Axxcess Wealth Management LLC Has $766,000 Stock Holdings in NRG Energy, Inc. $NRG

Key Points

• Axxcess Wealth Management LLC reduced its stake in NRG Energy by 39.3% in the second quarter, now holding 4,770 shares valued at $766,000.
• NRG Energy reported $1.68 earnings per share for the quarter, missing estimates by $0.04, despite revenue of $6.74 billion which exceeded analyst projections.
• The company declared a quarterly dividend of $0.44, representing an annual yield of 1.0% with a payout ratio of 79.64%.

Axxcess Wealth Management LLC lessened its stake in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 39.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,770 shares of the utilities provider's stock after selling 3,088 shares during the period. Axxcess Wealth Management LLC's holdings in NRG Energy were worth $766,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of NRG. Brighton Jones LLC raised its holdings in shares of NRG Energy by 41.8% during the fourth quarter. Brighton Jones LLC now owns 5,187 shares of the utilities provider's stock valued at $468,000 after acquiring an additional 1,528 shares during the period. GAMMA Investing LLC raised its stake in NRG Energy by 10.9% during the 1st quarter. GAMMA Investing LLC now owns 6,928 shares of the utilities provider's stock valued at $661,000 after purchasing an additional 679 shares during the period. Exchange Traded Concepts LLC raised its stake in NRG Energy by 54.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 6,215 shares of the utilities provider's stock valued at $593,000 after purchasing an additional 2,190 shares during the period. Janney Montgomery Scott LLC raised its stake 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 valued at $1,605,000 after purchasing an additional 3,721 shares during the period. Finally, CENTRAL TRUST Co raised its position in NRG Energy by 505.3% during the first quarter. CENTRAL TRUST Co now owns 5,345 shares of the utilities provider's stock valued at $510,000 after buying an additional 4,462 shares during the period. Institutional investors and hedge funds own 97.72% of the company's stock.

NRG Energy Stock Performance

NYSE:NRG opened at $169.22 on Friday. NRG Energy, Inc. has a 1 year low of $79.57 and a 1 year high of $175.96. The firm's fifty day simple moving average is $158.08 and its 200 day simple moving average is $145.52. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 5.99. The firm has a market capitalization of $32.73 billion, a PE ratio of 76.57, a PEG ratio of 1.35 and a beta of 1.14.

NRG Energy (NYSE:NRG - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $1.68 earnings per share (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 analyst estimates of $6.63 billion. NRG Energy had a net margin of 1.78% and a return on equity of 88.22%. The company's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $3.37 earnings per share. On average, sell-side analysts anticipate that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were paid a $0.44 dividend. The ex-dividend date was Friday, August 1st. This represents a $1.76 annualized dividend and a dividend yield of 1.0%. NRG Energy's dividend payout ratio (DPR) is presently 79.64%.

Analyst Ratings Changes

Several brokerages have weighed in on NRG. Scotiabank began coverage on NRG Energy in a research report on Monday, September 22nd. They issued a "sector outperform" rating and a $212.00 target price on the stock. BMO Capital Markets increased their price objective on NRG Energy from $167.00 to $185.00 and gave the stock a "market perform" rating in a report on Wednesday, August 6th. Wall Street Zen lowered shares of NRG Energy from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Weiss Ratings restated a "hold (c)" rating on shares of NRG Energy in a research note on Wednesday, October 8th. Finally, Melius Research assumed coverage on shares of NRG Energy in a research report on Wednesday, August 20th. They set a "buy" rating and a $308.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, NRG Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $188.85.

Insider Activity

In other news, VP Dak Liyanearachchi sold 10,672 shares of the firm'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 sale, the vice president owned 48,571 shares in the company, valued at approximately $7,528,505. This trade represents a 18.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.86% of the company's stock.

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.

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