Bank of New York Mellon Corp Sells 275,570 Shares of NRG Energy, Inc. $NRG

Bank of New York Mellon Corp lowered its position in NRG Energy, Inc. (NYSE:NRG) by 14.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,642,687 shares of the utilities provider’s stock after selling 275,570 shares during the period. Bank of New York Mellon Corp owned about 0.84% of NRG Energy worth $263,783,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of NRG. Daymark Wealth Partners LLC boosted its stake in shares of NRG Energy by 2.2% in the second quarter. Daymark Wealth Partners LLC now owns 2,944 shares of the utilities provider’s stock worth $473,000 after acquiring an additional 64 shares during the period. Donald L. Hagan LLC lifted its holdings in NRG Energy by 2.0% in the 2nd quarter. Donald L. Hagan LLC now owns 3,384 shares of the utilities provider’s stock worth $543,000 after purchasing an additional 66 shares in the last quarter. Horizon Investments LLC boosted its stake in NRG Energy by 3.0% in the 1st quarter. Horizon Investments LLC now owns 2,908 shares of the utilities provider’s stock worth $276,000 after purchasing an additional 86 shares during the period. Cullen Frost Bankers Inc. grew its holdings in NRG Energy by 13.0% during the 1st quarter. Cullen Frost Bankers Inc. now owns 904 shares of the utilities provider’s stock valued at $86,000 after buying an additional 104 shares in the last quarter. Finally, Private Trust Co. NA raised its position in shares of NRG Energy by 8.7% during the first quarter. Private Trust Co. NA now owns 1,482 shares of the utilities provider’s stock valued at $141,000 after buying an additional 119 shares during the last quarter. 97.72% of the stock is owned by institutional investors.

Insider Activity

In related news, VP Dak Liyanearachchi sold 10,672 shares of the business’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $155.00, for a total transaction of $1,654,160.00. Following the completion of the transaction, the vice president owned 48,571 shares in the company, valued at $7,528,505. The trade was a 18.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NRG. Wall Street Zen lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Weiss Ratings reissued a “hold (c)” rating on shares of NRG Energy in a report on Wednesday, October 8th. Citigroup lifted their target price on NRG Energy from $133.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. BMO Capital Markets boosted their target price on NRG Energy from $167.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 6th. Finally, Barclays lifted their price objective on NRG Energy from $197.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $197.54.

NRG Energy Trading Down 3.7%

Shares of NRG opened at $168.08 on Wednesday. The company’s fifty day simple moving average is $162.90 and its 200-day simple moving average is $153.03. The company has a market cap of $32.51 billion, a P/E ratio of 76.05 and a beta of 1.14. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 5.99. NRG Energy, Inc. has a twelve month low of $79.57 and a twelve month high of $180.54.

NRG Energy (NYSE:NRG) last issued its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $1.68 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.04). NRG Energy had a net margin of 1.78% and a return on equity of 88.22%. The firm had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.63 billion. During the same quarter in the previous year, the company posted $3.37 earnings per share. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, analysts expect that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 3rd will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Monday, November 3rd. NRG Energy’s dividend payout ratio is presently 79.64%.

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.