NRG Energy, Inc. $NRG Position Reduced by iA Global Asset Management Inc.

iA Global Asset Management Inc. trimmed its stake in shares of NRG Energy, Inc. (NYSE:NRG) by 9.2% during the second quarter, HoldingsChannel reports. The fund owned 17,583 shares of the utilities provider’s stock after selling 1,774 shares during the quarter. iA Global Asset Management Inc.’s holdings in NRG Energy were worth $2,823,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. GW&K Investment Management LLC raised its holdings in shares of NRG Energy by 23.8% during the first quarter. GW&K Investment Management LLC now owns 672 shares of the utilities provider’s stock worth $64,000 after purchasing an additional 129 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of NRG Energy by 99.2% during the first quarter. Envestnet Asset Management Inc. now owns 413,911 shares of the utilities provider’s stock worth $39,512,000 after purchasing an additional 206,096 shares during the period. J.W. Cole Advisors Inc. raised its holdings in shares of NRG Energy by 32.7% during the first quarter. J.W. Cole Advisors Inc. now owns 10,082 shares of the utilities provider’s stock worth $962,000 after purchasing an additional 2,484 shares during the period. Nordea Investment Management AB increased its holdings in shares of NRG Energy by 2.7% in the 2nd quarter. Nordea Investment Management AB now owns 10,736 shares of the utilities provider’s stock worth $1,733,000 after acquiring an additional 279 shares during the period. Finally, Cerity Partners LLC increased its holdings in shares of NRG Energy by 8.9% in the 1st quarter. Cerity Partners LLC now owns 30,127 shares of the utilities provider’s stock worth $2,876,000 after acquiring an additional 2,450 shares during the period. 97.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, VP Dak Liyanearachchi sold 10,672 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The shares were 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 approximately $7,528,505. This trade represents a 18.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.86% of the company’s stock.

NRG Energy Stock Down 0.7%

NRG Energy stock opened at $171.90 on Monday. The stock has a market cap of $33.25 billion, a price-to-earnings ratio of 77.78 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. The company’s 50-day moving average price is $161.86 and its two-hundred day moving average price is $151.99. NRG Energy, Inc. has a 52 week low of $79.57 and a 52 week high of $180.54.

NRG Energy (NYSE:NRG) last released its 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). The company had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.63 billion. NRG Energy had a net margin of 1.78% and a return on equity of 88.22%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $3.37 EPS. On average, analysts expect that NRG Energy, Inc. will post 6.36 EPS for the current fiscal year.

NRG Energy Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $1.76 annualized dividend and a yield of 1.0%. NRG Energy’s dividend payout ratio (DPR) is presently 79.64%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NRG shares. Wells Fargo & Company raised shares of NRG Energy to a “strong-buy” rating in a report on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NRG Energy in a report on Wednesday, October 8th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $198.00 price objective on shares of NRG Energy in a report on Monday, October 20th. Citigroup increased their price objective on shares of NRG Energy from $133.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Finally, BMO Capital Markets increased their price objective on shares of NRG Energy from $167.00 to $185.00 and gave the stock a “market perform” rating in a report on Wednesday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $197.54.

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.