Federated Hermes Inc. Sells 23,009 Shares of NRG Energy, Inc. (NYSE:NRG)

Federated Hermes Inc. cut its holdings in NRG Energy, Inc. (NYSE:NRG) by 46.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,104 shares of the utilities provider’s stock after selling 23,009 shares during the period. Federated Hermes Inc.’s holdings in NRG Energy were worth $2,032,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Trust Direct Indexing L.P. increased its holdings in NRG Energy by 2.8% in the first quarter. First Trust Direct Indexing L.P. now owns 5,813 shares of the utilities provider’s stock worth $393,000 after purchasing an additional 161 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its stake in NRG Energy by 0.8% during the first quarter. Kingswood Wealth Advisors LLC now owns 23,267 shares of the utilities provider’s stock worth $1,575,000 after acquiring an additional 174 shares in the last quarter. Czech National Bank grew its holdings in NRG Energy by 0.5% in the first quarter. Czech National Bank now owns 39,723 shares of the utilities provider’s stock worth $2,689,000 after purchasing an additional 181 shares during the period. First Horizon Advisors Inc. increased its stake in 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 in the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of NRG Energy by 1.2% during the second quarter. Fifth Third Bancorp now owns 16,962 shares of the utilities provider’s stock valued at $1,321,000 after purchasing an additional 198 shares during the period. 97.72% of the stock is owned by institutional investors and hedge funds.

NRG Energy Price Performance

Shares of NYSE:NRG opened at $87.09 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 stock has a market cap of $18.16 billion, a PE ratio of 12.32 and a beta of 1.10. The stock’s fifty day simple moving average is $78.46 and its two-hundred day simple moving average is $76.11. 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 quarterly 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. The business had revenue of $6.66 billion for the quarter, compared to analysts’ expectations of $8.32 billion. NRG Energy had a net margin of 7.19% and a return on equity of 43.69%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.10 earnings per share. As a group, analysts forecast that NRG Energy, Inc. will post 4.45 EPS for the current fiscal year.

NRG Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were issued a dividend of $0.4075 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.63 dividend on an annualized basis and a yield of 1.87%. NRG Energy’s dividend payout ratio (DPR) is currently 23.09%.

Insiders Place Their Bets

In other news, insider Rasesh M. Patel sold 102,603 shares of the firm’s 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 completion of the sale, the insider now directly owns 163,680 shares of the company’s stock, valued at approximately $13,151,688. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.86% of the company’s stock.

Analysts Set New Price Targets

NRG has been the subject of several research reports. StockNews.com downgraded NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Jefferies Financial Group assumed coverage on NRG Energy in a research note on Friday, September 13th. They issued a “hold” rating and a $82.00 price objective for the company. Wells Fargo & Company increased their target price on NRG Energy from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Finally, Morgan Stanley boosted their price target on shares of NRG Energy from $70.00 to $83.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 28th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, NRG Energy currently has an average rating of “Hold” and a consensus target price of $73.75.

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.