Invesco LLC Sells 12,675 Shares of NRG Energy, Inc. (NYSE:NRG)

Invesco LLC decreased its stake in NRG Energy, Inc. (NYSE:NRG) by 47.7% during the first quarter, Holdings Channel.com reports. The institutional investor owned 13,889 shares of the utilities provider’s stock after selling 12,675 shares during the quarter. Invesco LLC’s holdings in NRG Energy were worth $1,326,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in NRG. Brighton Jones LLC raised its position in NRG Energy by 41.8% during the fourth quarter. Brighton Jones LLC now owns 5,187 shares of the utilities provider’s stock valued at $468,000 after purchasing an additional 1,528 shares in the last quarter. Principal Securities Inc. increased its position in shares of NRG Energy by 34.8% during the 4th quarter. Principal Securities Inc. now owns 2,980 shares of the utilities provider’s stock valued at $269,000 after purchasing an additional 769 shares during the last quarter. Truist Financial Corp raised its holdings in shares of NRG Energy by 83.7% during the 4th quarter. Truist Financial Corp now owns 47,383 shares of the utilities provider’s stock valued at $4,275,000 after buying an additional 21,596 shares in the last quarter. Venturi Wealth Management LLC lifted its position in NRG Energy by 31.6% in the 4th quarter. Venturi Wealth Management LLC now owns 729 shares of the utilities provider’s stock worth $66,000 after buying an additional 175 shares during the last quarter. Finally, Atria Wealth Solutions Inc. boosted its stake in NRG Energy by 32.5% in the fourth quarter. Atria Wealth Solutions Inc. now owns 12,574 shares of the utilities provider’s stock worth $1,134,000 after buying an additional 3,083 shares in the last quarter. Hedge funds and other institutional investors own 97.72% of the company’s stock.

Insider Activity at NRG Energy

In other NRG Energy news, Director Kevin Howell sold 50,000 shares of the firm’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $154.50, for a total value of $7,725,000.00. Following the completion of the sale, the director now directly owns 55,427 shares in the company, valued at $8,563,471.50. This trade represents a 47.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.86% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on NRG shares. Wells Fargo & Company lifted their price target on shares of NRG Energy from $165.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 13th. The Goldman Sachs Group initiated coverage on shares of NRG Energy in a research report on Friday, April 4th. They issued a “buy” rating and a $129.00 target price on the stock. Guggenheim boosted their price target on shares of NRG Energy from $138.00 to $173.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. Wall Street Zen cut NRG Energy from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Finally, Raymond James Financial began coverage on NRG Energy in a research note on Friday, June 13th. They issued a “strong-buy” rating and a $195.00 target price for the company. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, NRG Energy currently has an average rating of “Moderate Buy” and an average target price of $146.78.

NRG Energy Stock Performance

Shares of NYSE:NRG opened at $152.18 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 1.02 and a debt-to-equity ratio of 4.61. The company has a 50-day moving average price of $137.06 and a 200-day moving average price of $111.96. The company has a market cap of $29.75 billion, a price-to-earnings ratio of 24.55, a price-to-earnings-growth ratio of 1.21 and a beta of 1.13. NRG Energy, Inc. has a 12 month low of $65.11 and a 12 month high of $162.33.

NRG Energy (NYSE:NRG) last released its quarterly earnings results on Monday, May 12th. The utilities provider reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $1.90. The business had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.28 billion. NRG Energy had a return on equity of 73.78% and a net margin of 4.66%. NRG Energy’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.31 EPS. As a group, equities analysts anticipate that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Thursday, May 1st. NRG Energy’s payout ratio is 28.39%.

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.