Commerce Bank Has $3.11 Million Stock Position in NRG Energy, Inc. (NYSE:NRG)

Key Points

• Commerce Bank has reduced its stock holdings in NRG Energy, Inc. by 7.3%, now owning 32,606 shares valued at $3.11 million.
• Wall Street analysts have a Moderate Buy average rating on NRG Energy, with price targets ranging from $167.00 to $197.00.
• The company recently announced a quarterly dividend of $0.44 per share, representing a yield of 1.0%.

Commerce Bank reduced its holdings in NRG Energy, Inc. (NYSE:NRG - Free Report) by 7.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,606 shares of the utilities provider's stock after selling 2,576 shares during the period. Commerce Bank's holdings in NRG Energy were worth $3,113,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. GW&K Investment Management LLC raised its holdings in shares of NRG Energy by 23.8% in the 1st quarter. GW&K Investment Management LLC now owns 672 shares of the utilities provider's stock worth $64,000 after buying an additional 129 shares in the last quarter. Envestnet Asset Management Inc. increased its position in NRG Energy by 99.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 413,911 shares of the utilities provider's stock worth $39,512,000 after buying an additional 206,096 shares during the period. Exchange Traded Concepts LLC grew its holdings in shares of NRG Energy by 54.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 6,215 shares of the utilities provider's stock worth $593,000 after purchasing an additional 2,190 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of NRG Energy by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 23,728 shares of the utilities provider's stock worth $2,265,000 after buying an additional 630 shares during the last quarter. Finally, Graham Capital Management L.P. bought a new stake in shares of NRG Energy during the 4th quarter worth $276,000. Hedge funds and other institutional investors own 97.72% of the company's stock.

Insider Activity

In other NRG Energy news, Director Kevin Howell sold 50,000 shares of the business'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 sale, the director directly owned 55,427 shares in the company, valued at approximately $8,563,471.50. The trade was a 47.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.86% of the stock is currently owned by insiders.

NRG Energy Stock Performance

NYSE NRG traded up $4.62 during trading on Thursday, reaching $153.18. 3,813,029 shares of the company's stock were exchanged, compared to its average volume of 3,259,266. The company has a debt-to-equity ratio of 4.61, a current ratio of 1.06 and a quick ratio of 1.02. NRG Energy, Inc. has a fifty-two week low of $72.95 and a fifty-two week high of $175.96. The business has a 50 day moving average price of $155.82 and a 200-day moving average price of $125.33. The stock has a market capitalization of $29.95 billion, a P/E ratio of 24.71, a PEG ratio of 1.43 and a beta of 1.14.

NRG Energy (NYSE:NRG - Get Free Report) last announced 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). NRG Energy had a net margin of 4.66% and a return on equity of 73.78%. The company had revenue of $6.74 billion during the quarter, compared to analysts' expectations of $6.63 billion. During the same quarter last year, the firm posted $3.37 earnings per share. NRG Energy's revenue for the quarter was up 1.2% compared to the same quarter last year. Sell-side analysts forecast that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be given a $0.44 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.1%. NRG Energy's payout ratio is presently 79.64%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NRG shares. Wall Street Zen cut shares of NRG Energy from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Barclays upped their price objective on NRG Energy from $197.00 to $203.00 and gave the stock an "overweight" rating in a report on Thursday. Citigroup raised their target price on shares of NRG Energy from $133.00 to $185.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Guggenheim boosted 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, Wells Fargo & Company lifted their price target on shares of NRG Energy from $165.00 to $200.00 and gave the company an "overweight" rating in a research report on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $162.70.

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.