Central Pacific Bank Trust Division Has $58,000 Stock Holdings in NRG Energy, Inc. (NYSE:NRG)

Central Pacific Bank Trust Division cut its position in shares of NRG Energy, Inc. (NYSE:NRG) by 99.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 635 shares of the utilities provider’s stock after selling 157,000 shares during the quarter. Central Pacific Bank Trust Division’s holdings in NRG Energy were worth $58,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. TD Asset Management Inc boosted its holdings in NRG Energy by 6.6% during the fourth quarter. TD Asset Management Inc now owns 61,518 shares of the utilities provider’s stock valued at $3,180,000 after purchasing an additional 3,782 shares in the last quarter. Bank of Nova Scotia boosted its holdings in NRG Energy by 46.9% during the fourth quarter. Bank of Nova Scotia now owns 20,013 shares of the utilities provider’s stock valued at $1,035,000 after purchasing an additional 6,393 shares in the last quarter. Peapack Gladstone Financial Corp boosted its holdings in NRG Energy by 75.3% during the fourth quarter. Peapack Gladstone Financial Corp now owns 10,522 shares of the utilities provider’s stock valued at $544,000 after purchasing an additional 4,521 shares in the last quarter. Royal London Asset Management Ltd. boosted its holdings in NRG Energy by 0.3% during the fourth quarter. Royal London Asset Management Ltd. now owns 107,079 shares of the utilities provider’s stock valued at $5,536,000 after purchasing an additional 317 shares in the last quarter. Finally, Prudential PLC boosted its holdings in NRG Energy by 29.1% during the fourth quarter. Prudential PLC now owns 13,524 shares of the utilities provider’s stock valued at $699,000 after purchasing an additional 3,049 shares in the last quarter. 97.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wells Fargo & Company lifted their price objective on NRG Energy from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. Jefferies Financial Group assumed coverage on NRG Energy in a report on Friday, September 13th. They issued a “hold” rating and a $82.00 target price on the stock. StockNews.com downgraded NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Finally, BMO Capital Markets boosted their target price on NRG Energy from $88.00 to $90.00 and gave the stock a “market perform” rating in a report on Monday, September 30th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, NRG Energy currently has a consensus rating of “Hold” and a consensus target price of $74.75.

Insiders Place Their Bets

In other NRG Energy news, insider Rasesh M. Patel sold 102,603 shares of the company’s stock in a transaction on Friday, September 13th. The shares were 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 owns 163,680 shares in the company, valued at approximately $13,151,688. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.86% of the company’s stock.

NRG Energy Trading Up 1.4 %

NYSE:NRG traded up $1.30 during trading hours on Friday, hitting $95.35. 2,490,450 shares of the stock were exchanged, compared to its average volume of 3,374,269. The company’s 50 day moving average is $81.47 and its two-hundred day moving average is $78.13. NRG Energy, Inc. has a twelve month low of $37.45 and a twelve month high of $96.20. The company has a quick ratio of 1.11, a current ratio of 1.18 and a debt-to-equity ratio of 3.51. The company has a market capitalization of $19.88 billion, a P/E ratio of 13.51 and a beta of 1.10.

NRG Energy (NYSE:NRG) last posted its quarterly earnings data on Thursday, August 8th. The utilities provider reported $3.37 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $8.32 billion. During the same quarter in the prior year, the business earned $1.10 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, sell-side analysts anticipate that NRG Energy, Inc. will post 5.51 earnings per share for the current fiscal year.

NRG Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were issued a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a yield of 1.71%. The ex-dividend date was Thursday, August 1st. NRG Energy’s dividend payout ratio is 23.09%.

NRG Energy 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.