Tredje AP fonden Has $2.78 Million Position in NRG Energy, Inc. (NYSE:NRG)

Tredje AP fonden cut its stake in NRG Energy, Inc. (NYSE:NRG) by 1.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 35,721 shares of the utilities provider’s stock after selling 554 shares during the period. Tredje AP fonden’s holdings in NRG Energy were worth $2,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Rothschild Investment LLC bought a new position in NRG Energy in the 2nd quarter valued at about $32,000. First Horizon Advisors Inc. grew its position in shares of NRG Energy by 76.1% in the second quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 191 shares during the last quarter. LifeSteps Financial Inc. bought a new position in shares of NRG Energy during the first quarter worth approximately $31,000. Innealta Capital LLC acquired a new stake in NRG Energy during the 2nd quarter worth approximately $36,000. Finally, Mather Group LLC. bought a new stake in NRG Energy in the 1st quarter valued at $33,000. Institutional investors and hedge funds own 97.72% of the company’s stock.

Insiders Place Their Bets

In other news, insider Rasesh M. Patel sold 102,603 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $80.35, for a total value of $8,244,151.05. Following the sale, the insider now directly owns 163,680 shares in the company, valued at approximately $13,151,688. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.86% of the company’s stock.

NRG Energy Stock Performance

Shares of NRG Energy stock opened at $81.84 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.11 and a debt-to-equity ratio of 3.51. The company has a market cap of $17.06 billion, a PE ratio of 11.58 and a beta of 1.10. The company has a 50 day moving average of $78.41 and a 200-day moving average of $76.07. NRG Energy, Inc. has a 1-year low of $36.61 and a 1-year high of $87.58.

NRG Energy (NYSE:NRG) last released its earnings results on Thursday, August 8th. The utilities provider reported $3.37 earnings per share for the quarter, topping the consensus estimate of $1.55 by $1.82. NRG Energy had a return on equity of 43.69% and a net margin of 7.19%. The firm had revenue of $6.66 billion during the quarter, compared to analysts’ expectations of $8.32 billion. During the same period in the prior year, the company earned $1.10 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, equities research analysts forecast that NRG Energy, Inc. will post 4.45 earnings per share for the current fiscal year.

NRG Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were given a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Thursday, August 1st. NRG Energy’s dividend payout ratio is presently 23.09%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NRG. Morgan Stanley lifted 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. Jefferies Financial Group assumed coverage on shares of NRG Energy in a research note on Friday, September 13th. They issued a “hold” rating and a $82.00 price objective for the company. StockNews.com lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Finally, Wells Fargo & Company lifted their price target on shares of NRG Energy from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $73.75.

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.