BI Asset Management Fondsmaeglerselskab A S Reduces Stock Holdings in NRG Energy, Inc. $NRG

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its stake in NRG Energy by 84.3%, leaving it with a position valued at $973,000 after selling over 54,000 shares in the first quarter.
• NRG Energy reported earnings per share of $1.68 for the last quarter, missing analysts' estimates by $0.04, despite achieving revenues of $6.74 billion, surpassing expectations.
• The utility company declared a quarterly dividend of $0.44 per share, equating to an annualized yield of 1.2%, with a payout ratio of 79.64%.

BI Asset Management Fondsmaeglerselskab A S reduced its stake in NRG Energy, Inc. (NYSE:NRG - Free Report) by 84.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,196 shares of the utilities provider's stock after selling 54,558 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in NRG Energy were worth $973,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. GW&K Investment Management LLC grew its stake in shares of NRG Energy by 23.8% in the first quarter. GW&K Investment Management LLC now owns 672 shares of the utilities provider's stock worth $64,000 after acquiring an additional 129 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of NRG Energy by 99.2% during the first quarter. Envestnet Asset Management Inc. now owns 413,911 shares of the utilities provider's stock valued at $39,512,000 after buying an additional 206,096 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in shares of NRG Energy by 54.4% during the first quarter. Exchange Traded Concepts LLC now owns 6,215 shares of the utilities provider's stock valued at $593,000 after buying an additional 2,190 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of NRG Energy by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 23,728 shares of the utilities provider's stock valued at $2,265,000 after buying an additional 630 shares during the last quarter. Finally, Graham Capital Management L.P. purchased a new stake in shares of NRG Energy during the fourth quarter valued at $276,000. 97.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on NRG shares. Melius started coverage on NRG Energy in a research report on Wednesday, August 20th. They set a "buy" rating and a $308.00 price objective on the stock. Citigroup increased their price objective on NRG Energy from $133.00 to $185.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Jefferies Financial Group increased their price objective on NRG Energy from $113.00 to $132.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Guggenheim increased their price objective on NRG Energy from $138.00 to $173.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Finally, Wall Street Zen cut NRG Energy from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. One equities 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $186.92.

NRG Energy Stock Performance

Shares of NYSE NRG traded up $2.03 during trading on Wednesday, hitting $148.26. The company had a trading volume of 1,112,808 shares, compared to its average volume of 3,178,186. The stock has a 50 day simple moving average of $154.63 and a 200 day simple moving average of $129.89. The company has a debt-to-equity ratio of 5.99, a quick ratio of 0.88 and a current ratio of 0.93. NRG Energy, Inc. has a 12 month low of $76.13 and a 12 month high of $175.96. The firm has a market capitalization of $28.68 billion, a P/E ratio of 67.03, a price-to-earnings-growth ratio of 1.18 and a beta of 1.14.

NRG Energy (NYSE:NRG - Get Free Report) last issued its 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 for the quarter, compared to the consensus estimate of $6.63 billion. NRG Energy had a net margin of 1.78% and a return on equity of 88.22%. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the business posted $3.37 EPS. As a group, analysts anticipate that NRG Energy, Inc. will post 6.36 earnings per share for the current year.

NRG Energy Announces Dividend

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

Insiders Place Their Bets

In other NRG Energy news, Director Kevin Howell sold 50,000 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $154.50, for a total transaction of $7,725,000.00. Following the completion of the transaction, the director owned 55,427 shares in the company, valued at $8,563,471.50. This trade represents a 47.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.61% of the stock is owned by corporate insiders.

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.