Carret Asset Management LLC Sells 645 Shares of NRG Energy, Inc. $NRG

Carret Asset Management LLC decreased its stake in shares of NRG Energy, Inc. (NYSE:NRG) by 8.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 6,864 shares of the utilities provider’s stock after selling 645 shares during the period. Carret Asset Management LLC’s holdings in NRG Energy were worth $1,102,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Keybank National Association OH acquired a new position in shares of NRG Energy during the second quarter worth approximately $342,000. Premier Path Wealth Partners LLC bought a new position in NRG Energy in the 2nd quarter worth approximately $236,000. World Investment Advisors lifted its holdings in NRG Energy by 37.7% during the 2nd quarter. World Investment Advisors now owns 5,011 shares of the utilities provider’s stock worth $805,000 after buying an additional 1,373 shares in the last quarter. Flagship Harbor Advisors LLC bought a new position in NRG Energy in the 2nd quarter valued at $354,000. Finally, Daymark Wealth Partners LLC boosted its position in NRG Energy by 2.2% in the 2nd quarter. Daymark Wealth Partners LLC now owns 2,944 shares of the utilities provider’s stock valued at $473,000 after buying an additional 64 shares during the last quarter. Institutional investors and hedge funds own 97.72% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wall Street Zen lowered NRG Energy from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Melius started coverage on shares of NRG Energy in a research report on Wednesday, August 20th. They set a “buy” rating and a $308.00 target price on the stock. Citigroup raised their target price on shares of NRG Energy from $133.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. Morgan Stanley lowered their price target on shares of NRG Energy from $145.00 to $144.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, BMO Capital Markets raised their price objective on shares of NRG Energy from $167.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, August 6th. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, NRG Energy has a consensus rating of “Buy” and an average price target of $197.54.

Insider Buying and Selling

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

NRG Energy Trading Down 3.1%

NYSE NRG opened at $172.98 on Friday. NRG Energy, Inc. has a one year low of $79.57 and a one year high of $180.54. The company has a debt-to-equity ratio of 5.99, a current ratio of 0.93 and a quick ratio of 0.88. The firm has a market cap of $33.46 billion, a P/E ratio of 78.27 and a beta of 1.14. The stock’s 50-day moving average is $161.32 and its 200-day moving average is $150.71.

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

NRG Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, November 3rd will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Monday, November 3rd. NRG Energy’s dividend payout ratio (DPR) is presently 79.64%.

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.