Allstate Corp Has $367,000 Position in NRG Energy, Inc. $NRG

Key Points

• Allstate Corp reduced its stake in NRG Energy by 36.5%, selling 2,212 shares and leaving it with 3,844 shares worth approximately $367,000.
• NRG Energy reported a quarterly earnings miss with $1.68 EPS, below analyst expectations of $1.72, while revenue hit $6.74 billion, exceeding estimates.
• The company's dividend yield stands at 1.2% with a recent quarterly payment of $0.44, reflecting a payout ratio of 79.64%.

Allstate Corp trimmed its stake in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 36.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,844 shares of the utilities provider's stock after selling 2,212 shares during the period. Allstate Corp's holdings in NRG Energy were worth $367,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Zions Bancorporation National Association UT bought a new stake in shares of NRG Energy during the first quarter worth approximately $28,000. Key Financial Inc bought a new stake in shares of NRG Energy during the first quarter worth approximately $30,000. Evermay Wealth Management LLC bought a new stake in shares of NRG Energy during the first quarter worth approximately $36,000. Park Square Financial Group LLC bought a new stake in shares of NRG Energy during the fourth quarter worth approximately $53,000. Finally, UMB Bank n.a. raised its stake in shares of NRG Energy by 44.0% during the first quarter. UMB Bank n.a. now owns 655 shares of the utilities provider's stock worth $63,000 after buying an additional 200 shares during the last quarter. 97.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NRG has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price target on shares of NRG Energy from $165.00 to $200.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 13th. Jefferies Financial Group upped their target price on shares of NRG Energy from $113.00 to $132.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Citigroup upped their target price 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. Guggenheim upped their target price on shares of NRG Energy from $138.00 to $173.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Finally, Melius started coverage on shares of NRG Energy in a research note on Wednesday, August 20th. They issued a "buy" rating and a $308.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $186.92.

NRG Energy Stock Down 2.1%

Shares of NRG Energy stock traded down $3.14 on Friday, hitting $145.52. The company had a trading volume of 1,560,812 shares, compared to its average volume of 2,914,910. The firm has a market capitalization of $28.15 billion, a P/E ratio of 65.84, a P/E/G ratio of 1.21 and a beta of 1.14. NRG Energy, Inc. has a twelve month low of $76.13 and a twelve month high of $175.96. The company has a debt-to-equity ratio of 5.99, a current ratio of 0.93 and a quick ratio of 0.88. The stock has a 50-day moving average of $154.35 and a 200-day moving average of $130.60.

NRG Energy (NYSE:NRG - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $1.68 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.04). The company had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.63 billion. NRG Energy had a net margin of 1.78% and a return on equity of 88.22%. The firm's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $3.37 EPS. Research analysts predict that NRG Energy, Inc. will post 6.36 earnings per share for the current year.

NRG Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a dividend of $0.44 per share. The ex-dividend date was Friday, August 1st. This represents a $1.76 annualized dividend and a yield of 1.2%. NRG Energy's dividend payout ratio is presently 79.64%.

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.