Truist Financial Corp Has $3.09 Million Stake in NRG Energy, Inc. (NYSE:NRG)

Truist Financial Corp reduced its position in shares of NRG Energy, Inc. (NYSE:NRG) by 8.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 59,670 shares of the utilities provider’s stock after selling 5,316 shares during the quarter. Truist Financial Corp’s holdings in NRG Energy were worth $3,085,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Authentikos Wealth Advisory LLC acquired a new position in NRG Energy during the third quarter worth $41,000. CENTRAL TRUST Co lifted its stake in NRG Energy by 1,005.5% in the 4th quarter. CENTRAL TRUST Co now owns 807 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 734 shares during the last quarter. Blue Trust Inc. increased its position in NRG Energy by 35.4% during the fourth quarter. Blue Trust Inc. now owns 865 shares of the utilities provider’s stock worth $45,000 after buying an additional 226 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in NRG Energy in the third quarter valued at approximately $57,000. Finally, GAMMA Investing LLC acquired a new stake in shares of NRG Energy in the fourth quarter valued at approximately $106,000. 97.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NRG has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their target price on NRG Energy from $78.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, March 25th. BMO Capital Markets increased their price target 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. Evercore ISI lifted their price target on NRG Energy from $55.00 to $65.00 and gave the company an “in-line” rating in a research note on Monday, March 18th. Morgan Stanley raised their price objective on NRG Energy from $51.00 to $63.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 26th. Finally, Citigroup boosted their target price on NRG Energy from $52.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $59.50.

Insider Buying and Selling at NRG Energy

In other news, VP Rasesh M. Patel sold 49,092 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $62.59, for a total value of $3,072,668.28. Following the transaction, the vice president now directly owns 356,962 shares of the company’s stock, valued at approximately $22,342,251.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.61% of the company’s stock.

NRG Energy Stock Down 5.8 %

Shares of NYSE NRG opened at $73.40 on Wednesday. NRG Energy, Inc. has a 1 year low of $30.62 and a 1 year high of $83.03. The company has a debt-to-equity ratio of 4.49, a current ratio of 1.02 and a quick ratio of 0.96. The firm has a market cap of $15.76 billion, a PE ratio of -68.60 and a beta of 1.11. The company has a 50 day simple moving average of $68.32 and a 200 day simple moving average of $56.03.

NRG Energy (NYSE:NRG) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $7.51 billion. NRG Energy had a positive return on equity of 44.03% and a negative net margin of 0.70%. On average, research analysts forecast that NRG Energy, Inc. will post 5.36 EPS for the current year.

NRG Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a $0.4075 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $1.63 annualized dividend and a yield of 2.22%. NRG Energy’s payout ratio is -152.34%.

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.