PFG Investments LLC Lowers Stock Position in NRG Energy, Inc. $NRG

PFG Investments LLC trimmed its stake in NRG Energy, Inc. (NYSE:NRG) by 6.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 7,871 shares of the utilities provider’s stock after selling 584 shares during the period. PFG Investments LLC’s holdings in NRG Energy were worth $1,264,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in NRG. Toth Financial Advisory Corp purchased a new stake in NRG Energy in the second quarter valued at approximately $27,000. Zions Bancorporation National Association UT acquired a new stake in shares of NRG Energy in the first quarter valued at $28,000. Key Financial Inc purchased a new stake in shares of NRG Energy in the 1st quarter valued at $30,000. Evermay Wealth Management LLC acquired a new position in NRG Energy during the 1st quarter worth about $36,000. Finally, ORG Partners LLC boosted its holdings in NRG Energy by 422.2% during the 2nd quarter. ORG Partners LLC now owns 282 shares of the utilities provider’s stock valued at $44,000 after acquiring an additional 228 shares during the period. Hedge funds and other institutional investors own 97.72% of the company’s stock.

NRG Energy Stock Up 3.3%

Shares of NYSE NRG opened at $167.20 on Friday. The business has a 50-day moving average of $156.94 and a two-hundred day moving average of $140.33. The company has a market capitalization of $32.34 billion, a price-to-earnings ratio of 75.66, a price-to-earnings-growth ratio of 1.32 and a beta of 1.14. NRG Energy, Inc. has a 1 year low of $79.57 and a 1 year high of $175.96. The company has a debt-to-equity ratio of 5.99, a current ratio of 0.93 and a quick ratio of 0.88.

NRG Energy (NYSE:NRG) last issued its earnings results on Wednesday, August 6th. The utilities provider reported $1.68 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.04). The business had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.63 billion. NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.NRG Energy’s revenue was up 1.2% on a year-over-year basis. During the same period last year, the business posted $3.37 EPS. On average, analysts forecast that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a $0.44 dividend. The ex-dividend date was Friday, August 1st. This represents a $1.76 annualized dividend and a dividend yield of 1.1%. NRG Energy’s dividend payout ratio is presently 79.64%.

Insider Activity at NRG Energy

In related news, VP Dak Liyanearachchi sold 10,672 shares of NRG Energy stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $155.00, for a total transaction of $1,654,160.00. Following the sale, the vice president directly owned 48,571 shares in the company, valued at $7,528,505. This trade represents a 18.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.86% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Citigroup increased their price target on shares of NRG Energy from $133.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. Barclays raised their price target on shares of NRG Energy from $197.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Wall Street Zen downgraded shares of NRG Energy from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. BMO Capital Markets increased their price objective on NRG Energy from $167.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, August 6th. Finally, Melius initiated coverage on NRG Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $308.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $188.85.

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.