NRG Energy, Inc. (NYSE:NRG) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its holdings in NRG Energy, Inc. (NYSE:NRG) by 93.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 24,097 shares of the utilities provider’s stock after selling 328,926 shares during the period. Allspring Global Investments Holdings LLC’s holdings in NRG Energy were worth $1,246,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Authentikos Wealth Advisory LLC acquired a new position in NRG Energy in the 3rd quarter valued at $41,000. CENTRAL TRUST Co increased its holdings in shares of NRG Energy by 1,005.5% during the 4th quarter. CENTRAL TRUST Co now owns 807 shares of the utilities provider’s stock worth $42,000 after buying an additional 734 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of NRG Energy by 35.4% during the 4th quarter. Blue Trust Inc. now owns 865 shares of the utilities provider’s stock worth $45,000 after buying an additional 226 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of NRG Energy during the 3rd quarter worth $57,000. Finally, Van ECK Associates Corp increased its holdings in shares of NRG Energy by 9.6% during the 3rd quarter. Van ECK Associates Corp now owns 3,400 shares of the utilities provider’s stock worth $131,000 after buying an additional 297 shares during the last quarter. 97.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NRG shares. BMO Capital Markets upped their price objective on NRG Energy from $58.00 to $59.00 and gave the stock a “market perform” rating in a report on Thursday, February 29th. Evercore ISI upped their price target on shares of NRG Energy from $55.00 to $65.00 and gave the stock an “in-line” rating in a research report on Monday, March 18th. Morgan Stanley upped their price target on shares of NRG Energy from $51.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 26th. StockNews.com raised shares of NRG Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Finally, TheStreet raised shares of NRG Energy from a “c+” rating to a “b” rating in a research report on Friday, December 29th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $59.50.

Insider Transactions at NRG Energy

In related news, VP Rasesh M. Patel sold 49,092 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $62.59, for a total transaction of $3,072,668.28. Following the sale, the vice president now owns 356,962 shares in the company, valued at $22,342,251.58. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

NRG Energy Stock Performance

NYSE:NRG opened at $71.49 on Wednesday. The company has a debt-to-equity ratio of 4.49, a current ratio of 1.02 and a quick ratio of 0.96. The firm has a 50-day moving average of $63.92 and a two-hundred day moving average of $53.69. The stock has a market cap of $15.35 billion, a P/E ratio of -66.81 and a beta of 1.13. NRG Energy, Inc. has a 1-year low of $30.52 and a 1-year high of $76.54.

NRG Energy (NYSE:NRG) last issued its quarterly earnings results on Wednesday, February 28th. The utilities provider reported $1.14 EPS for the quarter, topping the consensus estimate of $0.94 by $0.20. NRG Energy had a negative net margin of 0.70% and a positive return on equity of 44.03%. The business had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $7.51 billion. On average, research analysts expect that NRG Energy, Inc. will post 5.36 earnings per share for the current fiscal year.

NRG Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.4075 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.63 annualized dividend and a dividend yield of 2.28%. NRG Energy’s payout ratio is -152.34%.

About NRG Energy

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.