AlphaStar Capital Management LLC Cuts Position in NRG Energy, Inc. (NYSE:NRG)

AlphaStar Capital Management LLC cut its stake in NRG Energy, Inc. (NYSE:NRG) by 5.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,190 shares of the utilities provider’s stock after selling 187 shares during the quarter. AlphaStar Capital Management LLC’s holdings in NRG Energy were worth $248,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in NRG. International Assets Investment Management LLC increased its holdings in shares of NRG Energy by 1,398.1% in the 4th quarter. International Assets Investment Management LLC now owns 21,034 shares of the utilities provider’s stock valued at $1,087,000 after acquiring an additional 19,630 shares during the period. Cerity Partners LLC acquired a new stake in shares of NRG Energy in the 4th quarter worth $317,000. Louisiana State Employees Retirement System acquired a new stake in shares of NRG Energy in the 4th quarter worth $708,000. abrdn plc boosted its position in shares of NRG Energy by 71.6% in the 4th quarter. abrdn plc now owns 96,473 shares of the utilities provider’s stock worth $4,988,000 after purchasing an additional 40,267 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of NRG Energy by 6.9% in the 4th quarter. Signaturefd LLC now owns 4,174 shares of the utilities provider’s stock worth $216,000 after purchasing an additional 271 shares in the last quarter. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NRG shares. BMO Capital Markets raised their price objective on NRG Energy from $73.00 to $82.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 8th. Wells Fargo & Company raised their price objective on NRG Energy from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 15th. Morgan Stanley raised their price objective on NRG Energy from $70.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 28th. Finally, StockNews.com raised NRG Energy from a “hold” rating to a “buy” rating in a research report on Sunday. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $71.14.

NRG Energy Stock Performance

Shares of NRG opened at $83.60 on Wednesday. The stock has a 50-day moving average of $78.04 and a two-hundred day moving average of $73.11. NRG Energy, Inc. has a one year low of $36.61 and a one year high of $87.58. The company has a debt-to-equity ratio of 3.61, a quick ratio of 0.95 and a current ratio of 1.01. The stock has a market cap of $17.43 billion, a P/E ratio of 11.84 and a beta of 1.08.

NRG Energy (NYSE:NRG) last issued its quarterly earnings data on Thursday, August 8th. The utilities provider reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $1.82. The business had revenue of $6.66 billion during the quarter, compared to analysts’ expectations of $8.32 billion. NRG Energy had a return on equity of 42.60% and a net margin of 5.76%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.10 EPS. As a group, research analysts predict that NRG Energy, Inc. will post 4.47 EPS for the current year.

NRG Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were issued a $0.4075 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.63 annualized dividend and a dividend yield of 1.95%. NRG Energy’s dividend payout ratio (DPR) is presently 23.09%.

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.