NRG Energy, Inc. (NYSE:NRG) Holdings Cut by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its holdings in shares of NRG Energy, Inc. (NYSE:NRG) by 93.2% during the fourth quarter, Holdings Channel reports. The firm owned 24,097 shares of the utilities provider’s stock after selling 328,926 shares during the period. Allspring Global Investments Holdings LLC’s holdings in NRG Energy were worth $1,246,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. RFG Advisory LLC bought a new position in shares of NRG Energy during the 4th quarter valued at $210,000. International Assets Investment Management LLC raised its holdings in shares of NRG Energy by 1,398.1% during the 4th quarter. International Assets Investment Management LLC now owns 21,034 shares of the utilities provider’s stock valued at $1,087,000 after purchasing an additional 19,630 shares in the last quarter. Strategic Blueprint LLC raised its holdings in shares of NRG Energy by 13.8% during the 4th quarter. Strategic Blueprint LLC now owns 7,471 shares of the utilities provider’s stock valued at $386,000 after purchasing an additional 907 shares in the last quarter. Rocky Mountain Advisers LLC raised its holdings in shares of NRG Energy by 4.7% during the 4th quarter. Rocky Mountain Advisers LLC now owns 72,171 shares of the utilities provider’s stock valued at $3,731,000 after purchasing an additional 3,267 shares in the last quarter. Finally, Tritonpoint Wealth LLC bought a new position in shares of NRG Energy during the 4th quarter valued at $208,000. Institutional investors own 97.72% of the company’s stock.

NRG Energy Stock Performance

NYSE:NRG opened at $71.49 on Wednesday. The firm’s 50-day moving average is $63.92 and its 200-day moving average is $53.69. NRG Energy, Inc. has a 52-week low of $30.52 and a 52-week high of $76.54. The company has a debt-to-equity ratio of 4.49, a quick ratio of 0.96 and a current ratio of 1.02. The company has a market cap of $15.35 billion, a price-to-earnings ratio of -66.81 and a beta of 1.13.

NRG Energy (NYSE:NRG) last posted its earnings results on Wednesday, February 28th. The utilities provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.20. The business had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $7.51 billion. NRG Energy had a negative net margin of 0.70% and a positive return on equity of 44.03%. Equities research analysts anticipate that NRG Energy, Inc. will post 5.36 earnings per share for the current year.

NRG Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a $0.4075 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $1.63 dividend on an annualized basis and a yield of 2.28%. NRG Energy’s payout ratio is currently -152.34%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on NRG shares. Morgan Stanley raised their price target on shares of NRG Energy from $51.00 to $63.00 and gave the company an “equal weight” rating in a report on Tuesday, March 26th. StockNews.com raised shares of NRG Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Wells Fargo & Company boosted their target price on shares of NRG Energy from $78.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, March 25th. TheStreet raised shares of NRG Energy from a “c+” rating to a “b” rating in a research report on Friday, December 29th. Finally, BMO Capital Markets boosted their target price on shares of NRG Energy from $58.00 to $59.00 and gave the stock a “market perform” rating in a research report on Thursday, February 29th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, NRG Energy currently has an average rating of “Hold” and a consensus target price of $59.50.

Insider Activity at NRG Energy

In related news, VP Rasesh M. Patel sold 49,092 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $62.59, for a total value of $3,072,668.28. Following the sale, the vice president now owns 356,962 shares of the company’s stock, valued at $22,342,251.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.61% of the stock is currently owned by insiders.

NRG Energy 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.