Wellington Management Group LLP Lowers Holdings in NRG Energy, Inc. (NYSE:NRG)

Wellington Management Group LLP decreased its stake in NRG Energy, Inc. (NYSE:NRG) by 18.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 735,016 shares of the utilities provider’s stock after selling 165,510 shares during the quarter. Wellington Management Group LLP’s holdings in NRG Energy were worth $38,000,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of NRG. Schonfeld Strategic Advisors LLC boosted its stake in shares of NRG Energy by 3,477.2% in the third quarter. Schonfeld Strategic Advisors LLC now owns 976,589 shares of the utilities provider’s stock worth $37,618,000 after buying an additional 949,289 shares during the last quarter. Rubric Capital Management LP boosted its position in NRG Energy by 91.6% during the third quarter. Rubric Capital Management LP now owns 1,318,020 shares of the utilities provider’s stock worth $50,770,000 after purchasing an additional 629,993 shares in the last quarter. SG Americas Securities LLC boosted its position in NRG Energy by 14,547.8% during the fourth quarter. SG Americas Securities LLC now owns 515,310 shares of the utilities provider’s stock worth $26,642,000 after purchasing an additional 511,792 shares in the last quarter. Hudson Bay Capital Management LP purchased a new position in NRG Energy during the third quarter worth approximately $9,687,000. Finally, Wedge Capital Management L L P NC purchased a new position in NRG Energy during the fourth quarter worth approximately $12,131,000. Hedge funds and other institutional investors own 97.72% of the company’s stock.

NRG Energy Price Performance

NYSE:NRG opened at $80.02 on Monday. NRG Energy, Inc. has a one year low of $34.40 and a one year high of $87.58. The company has a debt-to-equity ratio of 3.61, a quick ratio of 0.95 and a current ratio of 1.01. The stock has a market cap of $16.68 billion, a PE ratio of 11.33 and a beta of 1.07. The stock has a 50 day moving average price of $78.48 and a 200 day moving average price of $64.32.

NRG Energy (NYSE:NRG) last posted its quarterly earnings results on Tuesday, May 7th. The utilities provider reported $0.80 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.12). NRG Energy had a net margin of 5.76% and a return on equity of 42.60%. The company had revenue of $7.43 billion during the quarter. Equities research analysts expect that NRG Energy, Inc. will post 4.5 EPS for the current fiscal year.

NRG Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were issued a $0.4075 dividend. The ex-dividend date was Tuesday, April 30th. This represents a $1.63 annualized dividend and a dividend yield of 2.04%. NRG Energy’s dividend payout ratio is presently 23.09%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NRG shares. Evercore ISI increased their price target on NRG Energy from $55.00 to $65.00 and gave the stock an “in-line” rating in a research report on Monday, March 18th. Wells Fargo & Company increased their price target on NRG Energy from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 15th. Morgan Stanley increased their price target on NRG Energy from $70.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 28th. StockNews.com upgraded NRG Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Finally, Citigroup raised their target price on NRG Energy from $52.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, NRG Energy presently has an average rating of “Hold” and an average target price of $68.00.

Insider Activity at NRG Energy

In related news, insider Rasesh M. Patel sold 24,546 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $83.41, for a total value of $2,047,381.86. Following the completion of the sale, the insider now owns 266,064 shares of the company’s stock, valued at $22,192,398.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.86% of the company’s stock.

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.