Beacon Harbor Wealth Advisors Inc. Cuts Stock Holdings in NRG Energy, Inc. $NRG

Beacon Harbor Wealth Advisors Inc. lessened its position in NRG Energy, Inc. (NYSE:NRG) by 14.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,878 shares of the utilities provider’s stock after selling 9,084 shares during the quarter. NRG Energy comprises 2.2% of Beacon Harbor Wealth Advisors Inc.’s holdings, making the stock its 11th largest position. Beacon Harbor Wealth Advisors Inc.’s holdings in NRG Energy were worth $8,812,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Toth Financial Advisory Corp acquired a new position in NRG Energy in the 2nd quarter valued at $27,000. Zions Bancorporation National Association UT acquired a new stake in shares of NRG Energy in the first quarter valued at about $28,000. Bank of Jackson Hole Trust acquired a new stake in shares of NRG Energy in the second quarter valued at about $28,000. Fourth Dimension Wealth LLC purchased a new position in shares of NRG Energy in the second quarter worth about $32,000. Finally, Evermay Wealth Management LLC acquired a new position in NRG Energy during the first quarter worth about $36,000. 97.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NRG Energy

In other news, VP Dak Liyanearachchi sold 10,672 shares of NRG Energy stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $155.00, for a total value of $1,654,160.00. Following the completion of the sale, the vice president directly owned 48,571 shares of the company’s stock, valued at approximately $7,528,505. The trade was a 18.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.86% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Morgan Stanley decreased their target price on shares of NRG Energy from $145.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 28th. Wells Fargo & Company upgraded NRG Energy to a “strong-buy” rating in a research report on Tuesday, October 28th. Jefferies Financial Group restated a “buy” rating and issued a $198.00 target price on shares of NRG Energy in a report on Monday, October 20th. Melius began coverage on NRG Energy in a report on Wednesday, August 20th. They set a “buy” rating and a $308.00 price target on the stock. Finally, Wall Street Zen cut shares of NRG Energy from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Three analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $198.31.

NRG Energy Trading Down 0.7%

NYSE NRG opened at $165.07 on Friday. The company has a debt-to-equity ratio of 5.99, a current ratio of 0.93 and a quick ratio of 0.88. The stock has a market capitalization of $31.63 billion, a P/E ratio of 74.69 and a beta of 1.16. The firm’s 50-day moving average is $166.26 and its two-hundred day moving average is $155.94. NRG Energy, Inc. has a 12 month low of $79.57 and a 12 month high of $180.54.

NRG Energy (NYSE:NRG) last announced its quarterly earnings results on Thursday, November 6th. The utilities provider reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.85. NRG Energy had a net margin of 1.78% and a return on equity of 88.22%. The business had revenue of $7.64 billion during the quarter, compared to analysts’ expectations of $7.53 billion. During the same period last year, the business earned $1.90 earnings per share. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, sell-side analysts anticipate that NRG Energy, Inc. will post 6.36 earnings per share for the current year.

NRG Energy declared that its board has initiated a stock buyback program on Thursday, November 6th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the utilities provider to reacquire up to 9.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

NRG Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, November 3rd will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, November 3rd. NRG Energy’s dividend payout ratio is 26.31%.

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.