HB Wealth Management LLC Reduces Holdings in NRG Energy, Inc. $NRG

HB Wealth Management LLC reduced its position in NRG Energy, Inc. (NYSE:NRG) by 71.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 6,847 shares of the utilities provider’s stock after selling 16,822 shares during the period. HB Wealth Management LLC’s holdings in NRG Energy were worth $1,109,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in NRG Energy by 41.8% in the fourth quarter. Brighton Jones LLC now owns 5,187 shares of the utilities provider’s stock valued at $468,000 after buying an additional 1,528 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of NRG Energy in the 1st quarter valued at $323,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in NRG Energy by 7.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,257 shares of the utilities provider’s stock valued at $1,934,000 after purchasing an additional 1,381 shares during the last quarter. Woodline Partners LP boosted its stake in NRG Energy by 40.7% during the 1st quarter. Woodline Partners LP now owns 17,114 shares of the utilities provider’s stock worth $1,634,000 after purchasing an additional 4,949 shares during the period. Finally, Belpointe Asset Management LLC grew its position in NRG Energy by 21.0% during the 1st quarter. Belpointe Asset Management LLC now owns 6,312 shares of the utilities provider’s stock worth $603,000 after purchasing an additional 1,094 shares during the last quarter. Hedge funds and other institutional investors own 97.72% of the company’s stock.

Insider Activity at NRG Energy

In other news, CFO Bruce Chung sold 12,383 shares of NRG Energy stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $156.56, for a total transaction of $1,938,682.48. Following the completion of the sale, the chief financial officer directly owned 79,147 shares in the company, valued at approximately $12,391,254.32. This trade represents a 13.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert J. Gaudette sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $158.76, for a total value of $7,144,200.00. Following the completion of the sale, the vice president owned 63,920 shares in the company, valued at approximately $10,147,939.20. This represents a 41.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 192,556 shares of company stock worth $30,826,846 over the last three months. 0.61% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Scotiabank started coverage on shares of NRG Energy in a report on Monday, September 22nd. They issued a “sector outperform” rating and a $212.00 target price for the company. BMO Capital Markets upped their price objective on NRG Energy from $185.00 to $195.00 and gave the company a “market perform” rating in a research note on Friday, November 7th. UBS Group started coverage on NRG Energy in a research report on Tuesday, December 9th. They set a “buy” rating and a $211.00 price objective for the company. Jefferies Financial Group reissued a “buy” rating and issued a $198.00 target price on shares of NRG Energy in a report on Monday, October 20th. Finally, Morgan Stanley reaffirmed an “underperform” rating on shares of NRG Energy in a report on Thursday, November 20th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $199.21.

NRG Energy Stock Performance

Shares of NRG stock opened at $149.61 on Monday. The company has a current ratio of 1.05, a quick ratio of 0.99 and a debt-to-equity ratio of 8.45. The stock has a 50 day simple moving average of $162.87 and a 200-day simple moving average of $160.29. The company has a market cap of $28.67 billion, a price-to-earnings ratio of 22.36 and a beta of 1.25. NRG Energy, Inc. has a 12-month low of $79.57 and a 12-month high of $180.54.

NRG Energy (NYSE:NRG) last posted its quarterly earnings results on Thursday, November 6th. The utilities provider reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.85. The firm had revenue of $7.64 billion for the quarter, compared to the consensus estimate of $7.53 billion. NRG Energy had a return on equity of 103.57% and a net margin of 4.84%.The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.90 earnings per share. On average, equities analysts forecast that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy declared that its Board of Directors has authorized a share repurchase plan on Thursday, November 6th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the utilities provider to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

NRG Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, November 3rd were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Monday, November 3rd. NRG Energy’s dividend payout ratio (DPR) is currently 26.31%.

About NRG Energy

NRG Energy (NYSE: NRG) is a U.S.-based integrated power company headquartered in Houston, Texas. The company develops, owns and operates a diversified portfolio of power generation assets and participates in wholesale and retail energy markets. NRG supplies electricity to utilities, commercial and industrial customers, and retail consumers, while also providing energy-related products and services designed to manage consumption and support reliability.

NRG’s generation mix includes conventional thermal plants as well as renewable and distributed energy resources.