Exchange Traded Concepts LLC Cuts Stock Position in NRG Energy, Inc. $NRG

Exchange Traded Concepts LLC lowered its position in NRG Energy, Inc. (NYSE:NRG) by 14.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,330 shares of the utilities provider’s stock after selling 885 shares during the period. Exchange Traded Concepts LLC’s holdings in NRG Energy were worth $856,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GW&K Investment Management LLC grew its position in shares of NRG Energy by 23.8% in the 1st quarter. GW&K Investment Management LLC now owns 672 shares of the utilities provider’s stock worth $64,000 after buying an additional 129 shares during the last quarter. Envestnet Asset Management Inc. grew its position in NRG Energy by 99.2% during the 1st 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 last quarter. State of Alaska Department of Revenue grew its position in NRG Energy by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 23,728 shares of the utilities provider’s stock worth $2,265,000 after purchasing an additional 630 shares during the last quarter. Janney Montgomery Scott LLC grew its position in NRG Energy by 28.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 16,815 shares of the utilities provider’s stock worth $1,605,000 after purchasing an additional 3,721 shares during the last quarter. Finally, Spire Wealth Management grew its position in NRG Energy by 55.1% during the 1st quarter. Spire Wealth Management now owns 4,391 shares of the utilities provider’s stock worth $419,000 after purchasing an additional 1,560 shares during the last quarter. Hedge funds and other institutional investors own 97.72% of the company’s stock.

NRG Energy Stock Down 2.0%

NRG stock opened at $167.53 on Wednesday. The firm’s fifty day simple moving average is $155.25 and its 200-day simple moving average is $137.09. The company has a market capitalization of $32.40 billion, a P/E ratio of 75.80, a price-to-earnings-growth ratio of 1.40 and a beta of 1.17. The company has a debt-to-equity ratio of 5.99, a current ratio of 0.93 and a quick ratio of 0.88. NRG Energy, Inc. has a 12 month low of $79.57 and a 12 month high of $175.96.

NRG Energy (NYSE:NRG) last released its quarterly earnings data 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 business had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.63 billion. NRG Energy had a net margin of 1.78% and a return on equity of 88.22%. The firm’s revenue was up 1.2% on a year-over-year basis. During the same period last year, the company earned $3.37 earnings per share. As a group, equities research analysts forecast that NRG Energy, Inc. will post 6.36 earnings per share for the current year.

NRG Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, August 1st. NRG Energy’s payout ratio is currently 79.64%.

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 shares were sold at an average price of $155.00, for a total value of $1,654,160.00. Following the completion of the transaction, the vice president directly 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 document filed with the SEC, which is available at the SEC website. 0.61% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NRG has been the topic of several research analyst reports. Barclays boosted their target price on shares of NRG Energy from $197.00 to $203.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. BMO Capital Markets boosted their target price on shares of NRG Energy from $167.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 6th. Wall Street Zen downgraded shares of NRG Energy from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Scotiabank began coverage on shares of NRG Energy in a research report on Monday. They set a “sector outperform” rating and a $212.00 target price on the stock. Finally, Citigroup lifted their price objective on shares of NRG Energy from $133.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, NRG Energy has an average rating of “Moderate Buy” and an average target price of $188.85.

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.