corporate insiders.

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.