NRG Energy, Inc. $NRG Holdings Decreased by Bank of Hawaii

Bank of Hawaii reduced its holdings in NRG Energy, Inc. (NYSE:NRG) by 19.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,918 shares of the utilities provider’s stock after selling 4,637 shares during the period. Bank of Hawaii’s holdings in NRG Energy were worth $3,064,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Newbridge Financial Services Group Inc. raised its holdings in shares of NRG Energy by 20.6% during the third quarter. Newbridge Financial Services Group Inc. now owns 1,612 shares of the utilities provider’s stock worth $261,000 after acquiring an additional 275 shares in the last quarter. Brown Brothers Harriman & Co. lifted its holdings in shares of NRG Energy by 34.3% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,743 shares of the utilities provider’s stock valued at $282,000 after buying an additional 445 shares during the last quarter. Corebridge Financial Inc. raised its position in NRG Energy by 4,858.8% during the third quarter. Corebridge Financial Inc. now owns 1,686 shares of the utilities provider’s stock valued at $273,000 after acquiring an additional 1,652 shares in the last quarter. Glenmede Investment Management LP raised its position in NRG Energy by 93.2% during the third quarter. Glenmede Investment Management LP now owns 37,994 shares of the utilities provider’s stock valued at $6,153,000 after acquiring an additional 18,324 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in NRG Energy in the third quarter valued at approximately $811,000. 97.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Bruce Chung sold 12,383 shares of the stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $156.56, for a total transaction of $1,938,682.48. Following the sale, the chief financial officer directly owned 79,147 shares in the company, valued at $12,391,254.32. This represents a 13.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brian Curci sold 46,976 shares of the firm’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $158.84, for a total value of $7,461,667.84. Following the sale, the vice president directly owned 46,113 shares of the company’s stock, valued at $7,324,588.92. This represents a 50.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 172,556 shares of company stock worth $27,550,446 in the last three months. Insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NRG. Evercore began coverage on shares of NRG Energy in a research note on Wednesday, February 25th. They set an “outperform” rating and a $215.00 price target on the stock. UBS Group assumed coverage on shares of NRG Energy in a research note on Tuesday, December 9th. They issued a “buy” rating and a $211.00 price objective for the company. Morgan Stanley set a $153.00 target price on shares of NRG Energy in a research report on Tuesday, February 17th. Zacks Research upgraded NRG Energy from a “strong sell” rating to a “hold” rating in a report on Monday, February 23rd. Finally, Jefferies Financial Group reduced their price target on NRG Energy from $198.00 to $181.00 and set a “buy” rating for the company in a research report on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $196.33.

NRG Energy Trading Up 0.4%

Shares of NRG opened at $152.75 on Friday. The company has a current ratio of 1.64, a quick ratio of 1.58 and a debt-to-equity ratio of 15.92. The stock has a market cap of $32.72 billion, a PE ratio of 38.77 and a beta of 1.26. NRG Energy, Inc. has a 1 year low of $79.57 and a 1 year high of $189.96. The stock has a 50 day simple moving average of $159.01 and a 200-day simple moving average of $161.66.

NRG Energy (NYSE:NRG) last announced its quarterly earnings results on Tuesday, February 24th. The utilities provider reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.15). The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $6.68 billion. NRG Energy had a net margin of 2.81% and a return on equity of 109.48%. The business’s revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the company earned $1.56 earnings per share. On average, sell-side analysts predict that NRG Energy, Inc. will post 6.36 EPS for the current fiscal year.

NRG Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd were issued a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, February 2nd. This is an increase from NRG Energy’s previous quarterly dividend of $0.44. NRG Energy’s dividend payout ratio (DPR) is presently 48.22%.

NRG Energy Company Profile

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.