Connectus Wealth LLC Lowers Position in NRG Energy, Inc. (NYSE:NRG)

Connectus Wealth LLC trimmed its stake in NRG Energy, Inc. (NYSE:NRGFree Report) by 13.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 65,444 shares of the utilities provider’s stock after selling 10,412 shares during the quarter. Connectus Wealth LLC’s holdings in NRG Energy were worth $3,383,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. CENTRAL TRUST Co grew its stake in NRG Energy by 1,005.5% during the fourth quarter. CENTRAL TRUST Co now owns 807 shares of the utilities provider’s stock worth $42,000 after buying an additional 734 shares during the period. Blue Trust Inc. grew its stake 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 period. Robeco Institutional Asset Management B.V. purchased a new stake in NRG Energy during the fourth quarter worth approximately $51,000. Quadrant Capital Group LLC grew its stake in NRG Energy by 37.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,524 shares of the utilities provider’s stock worth $79,000 after buying an additional 412 shares during the period. Finally, GAMMA Investing LLC purchased a new stake in NRG Energy during the fourth quarter worth approximately $106,000. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NRG Energy news, VP Rasesh M. Patel sold 49,092 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $62.59, for a total transaction of $3,072,668.28. Following the sale, the vice president now directly owns 356,962 shares of the company’s stock, valued at $22,342,251.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 transaction of $3,072,668.28. Following the completion of the transaction, the vice president now owns 356,962 shares in the company, valued at $22,342,251.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rasesh M. Patel sold 24,546 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $83.41, for a total transaction of $2,047,381.86. Following the transaction, the insider now owns 266,064 shares of the company’s stock, valued at approximately $22,192,398.24. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.

NRG Energy Trading Up 0.1 %

NRG opened at $77.89 on Monday. The stock has a market capitalization of $16.24 billion, a PE ratio of 11.03 and a beta of 1.07. The firm’s fifty day moving average price is $76.96 and its 200 day moving average price is $61.91. The company has a debt-to-equity ratio of 3.61, a current ratio of 1.01 and a quick ratio of 0.95. NRG Energy, Inc. has a 12-month low of $32.94 and a 12-month high of $87.58.

NRG Energy (NYSE:NRGGet Free Report) last issued its earnings results on Tuesday, May 7th. The utilities provider reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.12). NRG Energy had a return on equity of 42.60% and a net margin of 5.76%. As a group, research analysts expect that NRG Energy, Inc. will post 6.08 EPS for the current fiscal year.

NRG Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were issued a dividend of $0.4075 per share. The ex-dividend date was Tuesday, April 30th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.09%. NRG Energy’s dividend payout ratio (DPR) is 23.09%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NRG shares. Evercore ISI boosted their target price on shares of NRG Energy from $55.00 to $65.00 and gave the stock an “in-line” rating in a research report on Monday, March 18th. Morgan Stanley boosted their target price on shares of NRG Energy from $70.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 28th. BMO Capital Markets boosted their target price on shares of NRG Energy from $73.00 to $82.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 8th. StockNews.com raised shares of NRG Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Finally, Citigroup boosted their target price on shares of NRG Energy from $52.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $68.00.

Read Our Latest Stock Report on NRG Energy

NRG Energy Company Profile

(Free Report)

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.

See Also

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

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