Spire Wealth Management Trims Stock Position in NRG Energy, Inc. $NRG

Spire Wealth Management trimmed its position in NRG Energy, Inc. (NYSE:NRG) by 41.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,582 shares of the utilities provider’s stock after selling 1,809 shares during the quarter. Spire Wealth Management’s holdings in NRG Energy were worth $398,000 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 the company. GW&K Investment Management LLC boosted its stake in NRG Energy by 23.8% in the 1st quarter. GW&K Investment Management LLC now owns 672 shares of the utilities provider’s stock worth $64,000 after purchasing an additional 129 shares during the period. Envestnet Asset Management Inc. boosted its stake in NRG Energy by 99.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 413,911 shares of the utilities provider’s stock worth $39,512,000 after purchasing an additional 206,096 shares during the period. J.W. Cole Advisors Inc. boosted its stake in NRG Energy by 32.7% in the 1st quarter. J.W. Cole Advisors Inc. now owns 10,082 shares of the utilities provider’s stock worth $962,000 after purchasing an additional 2,484 shares during the period. Nordea Investment Management AB boosted its position in shares of NRG Energy by 2.7% during the 2nd quarter. Nordea Investment Management AB now owns 10,736 shares of the utilities provider’s stock valued at $1,733,000 after acquiring an additional 279 shares during the last quarter. Finally, Cerity Partners LLC boosted its position in shares of NRG Energy by 8.9% during the 1st quarter. Cerity Partners LLC now owns 30,127 shares of the utilities provider’s stock valued at $2,876,000 after acquiring an additional 2,450 shares during the last quarter. 97.72% of the stock is owned by hedge funds and other institutional investors.

NRG Energy Stock Down 0.7%

Shares of NRG opened at $171.90 on Monday. The company has a market cap of $33.25 billion, a PE ratio of 77.78 and a beta of 1.14. The business has a fifty day moving average of $161.86 and a 200 day moving average of $151.99. NRG Energy, Inc. has a 52-week low of $79.57 and a 52-week high of $180.54. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 5.99.

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

NRG Energy Announces Dividend

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

Insiders Place Their Bets

In other NRG Energy 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 value of $1,654,160.00. Following the sale, the vice president owned 48,571 shares in the company, valued at $7,528,505. This trade represents a 18.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.86% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wells Fargo & Company upgraded NRG Energy to a “strong-buy” rating in a research report on Tuesday, October 28th. Wall Street Zen downgraded NRG Energy from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Melius Research assumed coverage on NRG Energy in a research report on Wednesday, August 20th. They set a “buy” rating and a $308.00 target price for the company. BMO Capital Markets increased their target price on NRG Energy from $167.00 to $185.00 and gave the company a “market perform” rating in a research report on Wednesday, August 6th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $198.00 target price on shares of NRG Energy in a research report on Monday, October 20th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $197.54.

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.