Truist Financial Corp Reduces Stock Holdings in NRG Energy, Inc. (NYSE:NRG)

Truist Financial Corp cut its holdings in NRG Energy, Inc. (NYSE:NRG) by 78.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,954 shares of the utilities provider’s stock after selling 51,070 shares during the period. Truist Financial Corp’s holdings in NRG Energy were worth $522,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Alaska Permanent Fund Corp acquired a new stake in shares of NRG Energy in the second quarter valued at approximately $2,557,000. Daiwa Securities Group Inc. grew its holdings in shares of NRG Energy by 2.7% during the second quarter. Daiwa Securities Group Inc. now owns 17,658 shares of the utilities provider’s stock worth $660,000 after buying an additional 470 shares in the last quarter. Inspire Advisors LLC acquired a new position in shares of NRG Energy in the second quarter valued at approximately $793,000. AM Squared Ltd lifted its stake in shares of NRG Energy by 38.9% during the second quarter. AM Squared Ltd now owns 2,500 shares of the utilities provider’s stock valued at $93,000 after buying an additional 700 shares during the period. Finally, KBC Group NV boosted its position in NRG Energy by 1.9% during the second quarter. KBC Group NV now owns 17,617 shares of the utilities provider’s stock worth $659,000 after acquiring an additional 329 shares during the last quarter. 97.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NRG has been the subject of several analyst reports. UBS Group upgraded NRG Energy from a “sell” rating to a “neutral” rating and boosted their price target for the company from $33.00 to $46.00 in a report on Monday. Morgan Stanley lifted their price target on NRG Energy from $40.00 to $41.00 and gave the company an “equal weight” rating in a report on Wednesday, October 25th. BMO Capital Markets increased their price objective on shares of NRG Energy from $45.00 to $46.00 and gave the stock a “market perform” rating in a report on Wednesday, August 9th. Bank of America boosted their target price on shares of NRG Energy from $43.00 to $46.00 in a report on Thursday, July 20th. Finally, StockNews.com raised shares of NRG Energy from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.80.

NRG Energy Stock Performance

Shares of NRG stock opened at $45.07 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.99 and a debt-to-equity ratio of 3.75. The company has a market cap of $10.18 billion, a PE ratio of -5.10, a P/E/G ratio of 0.66 and a beta of 0.99. The company’s fifty day simple moving average is $40.43 and its 200-day simple moving average is $37.23. NRG Energy, Inc. has a 52 week low of $30.25 and a 52 week high of $46.82.

NRG Energy (NYSE:NRG) last issued its quarterly earnings data on Tuesday, August 8th. The utilities provider reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $2.47 by ($1.22). The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $7.73 billion. NRG Energy had a positive return on equity of 41.72% and a negative net margin of 5.96%. The company’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.33 EPS. As a group, equities research analysts anticipate that NRG Energy, Inc. will post 5.03 EPS for the current year.

NRG Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be given a $0.3775 dividend. This represents a $1.51 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Tuesday, October 31st. NRG Energy’s dividend payout ratio (DPR) is -17.08%.

About NRG Energy

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