NRG Energy, Inc. $NRG Shares Sold by Farrow Financial Inc.

Farrow Financial Inc. cut its holdings in shares of NRG Energy, Inc. (NYSE:NRG) by 17.7% in the 2nd quarter, Holdings Channel reports. The firm owned 24,599 shares of the utilities provider’s stock after selling 5,287 shares during the period. NRG Energy makes up approximately 2.4% of Farrow Financial Inc.’s portfolio, making the stock its 13th largest holding. Farrow Financial Inc.’s holdings in NRG Energy were worth $3,950,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in NRG. Geode Capital Management LLC lifted its position in shares of NRG Energy by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 5,411,045 shares of the utilities provider’s stock valued at $865,437,000 after acquiring an additional 39,253 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of NRG Energy by 468.4% during the first quarter. Goldman Sachs Group Inc. now owns 4,757,735 shares of the utilities provider’s stock worth $454,173,000 after purchasing an additional 6,049,247 shares during the period. Amundi boosted its position in shares of NRG Energy by 772.5% in the 1st quarter. Amundi now owns 4,378,022 shares of the utilities provider’s stock valued at $406,342,000 after purchasing an additional 3,876,235 shares during the period. Boston Partners boosted its position in shares of NRG Energy by 169.5% in the 1st quarter. Boston Partners now owns 2,817,018 shares of the utilities provider’s stock valued at $269,230,000 after purchasing an additional 1,771,829 shares during the period. Finally, Appaloosa LP increased its stake in NRG Energy by 12.9% in the 1st quarter. Appaloosa LP now owns 2,050,000 shares of the utilities provider’s stock worth $195,693,000 after purchasing an additional 235,000 shares in the last quarter. Institutional investors and hedge funds own 97.72% of the company’s stock.

NRG Energy Trading Down 0.7%

Shares of NYSE:NRG opened at $165.07 on Monday. The firm has a fifty day moving average of $166.26 and a two-hundred day moving average of $156.59. 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, Inc. has a 12-month low of $79.57 and a 12-month high of $180.54. The firm has a market capitalization of $31.63 billion, a P/E ratio of 74.69 and a beta of 1.16.

NRG Energy (NYSE:NRG) last posted its quarterly earnings results on Thursday, November 6th. The utilities provider reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.85. The business had revenue of $7.64 billion for the quarter, compared to the consensus estimate of $7.53 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 5.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.90 earnings per share. On average, equities analysts expect that NRG Energy, Inc. will post 6.36 EPS for the current fiscal year.

NRG Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 3rd will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.1%. NRG Energy’s dividend payout ratio (DPR) is 26.31%.

NRG Energy announced that its board has initiated a share buyback plan on Thursday, November 6th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the utilities provider to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

NRG has been the subject of several recent analyst reports. BMO Capital Markets raised their target price on shares of NRG Energy from $185.00 to $195.00 and gave the stock a “market perform” rating in a report on Friday, November 7th. Melius assumed coverage on shares of NRG Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $308.00 price objective for the company. Scotiabank initiated coverage on shares of NRG Energy in a research note on Monday, September 22nd. They set a “sector outperform” rating and a $212.00 target price on the stock. Barclays increased their target price on NRG Energy from $197.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Finally, Zacks Research downgraded NRG Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, NRG Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.31.

Insider Activity

In related news, VP Dak Liyanearachchi sold 10,672 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the vice president 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.86% of the stock is currently owned by corporate insiders.

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.