Victory Capital Management Inc. Cuts Stock Position in NRG Energy, Inc. (NYSE:NRG)

Victory Capital Management Inc. decreased its holdings in NRG Energy, Inc. (NYSE:NRGGet Rating) by 6.8% in the 1st quarter, HoldingsChannel reports. The fund owned 679,404 shares of the utilities provider’s stock after selling 49,475 shares during the quarter. Victory Capital Management Inc.’s holdings in NRG Energy were worth $24,391,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Pzena Investment Management LLC raised its position in NRG Energy by 4.5% in the fourth quarter. Pzena Investment Management LLC now owns 17,224,488 shares of the utilities provider’s stock worth $742,031,000 after acquiring an additional 740,730 shares in the last quarter. Geode Capital Management LLC raised its position in NRG Energy by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 4,978,532 shares of the utilities provider’s stock worth $213,974,000 after acquiring an additional 31,942 shares in the last quarter. Dimensional Fund Advisors LP raised its position in NRG Energy by 7.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,061,684 shares of the utilities provider’s stock worth $174,973,000 after acquiring an additional 288,324 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in NRG Energy by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,933,746 shares of the utilities provider’s stock worth $83,306,000 after acquiring an additional 59,080 shares in the last quarter. Finally, Korea Investment CORP raised its position in NRG Energy by 15.7% in the fourth quarter. Korea Investment CORP now owns 930,752 shares of the utilities provider’s stock worth $40,097,000 after acquiring an additional 126,055 shares in the last quarter. Hedge funds and other institutional investors own 97.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NRG. Morgan Stanley raised their price target on NRG Energy from $44.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday, July 21st. Bank of America cut NRG Energy from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $43.00 to $42.00 in a research report on Tuesday, June 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $43.00.

NRG Energy Stock Performance

NRG Energy stock opened at $37.37 on Thursday. The stock’s 50-day moving average is $39.37 and its 200-day moving average is $39.34. The company has a market cap of $8.87 billion, a price-to-earnings ratio of 2.27, a price-to-earnings-growth ratio of 0.44 and a beta of 0.88. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.35. NRG Energy, Inc. has a 12 month low of $34.70 and a 12 month high of $47.82.

NRG Energy (NYSE:NRGGet Rating) last announced its earnings results on Friday, May 6th. The utilities provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.30). NRG Energy had a net margin of 14.95% and a return on equity of 45.51%. The company had revenue of $7.86 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same quarter in the previous year, the business posted $0.84 earnings per share. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. Equities analysts anticipate that NRG Energy, Inc. will post 6.17 earnings per share for the current year.

NRG Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Monday, August 1st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, July 29th. This represents a $1.40 dividend on an annualized basis and a yield of 3.75%. NRG Energy’s dividend payout ratio is currently 8.52%.

NRG Energy Company Profile

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NRG Energy, Inc, together with its subsidiaries, operates as an integrated power company in the United States. It operates through Texas, East, and West. The company is involved in the producing, selling, and delivering electricity and related products and services to approximately 6 million residential, commercial, industrial, and wholesale customers.

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Institutional Ownership by Quarter for NRG Energy (NYSE:NRG)

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