Kingswood Wealth Advisors LLC Cuts Stake in NRG Energy, Inc. $NRG

Kingswood Wealth Advisors LLC lessened its stake in shares of NRG Energy, Inc. (NYSE:NRG) by 2.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 23,179 shares of the utilities provider’s stock after selling 525 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in NRG Energy were worth $3,722,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NRG. Goldman Sachs Group Inc. grew its position in shares of NRG Energy by 468.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,757,735 shares of the utilities provider’s stock valued at $454,173,000 after acquiring an additional 6,049,247 shares during the period. Amundi grew its holdings in NRG Energy by 772.5% during the first quarter. Amundi now owns 4,378,022 shares of the utilities provider’s stock valued at $406,342,000 after purchasing an additional 3,876,235 shares during the period. Boston Partners increased its position in NRG Energy by 169.5% in the first quarter. Boston Partners now owns 2,817,018 shares of the utilities provider’s stock worth $269,230,000 after buying an additional 1,771,829 shares during the last quarter. Appaloosa LP raised its stake in shares of NRG Energy by 12.9% in the first quarter. Appaloosa LP now owns 2,050,000 shares of the utilities provider’s stock valued at $195,693,000 after buying an additional 235,000 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in shares of NRG Energy by 33.6% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,481,120 shares of the utilities provider’s stock valued at $141,388,000 after buying an additional 372,618 shares during the last quarter. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NRG Energy

In related news, VP Dak Liyanearachchi sold 10,672 shares of the stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $155.00, for a total value of $1,654,160.00. Following the completion of the transaction, the vice president directly owned 48,571 shares of the company’s stock, valued at $7,528,505. This represents a 18.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.61% of the company’s stock.

NRG Energy Price Performance

Shares of NYSE NRG opened at $163.98 on Tuesday. The stock’s 50-day simple moving average is $157.25 and its two-hundred day simple moving average is $141.85. The firm has a market capitalization of $31.72 billion, a P/E ratio of 74.20, a P/E/G ratio of 1.35 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 5.99. NRG Energy, Inc. has a twelve month low of $79.57 and a twelve month high of $175.96.

NRG Energy (NYSE:NRG) last issued 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 firm had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.63 billion. During the same period last year, the firm earned $3.37 EPS. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, equities analysts anticipate that NRG Energy, Inc. will post 6.36 EPS for the current fiscal year.

NRG Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were issued a $0.44 dividend. The ex-dividend date was Friday, August 1st. This represents a $1.76 annualized dividend and a yield of 1.1%. NRG Energy’s dividend payout ratio is 79.64%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on NRG shares. Raymond James Financial assumed coverage on NRG Energy in a research note on Friday, June 13th. They issued a “strong-buy” rating and a $195.00 price objective on the stock. Scotiabank initiated coverage on NRG Energy in a report on Monday, September 22nd. They issued a “sector outperform” rating and a $212.00 price target for the company. Melius started coverage on NRG Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $308.00 price objective on the stock. Wall Street Zen downgraded NRG Energy from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of NRG Energy in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, NRG Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $188.85.

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.