Retirement Systems of Alabama Sells 3,843 Shares of NRG Energy, Inc. (NYSE:NRG)

Retirement Systems of Alabama trimmed its position in shares of NRG Energy, Inc. (NYSE:NRG) by 7.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,988 shares of the utilities provider’s stock after selling 3,843 shares during the period. Retirement Systems of Alabama’s holdings in NRG Energy were worth $3,581,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of NRG. LifeSteps Financial Inc. acquired a new stake in shares of NRG Energy during the 1st quarter worth approximately $31,000. Mather Group LLC. acquired a new stake in shares of NRG Energy in the 1st quarter valued at $33,000. First Horizon Advisors Inc. raised its holdings in shares of NRG Energy by 76.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider’s stock worth $34,000 after buying an additional 191 shares in the last quarter. Crewe Advisors LLC bought a new stake in shares of NRG Energy during the 1st quarter worth $36,000. Finally, Central Pacific Bank Trust Division acquired a new stake in NRG Energy in the first quarter valued at about $45,000. 97.72% of the stock is owned by institutional investors.

NRG Energy Trading Down 0.2 %

NYSE NRG opened at $83.60 on Wednesday. The firm has a market capitalization of $17.43 billion, a PE ratio of 11.84 and a beta of 1.08. The business’s 50-day moving average price is $78.04 and its two-hundred day moving average price is $73.11. The company has a current ratio of 1.01, a quick ratio of 0.95 and a debt-to-equity ratio of 3.61. NRG Energy, Inc. has a 12 month low of $36.61 and a 12 month high of $87.58.

NRG Energy (NYSE:NRG) last announced its earnings results on Thursday, August 8th. The utilities provider reported $3.37 EPS for the quarter, beating the consensus estimate of $1.55 by $1.82. The business had revenue of $6.66 billion for the quarter, compared to analysts’ expectations of $8.32 billion. NRG Energy had a return on equity of 42.60% and a net margin of 5.76%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.10 earnings per share. On average, analysts expect that NRG Energy, Inc. will post 4.47 EPS for the current year.

NRG Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were issued a $0.4075 dividend. The ex-dividend date was Thursday, August 1st. This represents a $1.63 annualized dividend and a yield of 1.95%. NRG Energy’s payout ratio is 23.09%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NRG shares. BMO Capital Markets raised their price target on shares of NRG Energy from $73.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday, May 8th. StockNews.com upgraded shares of NRG Energy from a “hold” rating to a “buy” rating in a report on Sunday. Wells Fargo & Company raised their price objective on NRG Energy from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, May 15th. Finally, Morgan Stanley upped their target price on NRG Energy from $70.00 to $83.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 28th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $71.14.

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.