Atria Wealth Solutions Inc. Trims Stock Position in NRG Energy, Inc. $NRG

Atria Wealth Solutions Inc. cut its stake in NRG Energy, Inc. (NYSE:NRG) by 56.3% in the second quarter, Holdings Channel.com reports. The fund owned 9,272 shares of the utilities provider’s stock after selling 11,948 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in NRG Energy were worth $1,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GW&K Investment Management LLC lifted its position in NRG Energy by 23.8% in the first quarter. GW&K Investment Management LLC now owns 672 shares of the utilities provider’s stock valued at $64,000 after acquiring an additional 129 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in NRG Energy by 99.2% in the first quarter. Envestnet Asset Management Inc. now owns 413,911 shares of the utilities provider’s stock valued at $39,512,000 after acquiring an additional 206,096 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in NRG Energy by 54.4% in the first quarter. Exchange Traded Concepts LLC now owns 6,215 shares of the utilities provider’s stock valued at $593,000 after acquiring an additional 2,190 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of NRG Energy by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 23,728 shares of the utilities provider’s stock valued at $2,265,000 after buying an additional 630 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of NRG Energy by 28.4% in the first quarter. Janney Montgomery Scott LLC now owns 16,815 shares of the utilities provider’s stock valued at $1,605,000 after buying an additional 3,721 shares during the last quarter. 97.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Melius assumed coverage on shares of NRG Energy in a report on Wednesday, August 20th. They issued a “buy” rating and a $308.00 target price for the company. Wall Street Zen cut shares of NRG Energy from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. BMO Capital Markets upped their target price on shares of NRG Energy from $167.00 to $185.00 and gave the company a “market perform” rating in a report on Wednesday, August 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NRG Energy in a report on Wednesday, October 8th. Finally, Citigroup upped their target price on shares of NRG Energy from $133.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $188.85.

Insider Activity at NRG Energy

In other news, VP Dak Liyanearachchi sold 10,672 shares of the stock in a transaction that occurred 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 in the company, valued at $7,528,505. This represents a 18.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.86% of the stock is owned by corporate insiders.

NRG Energy Trading Down 0.9%

Shares of NRG opened at $169.72 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 5.99. The firm’s 50-day moving average is $157.75 and its two-hundred day moving average is $145.04. NRG Energy, Inc. has a twelve month low of $79.57 and a twelve month high of $175.96. The firm has a market capitalization of $32.83 billion, a P/E ratio of 76.80, a PEG ratio of 1.37 and a beta of 1.14.

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). NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.The company had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.63 billion. During the same quarter in the previous year, the company posted $3.37 earnings per share. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, research analysts predict that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were given a $0.44 dividend. The ex-dividend date was Friday, August 1st. This represents a $1.76 annualized dividend and a dividend yield of 1.0%. NRG Energy’s dividend payout ratio is currently 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.