Allspring Global Investments Holdings LLC Reduces Stock Position in NRG Energy, Inc. (NYSE:NRG)

Allspring Global Investments Holdings LLC reduced its holdings in NRG Energy, Inc. (NYSE:NRG) by 14.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 330,890 shares of the utilities provider’s stock after selling 55,063 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in NRG Energy were worth $30,144,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. Banco Santander S.A. bought a new position in NRG Energy in the second quarter worth about $217,671,000. Capitolis Liquid Global Markets LLC lifted its position in NRG Energy by 253.2% during the first quarter. Capitolis Liquid Global Markets LLC now owns 1,766,000 shares of the utilities provider’s stock valued at $119,541,000 after buying an additional 1,266,000 shares during the period. Zimmer Partners LP bought a new position in shares of NRG Energy in the 1st quarter worth about $64,306,000. Fred Alger Management LLC purchased a new position in NRG Energy during the 2nd quarter valued at about $53,773,000. Finally, Assenagon Asset Management S.A. boosted its stake in NRG Energy by 65.8% during the second quarter. Assenagon Asset Management S.A. now owns 1,596,684 shares of the utilities provider’s stock worth $124,318,000 after acquiring an additional 633,765 shares in the last quarter. Institutional investors own 97.72% of the company’s stock.

NRG Energy Stock Performance

NYSE NRG opened at $87.73 on Thursday. The company has a market cap of $18.29 billion, a P/E ratio of 12.43 and a beta of 1.10. The business’s 50 day moving average price is $85.30 and its 200-day moving average price is $80.22. NRG Energy, Inc. has a fifty-two week low of $41.02 and a fifty-two week high of $96.40. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.11 and a current ratio of 1.18.

NRG Energy (NYSE:NRG) last released its earnings results on Thursday, August 8th. The utilities provider reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $1.82. The firm 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 43.69% and a net margin of 7.19%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.10 earnings per share. Sell-side analysts predict that NRG Energy, Inc. will post 5.51 earnings per share for the current year.

NRG Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Friday, November 1st. NRG Energy’s dividend payout ratio (DPR) is presently 23.09%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NRG shares. StockNews.com lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Guggenheim boosted their target price on NRG Energy from $77.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Jefferies Financial Group started coverage on NRG Energy in a report on Friday, September 13th. They set a “hold” rating and a $82.00 price target on the stock. BMO Capital Markets boosted their price target on NRG Energy from $88.00 to $90.00 and gave the company a “market perform” rating in a research note on Monday, September 30th. Finally, Wells Fargo & Company upped their target price on shares of NRG Energy from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $83.25.

Insiders Place Their Bets

In other news, insider Rasesh M. Patel sold 102,603 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $80.35, for a total transaction of $8,244,151.05. Following the transaction, the insider now owns 163,680 shares of the company’s stock, valued at approximately $13,151,688. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.86% of the stock is currently owned by company insiders.

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.