Elo Mutual Pension Insurance Co Decreases Stock Holdings in NRG Energy, Inc. $NRG

Elo Mutual Pension Insurance Co lessened its stake in NRG Energy, Inc. (NYSE:NRG) by 6.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,553 shares of the utilities provider’s stock after selling 1,594 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in NRG Energy were worth $3,943,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Daymark Wealth Partners LLC raised its position in shares of NRG Energy by 2.2% during the 2nd quarter. Daymark Wealth Partners LLC now owns 2,944 shares of the utilities provider’s stock worth $473,000 after purchasing an additional 64 shares during the last quarter. Donald L. Hagan LLC raised its holdings in shares of NRG Energy by 2.0% during the second quarter. Donald L. Hagan LLC now owns 3,384 shares of the utilities provider’s stock valued at $543,000 after acquiring an additional 66 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in shares of NRG Energy by 6.2% in the second quarter. Parkside Financial Bank & Trust now owns 1,437 shares of the utilities provider’s stock valued at $231,000 after acquiring an additional 84 shares in the last quarter. Horizon Investments LLC boosted its stake in shares of NRG Energy by 3.0% in the first quarter. Horizon Investments LLC now owns 2,908 shares of the utilities provider’s stock worth $276,000 after acquiring an additional 86 shares during the last quarter. Finally, Zions Bancorporation National Association UT increased its position in shares of NRG Energy by 32.1% during the second quarter. Zions Bancorporation National Association UT now owns 383 shares of the utilities provider’s stock worth $62,000 after purchasing an additional 93 shares in the last quarter. 97.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Melius Research assumed coverage on NRG Energy in a report on Wednesday, August 20th. They issued a “buy” rating and a $308.00 price objective on the stock. Melius assumed coverage on shares of NRG Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $308.00 price objective for the company. Morgan Stanley reiterated an “underperform” rating on shares of NRG Energy in a report on Thursday, November 20th. Wall Street Zen cut NRG Energy from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Wells Fargo & Company raised NRG Energy to a “strong-buy” rating in a report on Tuesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $198.31.

Insider Activity at NRG Energy

In other NRG Energy news, VP Virginia Kinney sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $163.82, for a total value of $3,276,400.00. Following the sale, the vice president owned 43,191 shares of the company’s stock, valued at $7,075,549.62. The trade was a 31.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Dak Liyanearachchi sold 10,672 shares of the firm’s 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 transaction, the vice president owned 48,571 shares of the company’s stock, valued at approximately $7,528,505. This represents a 18.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.86% of the stock is currently owned by company insiders.

NRG Energy Stock Down 1.9%

Shares of NYSE NRG opened at $163.74 on Wednesday. The company has a market capitalization of $31.38 billion, a P/E ratio of 74.09 and a beta of 1.16. 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 company has a 50 day simple moving average of $166.96 and a 200-day simple moving average of $158.90. NRG Energy, Inc. has a 1 year low of $79.57 and a 1 year high of $180.54.

NRG Energy (NYSE:NRG) last issued its quarterly earnings data on Thursday, November 6th. The utilities provider reported $2.78 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.85. The company had revenue of $7.64 billion during the quarter, compared to analyst estimates of $7.53 billion. NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.The firm’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 research analysts predict that NRG Energy, Inc. will post 6.36 earnings per share for the current year.

NRG Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 3rd were given a dividend of $0.44 per share. The ex-dividend date of this dividend was 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 presently 26.31%.

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

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.