Retirement Systems of Alabama Sells 2,049 Shares of NRG Energy, Inc. (NYSE:NRG)

Retirement Systems of Alabama decreased its position in NRG Energy, Inc. (NYSE:NRG) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,757 shares of the utilities provider’s stock after selling 2,049 shares during the quarter. Retirement Systems of Alabama’s holdings in NRG Energy were worth $2,572,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. increased its holdings in NRG Energy by 35.4% during the 4th quarter. Blue Trust Inc. now owns 865 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 226 shares during the period. Teacher Retirement System of Texas raised its holdings in shares of NRG Energy by 1.5% during the third quarter. Teacher Retirement System of Texas now owns 17,828 shares of the utilities provider’s stock valued at $687,000 after acquiring an additional 270 shares in the last quarter. Signaturefd LLC lifted its stake in NRG Energy by 6.9% in the fourth quarter. Signaturefd LLC now owns 4,174 shares of the utilities provider’s stock worth $216,000 after acquiring an additional 271 shares during the period. Coldstream Capital Management Inc. boosted its holdings in NRG Energy by 4.8% in the third quarter. Coldstream Capital Management Inc. now owns 6,371 shares of the utilities provider’s stock valued at $245,000 after acquiring an additional 290 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in NRG Energy by 9.6% during the 3rd quarter. Van ECK Associates Corp now owns 3,400 shares of the utilities provider’s stock valued at $131,000 after purchasing an additional 297 shares during the period. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on NRG shares. Morgan Stanley raised their target price 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. Wells Fargo & Company lifted their price objective on NRG Energy from $78.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, March 25th. Citigroup increased their target price on NRG Energy from $52.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Evercore ISI raised their target price on NRG Energy from $55.00 to $65.00 and gave the company an “in-line” rating in a research note on Monday, March 18th. Finally, BMO Capital Markets upped their price target on NRG Energy from $58.00 to $59.00 and gave the stock a “market perform” rating in a research note on Thursday, February 29th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NRG Energy currently 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 firm’s stock in a transaction that occurred on 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 completion of the sale, the vice president now owns 356,962 shares of the company’s stock, valued at $22,342,251.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.61% of the company’s stock.

NRG Energy Stock Performance

NRG Energy stock opened at $73.40 on Wednesday. The stock’s 50 day moving average is $68.32 and its 200 day moving average is $56.03. The company has a market capitalization of $15.76 billion, a P/E ratio of -68.60 and a beta of 1.11. NRG Energy, Inc. has a twelve month low of $30.62 and a twelve month high of $83.03. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 4.49.

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

NRG Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a $0.4075 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.63 annualized dividend and a yield of 2.22%. NRG Energy’s dividend payout ratio (DPR) is presently -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.