Robertson Stephens Wealth Management LLC Trims Holdings in NRG Energy, Inc. $NRG

Robertson Stephens Wealth Management LLC trimmed its position in NRG Energy, Inc. (NYSE:NRG) by 30.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,384 shares of the utilities provider’s stock after selling 1,047 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in NRG Energy were worth $383,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NRG. Goldman Sachs Group Inc. boosted its stake in NRG Energy by 468.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,757,735 shares of the utilities provider’s stock worth $454,173,000 after purchasing an additional 6,049,247 shares during the period. Amundi boosted its stake in NRG Energy by 772.5% in the 1st quarter. Amundi now owns 4,378,022 shares of the utilities provider’s stock worth $406,342,000 after purchasing an additional 3,876,235 shares during the period. Boston Partners boosted its stake in NRG Energy by 169.5% in the 1st quarter. Boston Partners now owns 2,817,018 shares of the utilities provider’s stock worth $269,230,000 after purchasing an additional 1,771,829 shares during the period. Nuveen LLC bought a new position in NRG Energy in the 1st quarter worth approximately $93,075,000. Finally, Alliancebernstein L.P. boosted its stake in NRG Energy by 289.1% in the 1st quarter. Alliancebernstein L.P. now owns 1,023,168 shares of the utilities provider’s stock worth $97,672,000 after purchasing an additional 760,201 shares during the period. 97.72% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Dak Liyanearachchi sold 10,672 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $155.00, for a total transaction of $1,654,160.00. Following the sale, the vice president owned 48,571 shares in the company, valued at approximately $7,528,505. This represents a 18.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on NRG shares. Scotiabank started coverage on NRG Energy in a research note on Monday, September 22nd. They issued a “sector outperform” rating and a $212.00 price target for the company. Melius started coverage on NRG Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $308.00 price target for the company. Weiss Ratings restated a “hold (c)” rating on shares of NRG Energy in a research note on Wednesday. Wall Street Zen downgraded NRG Energy from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Barclays increased their target price on NRG Energy from $197.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $188.85.

NRG Energy Stock Performance

NYSE:NRG opened at $160.66 on Friday. The stock’s fifty day moving average is $157.20 and its 200 day moving average is $143.34. NRG Energy, Inc. has a fifty-two week low of $79.57 and a fifty-two week high of $175.96. The firm has a market capitalization of $31.08 billion, a PE ratio of 72.70, a PEG ratio of 1.29 and a beta of 1.14. The company has a debt-to-equity ratio of 5.99, a quick ratio of 0.88 and a current ratio of 0.93.

NRG Energy (NYSE:NRG) last released its quarterly 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). NRG Energy had a net margin of 1.78% and a return on equity of 88.22%. The company had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.63 billion. During the same quarter in the previous year, the company posted $3.37 EPS. The business’s quarterly revenue was up 1.2% on a year-over-year basis. On average, sell-side analysts anticipate that NRG Energy, Inc. will post 6.36 earnings per share for the current year.

NRG Energy Announces Dividend

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

NRG Energy Company 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.