Wedge Capital Management L L P NC Decreases Stock Holdings in NRG Energy, Inc. (NYSE:NRG)

Wedge Capital Management L L P NC lowered its position in NRG Energy, Inc. (NYSE:NRG) by 2.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 132,630 shares of the utilities provider’s stock after selling 3,680 shares during the period. Wedge Capital Management L L P NC owned 0.07% of NRG Energy worth $12,661,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Schechter Investment Advisors LLC increased its position in shares of NRG Energy by 0.8% during the 4th quarter. Schechter Investment Advisors LLC now owns 15,916 shares of the utilities provider’s stock worth $1,436,000 after purchasing an additional 120 shares during the last quarter. Avestar Capital LLC increased its position in shares of NRG Energy by 4.7% during the 4th quarter. Avestar Capital LLC now owns 3,046 shares of the utilities provider’s stock worth $275,000 after purchasing an additional 138 shares during the last quarter. Independent Advisor Alliance increased its position in shares of NRG Energy by 5.9% during the 4th quarter. Independent Advisor Alliance now owns 2,619 shares of the utilities provider’s stock worth $236,000 after purchasing an additional 146 shares during the last quarter. Huntington National Bank increased its position in shares of NRG Energy by 28.3% during the 4th quarter. Huntington National Bank now owns 662 shares of the utilities provider’s stock worth $60,000 after purchasing an additional 146 shares during the last quarter. Finally, Keybank National Association OH increased its position in shares of NRG Energy by 5.0% during the 4th quarter. Keybank National Association OH now owns 3,302 shares of the utilities provider’s stock worth $298,000 after purchasing an additional 157 shares during the last quarter. 97.72% of the stock is owned by institutional investors and hedge funds.

NRG Energy Trading Down 0.1%

NRG opened at $155.94 on Monday. The firm has a market cap of $30.49 billion, a price-to-earnings ratio of 39.18, a price-to-earnings-growth ratio of 1.01 and a beta of 1.13. NRG Energy, Inc. has a 52 week low of $65.11 and a 52 week high of $162.33. The business’s 50 day moving average is $123.98 and its two-hundred day moving average is $107.89. The company has a quick ratio of 1.10, a current ratio of 1.17 and a debt-to-equity ratio of 5.57.

NRG Energy (NYSE:NRG) last released its earnings results on Monday, May 12th. The utilities provider reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $1.90. The business had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.28 billion. NRG Energy had a return on equity of 48.96% and a net margin of 3.43%. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.31 earnings per share. On average, research analysts predict that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date was Thursday, May 1st. NRG Energy’s dividend payout ratio is presently 28.39%.

Analyst Upgrades and Downgrades

NRG has been the subject of a number of research analyst reports. Guggenheim raised their target price on NRG Energy from $138.00 to $173.00 and gave the company a “buy” rating in a report on Tuesday, May 13th. Wells Fargo & Company raised their target price on NRG Energy from $165.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, May 13th. BMO Capital Markets restated a “market perform” rating and set a $167.00 target price (up from $115.00) on shares of NRG Energy in a report on Wednesday, May 14th. Wall Street Zen cut NRG Energy from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. Finally, Morgan Stanley lifted their price objective on NRG Energy from $86.00 to $99.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $140.75.

Insider Buying and Selling

In other NRG Energy news, Director Kevin Howell sold 50,000 shares of the business’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $154.50, for a total transaction of $7,725,000.00. Following the sale, the director now directly owns 55,427 shares in the company, valued at approximately $8,563,471.50. The trade was a 47.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.86% of the stock is currently owned by corporate 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.