Allspring Global Investments Holdings LLC Raises Holdings in NRG Energy, Inc. $NRG

Allspring Global Investments Holdings LLC increased its position in NRG Energy, Inc. (NYSE:NRG) by 70.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,729 shares of the utilities provider’s stock after buying an additional 50,732 shares during the period. Allspring Global Investments Holdings LLC owned 0.06% of NRG Energy worth $20,393,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quent Capital LLC purchased a new position in shares of NRG Energy in the 3rd quarter worth $25,000. Atlantic Union Bankshares Corp grew its position in NRG Energy by 90.4% in the third quarter. Atlantic Union Bankshares Corp now owns 179 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 85 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in NRG Energy during the second quarter worth approximately $35,000. BOKF NA increased its position in shares of NRG Energy by 3,714.3% during the 3rd quarter. BOKF NA now owns 267 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 260 shares during the last quarter. Finally, Beaird Harris Wealth Management LLC raised its holdings in NRG Energy by 1,970.6% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 352 shares of the utilities provider’s stock valued at $57,000 after buying an additional 335 shares during the period. 97.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Morgan Stanley set a $153.00 price target on shares of NRG Energy in a report on Tuesday, February 17th. Barclays cut their target price on NRG Energy from $203.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday. Weiss Ratings lowered NRG Energy from a “buy (b)” rating to a “hold (c+)” rating in a research note on Thursday, February 26th. Wolfe Research raised shares of NRG Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price for the company in a research note on Wednesday, March 18th. Finally, Jefferies Financial Group cut their price target on shares of NRG Energy from $198.00 to $181.00 and set a “buy” rating on the stock in a report on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, NRG Energy presently has an average rating of “Moderate Buy” and a consensus price target of $198.21.

NRG Energy Trading Down 0.1%

Shares of NYSE NRG opened at $152.56 on Friday. NRG Energy, Inc. has a 1-year low of $79.57 and a 1-year high of $189.96. The business has a fifty day moving average price of $158.80 and a 200 day moving average price of $161.60. The stock has a market capitalization of $32.73 billion, a P/E ratio of 38.72 and a beta of 1.35. The company has a debt-to-equity ratio of 15.92, a current ratio of 1.64 and a quick ratio of 1.58.

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

NRG Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 2nd were paid a dividend of $0.475 per share. This is a boost from NRG Energy’s previous quarterly dividend of $0.44. The ex-dividend date was Monday, February 2nd. This represents a $1.90 annualized dividend and a dividend yield of 1.2%. NRG Energy’s dividend payout ratio (DPR) is presently 48.22%.

Insider Activity

In related news, VP Virginia Kinney sold 5,000 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $156.65, for a total transaction of $783,250.00. Following the completion of the sale, the vice president owned 55,495 shares of the company’s stock, valued at $8,693,291.75. This represents a 8.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Robert J. Gaudette sold 45,000 shares of the business’s stock in a transaction 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 transaction, the vice president owned 63,920 shares in the company, valued at approximately $10,147,939.20. This trade represents a 41.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 177,556 shares of company stock worth $28,333,696. 0.86% of the stock is currently owned by insiders.

NRG Energy 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.