Alpine Woods Capital Investors LLC trimmed its position in shares of NRG Energy, Inc. (NYSE:NRG – Free Report) by 4.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,598 shares of the utilities provider’s stock after selling 265 shares during the period. Alpine Woods Capital Investors LLC’s holdings in NRG Energy were worth $899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of NRG. Goldman Sachs Group Inc. raised its holdings 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 worth $454,173,000 after acquiring an additional 6,049,247 shares in the last quarter. Amundi raised its holdings in NRG Energy by 772.5% during the 1st quarter. Amundi now owns 4,378,022 shares of the utilities provider’s stock valued at $406,342,000 after buying an additional 3,876,235 shares during the period. Boston Partners raised its holdings in NRG Energy by 169.5% during the 1st quarter. Boston Partners now owns 2,817,018 shares of the utilities provider’s stock valued at $269,230,000 after buying an additional 1,771,829 shares during the period. Nuveen LLC purchased a new stake in NRG Energy during the 1st quarter valued at $93,075,000. Finally, Alliancebernstein L.P. raised its holdings in NRG Energy by 289.1% during the 1st quarter. Alliancebernstein L.P. now owns 1,023,168 shares of the utilities provider’s stock valued at $97,672,000 after buying an additional 760,201 shares during the period. 97.72% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, VP Dak Liyanearachchi sold 10,672 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $155.00, for a total transaction of $1,654,160.00. Following the transaction, the vice president owned 48,571 shares of the company’s stock, valued at approximately $7,528,505. This represents a 18.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.61% of the company’s stock.
NRG Energy Stock Performance
NRG Energy (NYSE:NRG – Get Free Report) last released its earnings results on Wednesday, August 6th. The utilities provider reported $1.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.04). NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.The business had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.63 billion. During the same quarter in the previous year, the business earned $3.37 EPS. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. Analysts predict that NRG Energy, Inc. will post 6.36 earnings per share for the current year.
NRG Energy Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.0%. NRG Energy’s dividend payout ratio is presently 79.64%.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on NRG. Scotiabank began coverage on NRG Energy in a report on Monday, September 22nd. They set a “sector outperform” rating and a $212.00 price target on the stock. Barclays increased their price target on NRG Energy from $197.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Melius began coverage on NRG Energy in a report on Wednesday, August 20th. They set a “buy” rating and a $308.00 price target on the stock. Wall Street Zen lowered NRG Energy from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Citigroup increased their target price on NRG Energy from $133.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $188.85.
Read Our Latest Research Report on NRG Energy
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.
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