Convergence Investment Partners LLC Sells 7,870 Shares of NRG Energy, Inc. (NYSE:NRG)

Convergence Investment Partners LLC lessened its holdings in NRG Energy, Inc. (NYSE:NRG - Free Report) by 24.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,685 shares of the utilities provider's stock after selling 7,870 shares during the period. Convergence Investment Partners LLC's holdings in NRG Energy were worth $2,356,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Key Financial Inc acquired a new position in NRG Energy during the 1st quarter worth $30,000. Mizuho Bank Ltd. bought a new position in NRG Energy during the fourth quarter worth $41,000. CIBC Private Wealth Group LLC raised its position in shares of NRG Energy by 64.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 521 shares of the utilities provider's stock valued at $51,000 after buying an additional 205 shares during the last quarter. Park Square Financial Group LLC acquired a new position in shares of NRG Energy during the fourth quarter valued at about $53,000. Finally, Huntington National Bank raised its position in shares of NRG Energy by 28.3% during the fourth quarter. Huntington National Bank now owns 662 shares of the utilities provider's stock valued at $60,000 after buying an additional 146 shares during the last quarter. Institutional investors and hedge funds own 97.72% of the company's stock.

Insider Buying and Selling

In other NRG Energy news, Director Kevin Howell sold 50,000 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $154.50, for a total value of $7,725,000.00. Following the completion of the transaction, the director directly owned 55,427 shares in the company, valued at approximately $8,563,471.50. This represents a 47.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.86% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on NRG shares. Wall Street Zen cut shares of NRG Energy from a "strong-buy" rating to a "buy" rating in a research note on Saturday. BMO Capital Markets reaffirmed a "market perform" rating and set a $167.00 price objective (up previously from $115.00) on shares of NRG Energy in a research note on Wednesday, May 14th. Jefferies Financial Group upped their target price on NRG Energy from $113.00 to $132.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Barclays set a $197.00 price objective on shares of NRG Energy and gave the company an "overweight" rating in a research report on Thursday, June 26th. Finally, Citigroup raised their target price on shares of NRG Energy from $133.00 to $185.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $160.30.

NRG Energy Stock Down 0.9%

Shares of NRG stock traded down $1.39 on Friday, hitting $156.58. The stock had a trading volume of 2,025,569 shares, compared to its average volume of 2,927,422. The business has a 50 day moving average of $154.71 and a 200 day moving average of $121.83. The stock has a market cap of $30.61 billion, a price-to-earnings ratio of 25.25, a price-to-earnings-growth ratio of 1.31 and a beta of 1.13. 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 12-month low of $65.11 and a 12-month high of $168.57.

NRG Energy (NYSE:NRG - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The utilities provider reported $2.62 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $1.90. The company had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.28 billion. NRG Energy had a net margin of 4.66% and a return on equity of 73.78%. NRG Energy's revenue was up 15.6% compared to the same quarter last year. During the same period last year, the business earned $2.31 earnings per share. As a group, analysts expect that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, August 1st. This represents a $1.76 dividend on an annualized basis and a yield of 1.12%. NRG Energy's dividend payout ratio is currently 28.39%.

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.