Brighton Jones LLC Lowers Holdings in NRG Energy, Inc. (NYSE:NRG)

Brighton Jones LLC reduced its holdings in shares of NRG Energy, Inc. (NYSE:NRG) by 30.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,659 shares of the utilities provider’s stock after selling 1,590 shares during the period. Brighton Jones LLC’s holdings in NRG Energy were worth $333,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Castle Rock Wealth Management LLC grew its position in shares of NRG Energy by 3.5% during the third quarter. Castle Rock Wealth Management LLC now owns 3,746 shares of the utilities provider’s stock worth $356,000 after buying an additional 126 shares in the last quarter. Park Avenue Securities LLC lifted its stake in NRG Energy by 2.8% in the third quarter. Park Avenue Securities LLC now owns 4,910 shares of the utilities provider’s stock worth $447,000 after acquiring an additional 134 shares during the last quarter. First Trust Direct Indexing L.P. grew its holdings in NRG Energy by 2.8% during the 1st quarter. First Trust Direct Indexing L.P. now owns 5,813 shares of the utilities provider’s stock worth $393,000 after acquiring an additional 161 shares in the last quarter. First Horizon Advisors Inc. increased its position in shares of NRG Energy by 76.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 191 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of NRG Energy by 1.2% in the 2nd quarter. Fifth Third Bancorp now owns 16,962 shares of the utilities provider’s stock valued at $1,321,000 after purchasing an additional 198 shares in the last quarter. 97.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NRG has been the subject of a number of analyst reports. Jefferies Financial Group started coverage on shares of NRG Energy in a research note on Friday, September 13th. They set a “hold” rating and a $82.00 target price for the company. Guggenheim raised their target price on NRG Energy from $77.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. StockNews.com cut NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Wells Fargo & Company raised their price objective on shares of NRG Energy from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Finally, BMO Capital Markets upped their target price on shares of NRG Energy from $88.00 to $90.00 and gave the company a “market perform” rating in a report on Monday, September 30th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $83.25.

Insider Buying and Selling

In other NRG Energy news, insider Rasesh M. Patel sold 102,603 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $80.35, for a total value of $8,244,151.05. Following the transaction, the insider now directly owns 163,680 shares of the company’s stock, valued at approximately $13,151,688. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.86% of the company’s stock.

NRG Energy Stock Down 2.0 %

NRG stock opened at $87.53 on Friday. NRG Energy, Inc. has a 12 month low of $41.49 and a 12 month high of $96.40. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.18 and a quick ratio of 1.11. The company has a market cap of $18.25 billion, a price-to-earnings ratio of 12.40 and a beta of 1.10. The company has a fifty day moving average price of $85.63 and a 200 day moving average price of $80.48.

NRG Energy (NYSE:NRG) last announced its earnings results on Thursday, August 8th. The utilities provider reported $3.37 earnings per share for the quarter, topping the consensus estimate of $1.55 by $1.82. The business had revenue of $6.66 billion during the quarter, compared to the consensus estimate of $8.32 billion. NRG Energy had a net margin of 7.19% and a return on equity of 43.69%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.10 earnings per share. Sell-side analysts expect that NRG Energy, Inc. will post 5.51 earnings per share for the current year.

NRG Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Friday, November 1st. NRG Energy’s dividend payout ratio (DPR) is presently 23.09%.

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.