NRG Energy, Inc. $NRG Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lessened its stake in NRG Energy, Inc. (NYSE:NRG) by 58.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 6,757 shares of the utilities provider’s stock after selling 9,634 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in NRG Energy were worth $1,085,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in the business. Brighton Jones LLC grew its holdings in shares of NRG Energy by 41.8% during the fourth quarter. Brighton Jones LLC now owns 5,187 shares of the utilities provider’s stock worth $468,000 after buying an additional 1,528 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of NRG Energy by 10.9% during the first quarter. GAMMA Investing LLC now owns 6,928 shares of the utilities provider’s stock worth $661,000 after buying an additional 679 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of NRG Energy by 54.4% during the first quarter. Exchange Traded Concepts LLC now owns 6,215 shares of the utilities provider’s stock worth $593,000 after buying an additional 2,190 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of NRG Energy by 28.4% during the first quarter. Janney Montgomery Scott LLC now owns 16,815 shares of the utilities provider’s stock worth $1,605,000 after buying an additional 3,721 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in shares of NRG Energy by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 23,728 shares of the utilities provider’s stock worth $2,265,000 after buying an additional 630 shares during the last quarter. Institutional investors and hedge funds own 97.72% of the company’s stock.

Insider Activity

In other news, VP Dak Liyanearachchi sold 10,672 shares of NRG Energy stock in a transaction that occurred 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 sale, the vice president directly owned 48,571 shares in the company, valued at approximately $7,528,505. This trade represents a 18.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.86% of the company’s stock.

NRG Energy Price Performance

Shares of NYSE:NRG opened at $169.22 on Friday. The company has a 50-day moving average price of $158.08 and a 200 day moving average price of $145.82. NRG Energy, Inc. has a 52 week low of $79.57 and a 52 week high of $175.96. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 5.99. The company has a market cap of $32.73 billion, a P/E ratio of 76.57, a PEG ratio of 1.35 and a beta of 1.14.

NRG Energy (NYSE:NRG) last posted 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). 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 analyst estimates of $6.63 billion. During the same quarter in the previous year, the business posted $3.37 earnings per share. NRG Energy’s revenue was up 1.2% on a year-over-year basis. Research analysts predict 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. Stockholders of record on Friday, August 1st were given 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 was Friday, August 1st. NRG Energy’s dividend payout ratio (DPR) is presently 79.64%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of NRG Energy in a report on Wednesday, October 8th. Zacks Research raised NRG Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Barclays raised their price objective on shares of NRG Energy from $197.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Scotiabank began coverage on shares of NRG Energy in a research report on Monday, September 22nd. They issued a “sector outperform” rating and a $212.00 price objective for the company. Finally, Citigroup raised their price objective on shares of NRG Energy from $133.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $188.85.

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.