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

Allspring Global Investments Holdings LLC trimmed its position in NRG Energy, Inc. (NYSE:NRG) by 80.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 34,462 shares of the utilities provider’s stock after selling 141,719 shares during the period. Allspring Global Investments Holdings LLC’s holdings in NRG Energy were worth $3,396,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in shares of NRG Energy during the 4th quarter worth approximately $32,000. Exchange Traded Concepts LLC boosted its holdings in shares of NRG Energy by 54.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 6,215 shares of the utilities provider’s stock worth $593,000 after purchasing an additional 2,190 shares during the last quarter. Graham Capital Management L.P. acquired a new position in shares of NRG Energy during the 4th quarter worth approximately $276,000. Townsquare Capital LLC boosted its holdings in shares of NRG Energy by 97.4% during the 4th quarter. Townsquare Capital LLC now owns 5,233 shares of the utilities provider’s stock worth $472,000 after purchasing an additional 2,582 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in shares of NRG Energy by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 23,728 shares of the utilities provider’s stock worth $2,265,000 after purchasing an additional 630 shares during the last quarter. 97.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NRG Energy

In other news, Director Kevin Howell sold 50,000 shares of the company’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $154.50, for a total transaction of $7,725,000.00. Following the sale, the director owned 55,427 shares of the company’s stock, valued at approximately $8,563,471.50. This represents a 47.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.61% of the company’s stock.

NRG Energy Stock Up 2.1%

Shares of NYSE NRG opened at $158.75 on Monday. The firm has a market cap of $31.04 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 1.26 and a beta of 1.13. The company has a quick ratio of 1.02, a current ratio of 1.06 and a debt-to-equity ratio of 4.61. NRG Energy, Inc. has a 52-week low of $65.11 and a 52-week high of $168.57. The business’s 50 day moving average is $147.49 and its two-hundred day moving average is $116.03.

NRG Energy (NYSE:NRG) last announced its earnings results on Monday, May 12th. The utilities provider reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $1.90. The company had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.28 billion. NRG Energy had a return on equity of 73.78% and a net margin of 4.66%. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.31 earnings per share. Research analysts predict that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend was Thursday, May 1st. NRG Energy’s dividend payout ratio is currently 28.39%.

Analyst Upgrades and Downgrades

NRG has been the topic of several recent research reports. The Goldman Sachs Group initiated coverage on NRG Energy in a report on Friday, April 4th. They set a “buy” rating and a $129.00 target price on the stock. Raymond James Financial began coverage on shares of NRG Energy in a research report on Friday, June 13th. They set a “strong-buy” rating and a $195.00 price target on the stock. Jefferies Financial Group lifted their price target on shares of NRG Energy from $113.00 to $132.00 and gave the company a “buy” rating in a research report on Monday, May 5th. Wells Fargo & Company lifted their price target on shares of NRG Energy from $165.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, May 13th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $167.00 price target (up previously from $115.00) on shares of NRG Energy in a research report on Wednesday, May 14th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, NRG Energy presently has an average rating of “Moderate Buy” and a consensus target price of $151.80.

About NRG Energy

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.