NRG Energy, Inc. (NYSE:NRG) Shares Sold by Grandfield & Dodd LLC

Grandfield & Dodd LLC lessened its position in shares of NRG Energy, Inc. (NYSE:NRG) by 10.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,700 shares of the utilities provider’s stock after selling 300 shares during the quarter. Grandfield & Dodd LLC’s holdings in NRG Energy were worth $258,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SeaBridge Investment Advisors LLC purchased a new stake in NRG Energy during the 1st quarter valued at about $233,000. Cullen Frost Bankers Inc. grew its stake in NRG Energy by 13.0% during the 1st quarter. Cullen Frost Bankers Inc. now owns 904 shares of the utilities provider’s stock valued at $86,000 after acquiring an additional 104 shares in the last quarter. Victory Capital Management Inc. grew its stake in NRG Energy by 32.2% during the 1st quarter. Victory Capital Management Inc. now owns 992,811 shares of the utilities provider’s stock valued at $94,774,000 after acquiring an additional 242,010 shares in the last quarter. Wealthfront Advisers LLC grew its stake in NRG Energy by 22.1% during the 1st quarter. Wealthfront Advisers LLC now owns 5,751 shares of the utilities provider’s stock valued at $549,000 after acquiring an additional 1,039 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in NRG Energy by 5.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 352,460 shares of the utilities provider’s stock valued at $33,646,000 after acquiring an additional 16,635 shares in the last quarter. Institutional investors and hedge funds own 97.72% of the company’s stock.

Insider Activity

In other news, Director Kevin Howell sold 50,000 shares of the company’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $154.50, for a total value of $7,725,000.00. Following the completion of the transaction, the director owned 55,427 shares in the company, valued at approximately $8,563,471.50. This represents a 47.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

NRG has been the subject of several research reports. Jefferies Financial Group upped their price objective on shares of NRG Energy from $113.00 to $132.00 and gave the company a “buy” rating in a research note on Monday, May 5th. Wall Street Zen raised shares of NRG Energy from a “hold” rating to a “buy” rating in a research note on Friday, June 27th. Barclays set a $197.00 price objective on shares of NRG Energy and gave the company an “overweight” rating in a research note on Thursday, June 26th. BMO Capital Markets reaffirmed a “market perform” rating and set a $167.00 target price (up from $115.00) on shares of NRG Energy in a research note on Wednesday, May 14th. Finally, Raymond James Financial began coverage on shares of NRG Energy in a research note on Friday, June 13th. They set a “strong-buy” rating and a $195.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $151.80.

NRG Energy Price Performance

Shares of NRG opened at $147.01 on Wednesday. NRG Energy, Inc. has a fifty-two week low of $65.11 and a fifty-two week high of $168.57. The firm’s 50 day moving average price is $152.85 and its 200 day moving average price is $118.74. The company has a market cap of $28.74 billion, a P/E ratio of 23.71, a PEG ratio of 1.20 and a beta of 1.13. The company has a quick ratio of 1.02, a current ratio of 1.06 and a debt-to-equity ratio of 4.61.

NRG Energy (NYSE:NRG) last announced its earnings results on Monday, May 12th. The utilities provider reported $2.62 earnings per share for the quarter, topping the consensus estimate of $0.72 by $1.90. NRG Energy had a net margin of 4.66% and a return on equity of 73.78%. The firm had revenue of $8.59 billion for the quarter, compared to the consensus estimate of $8.28 billion. During the same period in the prior year, the firm earned $2.31 EPS. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. On average, research analysts forecast that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

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.