NRG Energy, Inc. $NRG Shares Sold by 49 Wealth Management LLC

49 Wealth Management LLC cut its holdings in shares of NRG Energy, Inc. (NYSE:NRG) by 31.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,362 shares of the utilities provider’s stock after selling 1,078 shares during the quarter. 49 Wealth Management LLC’s holdings in NRG Energy were worth $379,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Toth Financial Advisory Corp purchased a new stake in NRG Energy during the 2nd quarter worth about $27,000. Zions Bancorporation National Association UT acquired a new stake in shares of NRG Energy during the first quarter worth about $28,000. Bank of Jackson Hole Trust purchased a new stake in shares of NRG Energy in the 2nd quarter valued at about $28,000. Key Financial Inc acquired a new stake in NRG Energy during the 1st quarter worth $30,000. Finally, Fourth Dimension Wealth LLC purchased a new stake in NRG Energy during the 2nd quarter valued at approximately $32,000. 97.72% of the stock is owned by institutional investors and hedge funds.

NRG Energy Stock Performance

NRG Energy stock opened at $172.15 on Monday. The stock’s 50 day moving average price is $164.34 and its 200 day moving average price is $154.58. The firm has a market capitalization of $33.30 billion, a PE ratio of 77.90 and a beta of 1.16. NRG Energy, Inc. has a one year low of $79.57 and a one year high of $180.54. The company has a debt-to-equity ratio of 5.99, a quick ratio of 0.88 and a current ratio of 0.93.

NRG Energy (NYSE:NRG) last issued its quarterly earnings results on Thursday, November 6th. The utilities provider reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.85. The firm had revenue of $7.64 billion during the quarter, compared to the consensus estimate of $7.53 billion. NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.NRG Energy’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.90 earnings per share. As a group, sell-side analysts expect that NRG Energy, Inc. will post 6.36 EPS for the current fiscal year.

NRG Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, November 3rd will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, November 3rd. NRG Energy’s dividend payout ratio is currently 26.31%.

NRG Energy declared that its board has initiated a share repurchase plan on Thursday, November 6th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the utilities provider to purchase up to 9.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

NRG has been the topic of a number of analyst reports. Morgan Stanley lowered their price objective on NRG Energy from $145.00 to $144.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 28th. Wells Fargo & Company raised NRG Energy to a “strong-buy” rating in a research note on Tuesday, October 28th. Wall Street Zen lowered NRG Energy from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Barclays lifted their price objective on NRG Energy from $197.00 to $203.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Finally, Citigroup lifted their target price on shares of NRG Energy from $133.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $198.31.

Insider Transactions at NRG Energy

In other news, VP Dak Liyanearachchi sold 10,672 shares of the firm’s stock in a transaction dated 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 directly owned 48,571 shares in the company, valued at approximately $7,528,505. This trade represents a 18.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.86% of the stock is owned by company insiders.

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.