NRG Energy, Inc. $NRG Position Increased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its position in NRG Energy, Inc. (NYSE:NRG) by 2.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 443,856 shares of the utilities provider’s stock after acquiring an additional 10,753 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in NRG Energy were worth $42,455,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of NRG. Reyes Financial Architecture Inc. purchased a new stake in shares of NRG Energy during the 3rd quarter valued at about $27,000. Burkett Financial Services LLC bought a new stake in NRG Energy during the third quarter valued at approximately $30,000. Cassaday & Co Wealth Management LLC purchased a new stake in NRG Energy during the first quarter valued at approximately $33,000. Wellington Altus USA Inc. purchased a new stake in NRG Energy during the second quarter valued at approximately $33,000. Finally, Latitude Advisors LLC bought a new position in NRG Energy in the third quarter worth approximately $35,000. 97.72% of the stock is owned by hedge funds and other institutional investors.

NRG Energy Trading Down 13.8%

NRG Energy stock opened at $82.96 on Thursday. NRG Energy, Inc. has a 1 year low of $81.64 and a 1 year high of $189.96. The firm’s 50 day moving average price is $103.23 and its 200-day moving average price is $134.37. The company has a debt-to-equity ratio of 5.17, a current ratio of 0.97 and a quick ratio of 0.89. The stock has a market cap of $17.50 billion, a P/E ratio of 21.95 and a beta of 1.22.

NRG Energy (NYSE:NRG) last issued its earnings results on Tuesday, August 4th. The utilities provider reported $1.49 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.20). The company had revenue of $7.48 billion for the quarter, compared to the consensus estimate of $7.31 billion. NRG Energy had a return on equity of 52.95% and a net margin of 2.56%. NRG Energy’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.73 EPS. On average, equities analysts predict that NRG Energy, Inc. will post 8.62 earnings per share for the current fiscal year.

NRG Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 2nd will be paid a $0.4750 dividend. The ex-dividend date is Monday, November 2nd. This represents a $1.90 annualized dividend and a yield of 2.3%. NRG Energy’s payout ratio is presently 50.26%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Evercore reiterated an “outperform” rating and set a $195.00 price target on shares of NRG Energy in a research note on Wednesday, August 5th. Williams Trading set a $165.00 target price on NRG Energy in a report on Wednesday, October 21st. BNP Paribas Exane set a $221.00 target price on NRG Energy in a research report on Wednesday, August 19th. Jefferies Financial Group set a $131.00 price target on NRG Energy in a report on Monday, October 19th. Finally, Weiss Ratings upgraded NRG Energy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $173.56.

Insider Buying and Selling

In other NRG Energy news, CAO Gerald Alfred Spencer sold 1,580 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $120.93, for a total transaction of $191,069.40. Following the completion of the transaction, the chief accounting officer owned 6,213 shares of the company’s stock, valued at $751,338.09. This represents a 20.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by insiders.

NRG Energy Profile

NRG Energy, Inc is an integrated power and home services company headquartered in Houston, Texas. The company produces and sells electricity through a diverse generation portfolio that includes natural gas, coal, nuclear power, renewable energy and battery storage. NRG serves wholesale and retail energy markets, with operations and customers primarily in the United States and Canada.

Through retail brands including Reliant and Direct Energy, NRG provides electricity, natural gas and related energy products to residential, commercial and industrial customers.