Arvest Investments Inc. Trims Holdings in NRG Energy, Inc. $NRG

Key Points

• Arvest Investments Inc. reduced its holdings in NRG Energy by 29.8% during Q2, owning 7,530 shares worth approximately $1,209,000.
• Several hedge funds have recently increased their positions in NRG Energy, with notable increases including a 136.7% uptick from Geneos Wealth Management.
• Analysts have mixed views on NRG Energy, with target prices ranging from $185.00 to $308.00 alongside a consensus rating of "Moderate Buy".

Arvest Investments Inc. lessened its holdings in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 29.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,530 shares of the utilities provider's stock after selling 3,190 shares during the period. Arvest Investments Inc.'s holdings in NRG Energy were worth $1,209,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Invst LLC purchased a new position in NRG Energy during the 1st quarter valued at about $685,000. Reliant Investment Partners LLC purchased a new position in NRG Energy during the 1st quarter valued at about $209,000. Geneos Wealth Management Inc. increased its holdings in NRG Energy by 136.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,336 shares of the utilities provider's stock valued at $223,000 after purchasing an additional 1,349 shares during the period. Belpointe Asset Management LLC grew its holdings in shares of NRG Energy by 21.0% during the 1st quarter. Belpointe Asset Management LLC now owns 6,312 shares of the utilities provider's stock worth $603,000 after acquiring an additional 1,094 shares during the period. Finally, Integrity Alliance LLC. purchased a new position in shares of NRG Energy during the 1st quarter worth approximately $344,000. Hedge funds and other institutional investors own 97.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NRG. Citigroup upped their target price on NRG Energy from $133.00 to $185.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Raymond James Financial began coverage on NRG Energy in a report on Friday, June 13th. They set a "strong-buy" rating and a $195.00 target price on the stock. Melius began coverage on NRG Energy in a report on Wednesday, August 20th. They set a "buy" rating and a $308.00 target price on the stock. Wall Street Zen downgraded NRG Energy from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Barclays upped their target price on NRG Energy from $197.00 to $203.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, NRG Energy has a consensus rating of "Moderate Buy" and an average target price of $186.92.

Insider Transactions at NRG Energy

In related news, VP Dak Liyanearachchi sold 10,672 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $155.00, for a total value of $1,654,160.00. Following the transaction, the vice president directly owned 48,571 shares of the company's stock, valued at approximately $7,528,505. This represents a 18.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.86% of the company's stock.

NRG Energy Stock Performance

NRG Energy stock opened at $165.06 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 5.99. The company has a market capitalization of $31.93 billion, a P/E ratio of 74.69, a PEG ratio of 1.29 and a beta of 1.17. The stock's 50 day moving average is $153.23 and its 200 day moving average is $133.81. NRG Energy, Inc. has a twelve month low of $77.49 and a twelve month high of $175.96.

NRG Energy (NYSE:NRG - Get Free Report) last posted 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 analysts' expectations of $6.63 billion. NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.The business's quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.37 EPS. On average, equities research analysts predict that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy Announces Dividend

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

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