Byrne Asset Management LLC Has $1.91 Million Position in NRG Energy, Inc. $NRG

Key Points

• Byrne Asset Management LLC reduced its holdings in NRG Energy, Inc. by 11.3% in Q2, now owning 11,877 shares valued at approximately $1.9 million.
• NRG Energy reported quarterly earnings of $1.68 per share, missing estimates, despite revenue of $6.74 billion, exceeding forecasts.
• The company announced a quarterly dividend of $0.44 per share, yielding 1.1% with a payout ratio of 79.64%.

Byrne Asset Management LLC lessened its stake in NRG Energy, Inc. (NYSE:NRG - Free Report) by 11.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,877 shares of the utilities provider's stock after selling 1,515 shares during the quarter. NRG Energy accounts for about 1.3% of Byrne Asset Management LLC's investment portfolio, making the stock its 17th biggest holding. Byrne Asset Management LLC's holdings in NRG Energy were worth $1,907,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Horizon Investments LLC boosted its holdings in shares of NRG Energy by 3.0% in the first quarter. Horizon Investments LLC now owns 2,908 shares of the utilities provider's stock valued at $276,000 after buying an additional 86 shares during the period. Mather Group LLC. boosted its holdings in shares of NRG Energy by 12.1% in the first quarter. Mather Group LLC. now owns 900 shares of the utilities provider's stock valued at $86,000 after buying an additional 97 shares during the period. Cullen Frost Bankers Inc. boosted its holdings in shares of NRG Energy by 13.0% in the first quarter. Cullen Frost Bankers Inc. now owns 904 shares of the utilities provider's stock valued at $86,000 after buying an additional 104 shares during the period. Private Trust Co. NA boosted its holdings in shares of NRG Energy by 8.7% in the first quarter. Private Trust Co. NA now owns 1,482 shares of the utilities provider's stock valued at $141,000 after buying an additional 119 shares during the period. Finally, Allworth Financial LP boosted its holdings in shares of NRG Energy by 19.2% in the first quarter. Allworth Financial LP now owns 758 shares of the utilities provider's stock valued at $72,000 after buying an additional 122 shares during the period. Institutional investors and hedge funds own 97.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NRG. BMO Capital Markets boosted their price objective on shares of NRG Energy from $167.00 to $185.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 6th. Citigroup boosted their price objective on shares of NRG Energy from $133.00 to $185.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Melius began coverage on shares of NRG Energy in a research report on Wednesday, August 20th. They issued a "buy" rating and a $308.00 price objective on the stock. Barclays boosted their price objective on shares of NRG Energy from $197.00 to $203.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Finally, Melius Research began coverage on shares of NRG Energy in a research note on Wednesday, August 20th. They issued a "buy" rating and a $308.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $186.92.

NRG Energy Stock Performance

Shares of NRG traded down $0.32 during trading hours on Friday, hitting $163.87. The company had a trading volume of 4,193,251 shares, compared to its average volume of 3,101,795. The firm has a market cap of $31.70 billion, a price-to-earnings ratio of 74.15, a PEG ratio of 1.34 and a beta of 1.17. The business has a fifty day moving average of $154.17 and a 200-day moving average of $135.29. NRG Energy, Inc. has a 12 month low of $79.57 and a 12 month high of $175.96. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 5.99.

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

NRG Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, August 1st. NRG Energy's dividend payout ratio (DPR) is currently 79.64%.

Insider Buying and Selling

In related news, VP Dak Liyanearachchi sold 10,672 shares of the firm's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $155.00, for a total transaction 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 trade represents a 18.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate 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.