Exchange Traded Concepts LLC Sells 885 Shares of NRG Energy, Inc. $NRG

Exchange Traded Concepts LLC lowered its position in shares of NRG Energy, Inc. (NYSE:NRG) by 14.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,330 shares of the utilities provider’s stock after selling 885 shares during the quarter. Exchange Traded Concepts LLC’s holdings in NRG Energy were worth $856,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Horizon Investments LLC grew its stake in NRG Energy by 3.0% in the 1st quarter. Horizon Investments LLC now owns 2,908 shares of the utilities provider’s stock valued at $276,000 after buying an additional 86 shares in the last quarter. Mather Group LLC. lifted its stake in NRG Energy by 12.1% in the first quarter. Mather Group LLC. now owns 900 shares of the utilities provider’s stock worth $86,000 after purchasing an additional 97 shares during the last quarter. Cullen Frost Bankers Inc. increased its position in shares of NRG Energy by 13.0% in the first quarter. Cullen Frost Bankers Inc. now owns 904 shares of the utilities provider’s stock valued at $86,000 after acquiring an additional 104 shares during the period. Private Trust Co. NA increased its position in shares of NRG Energy by 8.7% in the first quarter. Private Trust Co. NA now owns 1,482 shares of the utilities provider’s stock valued at $141,000 after acquiring an additional 119 shares during the period. Finally, Allworth Financial LP increased its position in shares of NRG Energy by 19.2% in the first quarter. Allworth Financial LP now owns 758 shares of the utilities provider’s stock valued at $72,000 after acquiring an additional 122 shares during the period. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

NRG Energy Price Performance

NRG Energy stock opened at $167.53 on Wednesday. NRG Energy, Inc. has a 12-month low of $79.57 and a 12-month high of $175.96. The firm has a 50-day moving average price of $155.25 and a 200-day moving average price of $137.09. The firm has a market capitalization of $32.40 billion, a PE ratio of 75.80, a price-to-earnings-growth ratio of 1.40 and a beta of 1.17. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 5.99.

NRG Energy (NYSE:NRG) last announced its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $1.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.04). NRG Energy had a net margin of 1.78% and a return on equity of 88.22%. The company had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.63 billion. During the same quarter in the previous year, the business earned $3.37 EPS. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, equities research analysts forecast that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $1.76 dividend on an annualized basis and a yield of 1.1%. NRG Energy’s dividend payout ratio (DPR) is 79.64%.

Insider Buying and Selling

In other news, VP Dak Liyanearachchi sold 10,672 shares of NRG Energy stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $155.00, for a total value of $1,654,160.00. Following the transaction, the vice president owned 48,571 shares of the company’s stock, valued at $7,528,505. The trade was a 18.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NRG shares. Citigroup boosted their price target on shares of NRG Energy from $133.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. Scotiabank initiated coverage on shares of NRG Energy in a research note on Monday. They issued a “sector outperform” rating and a $212.00 target price on the stock. Barclays increased their price objective on shares of NRG Energy from $197.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Raymond James Financial began coverage on shares of NRG Energy in a research report on Friday, June 13th. They issued a “strong-buy” rating and a $195.00 price target on the stock. Finally, Melius Research began coverage on shares of NRG Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $308.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, NRG Energy currently has a consensus rating of “Moderate Buy” and an average price target of $188.85.

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.