Seven Eight Capital LP Has $3.32 Million Position in NRG Energy, Inc. (NYSE:NRG)

Seven Eight Capital LP lessened its position in NRG Energy, Inc. (NYSE:NRG) by 56.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 42,617 shares of the utilities provider’s stock after selling 54,618 shares during the period. Seven Eight Capital LP’s holdings in NRG Energy were worth $3,318,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in NRG. Vanguard Personalized Indexing Management LLC boosted its position in NRG Energy by 12.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 16,950 shares of the utilities provider’s stock valued at $1,320,000 after buying an additional 1,891 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of NRG Energy by 14.3% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,070 shares of the utilities provider’s stock worth $317,000 after acquiring an additional 510 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in NRG Energy by 15.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 36,956 shares of the utilities provider’s stock worth $2,877,000 after acquiring an additional 5,067 shares during the last quarter. Central Asset Investments & Management Holdings HK Ltd acquired a new stake in NRG Energy during the 2nd quarter valued at $362,000. Finally, Mutual of America Capital Management LLC raised its position in NRG Energy by 39.5% in the 2nd quarter. Mutual of America Capital Management LLC now owns 65,871 shares of the utilities provider’s stock valued at $5,129,000 after purchasing an additional 18,661 shares during the last quarter. Institutional investors own 97.72% of the company’s stock.

Insiders Place Their Bets

In related news, insider Rasesh M. Patel sold 102,603 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $80.35, for a total transaction of $8,244,151.05. Following the transaction, the insider now directly owns 163,680 shares of the company’s stock, valued at $13,151,688. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.86% of the company’s stock.

NRG Energy Trading Up 0.7 %

Shares of NYSE NRG opened at $81.32 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.18 and a debt-to-equity ratio of 3.51. The company’s fifty day moving average is $78.31 and its 200-day moving average is $75.85. NRG Energy, Inc. has a twelve month low of $36.61 and a twelve month high of $87.58. The stock has a market cap of $16.95 billion, a price-to-earnings ratio of 11.52 and a beta of 1.10.

NRG Energy (NYSE:NRG) last posted its quarterly earnings data on Thursday, August 8th. The utilities provider reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $1.82. NRG Energy had a return on equity of 43.69% and a net margin of 7.19%. The business had revenue of $6.66 billion during the quarter, compared to the consensus estimate of $8.32 billion. During the same period last year, the company earned $1.10 earnings per share. NRG Energy’s quarterly revenue was up 4.9% on a year-over-year basis. Equities research analysts predict that NRG Energy, Inc. will post 4.45 EPS for the current year.

NRG Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were paid a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date was Thursday, August 1st. NRG Energy’s dividend payout ratio is presently 23.09%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NRG. StockNews.com cut NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Jefferies Financial Group started coverage on shares of NRG Energy in a research note on Friday, September 13th. They issued a “hold” rating and a $82.00 target price for the company. Wells Fargo & Company upped their target price on shares of NRG Energy from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Finally, Morgan Stanley raised their price target on shares of NRG Energy from $70.00 to $83.00 and gave the company an “equal weight” rating in a report on Tuesday, May 28th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $73.75.

NRG Energy Company 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.