Scotia Capital Inc. Sells 11,698 Shares of NRG Energy, Inc. $NRG

Scotia Capital Inc. trimmed its holdings in shares of NRG Energy, Inc. (NYSE:NRG) by 64.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,573 shares of the utilities provider’s stock after selling 11,698 shares during the quarter. Scotia Capital Inc.’s holdings in NRG Energy were worth $1,055,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Hsbc Holdings PLC raised its position in shares of NRG Energy by 7.6% in the 2nd quarter. Hsbc Holdings PLC now owns 452,724 shares of the utilities provider’s stock worth $72,974,000 after acquiring an additional 31,967 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in NRG Energy by 0.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 220,109 shares of the utilities provider’s stock valued at $35,345,000 after purchasing an additional 1,850 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in NRG Energy in the second quarter worth about $530,000. Quadrant Capital Group LLC lifted its position in shares of NRG Energy by 13.7% during the second quarter. Quadrant Capital Group LLC now owns 3,693 shares of the utilities provider’s stock valued at $593,000 after buying an additional 444 shares during the last quarter. Finally, Vinva Investment Management Ltd boosted its holdings in shares of NRG Energy by 161.6% in the 2nd quarter. Vinva Investment Management Ltd now owns 27,821 shares of the utilities provider’s stock valued at $4,526,000 after buying an additional 17,188 shares in the last quarter. Hedge funds and other institutional investors own 97.72% of the company’s stock.

Insider Buying and Selling

In related news, VP Dak Liyanearachchi sold 10,672 shares of the firm’s 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 completion of the transaction, the vice president owned 48,571 shares of the company’s stock, valued at $7,528,505. This trade represents a 18.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Virginia Kinney sold 20,000 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $163.82, for a total transaction of $3,276,400.00. Following the completion of the sale, the vice president directly owned 43,191 shares in the company, valued at approximately $7,075,549.62. The trade was a 31.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.86% of the company’s stock.

NRG Energy Stock Performance

Shares of NRG stock opened at $165.83 on Tuesday. The business has a fifty day moving average of $167.12 and a 200 day moving average of $159.29. NRG Energy, Inc. has a 1 year low of $79.57 and a 1 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 capitalization of $31.78 billion, a price-to-earnings ratio of 75.04 and a beta of 1.16.

NRG Energy (NYSE:NRG) last announced its quarterly earnings data on Thursday, November 6th. The utilities provider reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.85. NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.The business had revenue of $7.64 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same period in the prior year, the company earned $1.90 earnings per share. The company’s revenue was up 5.7% on a year-over-year basis. As a group, research analysts expect that NRG Energy, Inc. will post 6.36 earnings per share for the current year.

NRG Energy declared that its Board of Directors has initiated a stock buyback plan on Thursday, November 6th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the utilities provider to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

NRG Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 3rd were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.1%. The ex-dividend date was Monday, November 3rd. NRG Energy’s dividend payout ratio is 26.31%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. 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 for the company. Melius Research began coverage on NRG Energy in a report on Wednesday, August 20th. They set a “buy” rating and a $308.00 price objective for the company. BMO Capital Markets raised their price objective on NRG Energy from $185.00 to $195.00 and gave the stock a “market perform” rating in a research report on Friday, November 7th. Morgan Stanley reaffirmed an “underperform” rating on shares of NRG Energy in a research report on Thursday, November 20th. Finally, Barclays raised their price target on NRG Energy from $197.00 to $203.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, NRG Energy currently has a consensus rating of “Moderate Buy” and an average price target of $198.31.

NRG Energy 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.