Mackenzie Financial Corp Lowers Holdings in NRG Energy, Inc. (NYSE:NRG)

Mackenzie Financial Corp trimmed its position in NRG Energy, Inc. (NYSE:NRG) by 0.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 481,918 shares of the utilities provider’s stock after selling 566 shares during the period. Mackenzie Financial Corp’s holdings in NRG Energy were worth $24,915,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in NRG Energy by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,729,390 shares of the utilities provider’s stock valued at $220,696,000 after buying an additional 156,974 shares during the last quarter. Permian Investment Partners LP grew its position in NRG Energy by 1.4% in the 1st quarter. Permian Investment Partners LP now owns 5,326,801 shares of the utilities provider’s stock valued at $204,336,000 after buying an additional 73,000 shares during the last quarter. Geode Capital Management LLC grew its position in NRG Energy by 1.3% in the 1st quarter. Geode Capital Management LLC now owns 5,142,403 shares of the utilities provider’s stock valued at $177,483,000 after buying an additional 64,942 shares during the last quarter. Barclays PLC lifted its holdings in NRG Energy by 25.7% in the second quarter. Barclays PLC now owns 4,356,780 shares of the utilities provider’s stock valued at $162,899,000 after acquiring an additional 891,443 shares during the period. Finally, Northern Trust Corp lifted its holdings in NRG Energy by 8.9% in the third quarter. Northern Trust Corp now owns 2,401,396 shares of the utilities provider’s stock valued at $92,502,000 after acquiring an additional 197,122 shares during the period. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Rasesh M. Patel sold 49,092 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $62.59, for a total transaction of $3,072,668.28. Following the completion of the transaction, the vice president now owns 356,962 shares of the company’s stock, valued at approximately $22,342,251.58. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.86% of the company’s stock.

NRG Energy Stock Down 1.5 %

NYSE:NRG opened at $73.42 on Thursday. The company has a debt-to-equity ratio of 4.49, a quick ratio of 0.96 and a current ratio of 1.02. The company’s 50-day moving average is $62.44 and its two-hundred day moving average is $52.67. NRG Energy, Inc. has a 12-month low of $30.52 and a 12-month high of $76.54.

NRG Energy (NYSE:NRG) last released its earnings results on Wednesday, February 28th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.20. The company had revenue of $6.81 billion for the quarter, compared to analyst estimates of $7.51 billion. NRG Energy had a negative net margin of 0.70% and a positive return on equity of 44.03%. Research analysts expect that NRG Energy, Inc. will post 5.39 EPS for the current fiscal year.

NRG Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a yield of 2.22%. NRG Energy’s dividend payout ratio (DPR) is -152.34%.

Wall Street Analysts Forecast Growth

NRG has been the subject of a number of recent analyst reports. Citigroup raised their target price on NRG Energy from $52.00 to $62.00 and gave the company a “buy” rating in a report on Friday, March 1st. Wells Fargo & Company raised their target price on NRG Energy from $78.00 to $85.00 and gave the company an “overweight” rating in a report on Monday, March 25th. Morgan Stanley raised their target price on NRG Energy from $51.00 to $63.00 and gave the company an “equal weight” rating in a report on Tuesday, March 26th. Evercore ISI lifted their price target on NRG Energy from $55.00 to $65.00 and gave the stock an “in-line” rating in a research note on Monday, March 18th. Finally, BMO Capital Markets lifted their price target on NRG Energy from $58.00 to $59.00 and gave the stock a “market perform” rating in a research note on Thursday, February 29th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $59.50.

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.