Corebridge Financial Inc. Sells 2,030 Shares of NRG Energy, Inc. $NRG

Key Points

• Corebridge Financial Inc. reduced its stake in NRG Energy by 3.9% during the 1st quarter, selling 2,030 shares and now holds 50,328 shares valued at approximately $4.8 million.
• NRG Energy's stock recently experienced a 2.1% decline and had a market cap of $28.15 billion, with a P/E ratio of 65.84.
• The company announced a quarterly dividend of $0.44 per share, with a current dividend yield of 1.2% and a payout ratio of 79.64%.

Corebridge Financial Inc. reduced its stake in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 3.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,328 shares of the utilities provider's stock after selling 2,030 shares during the quarter. Corebridge Financial Inc.'s holdings in NRG Energy were worth $4,804,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in NRG. Goldman Sachs Group Inc. increased its stake in NRG Energy by 468.4% during the first quarter. Goldman Sachs Group Inc. now owns 4,757,735 shares of the utilities provider's stock worth $454,173,000 after acquiring an additional 6,049,247 shares during the last quarter. Boston Partners increased its stake in NRG Energy by 169.5% during the first quarter. Boston Partners now owns 2,817,018 shares of the utilities provider's stock worth $269,230,000 after acquiring an additional 1,771,829 shares during the last quarter. Nuveen LLC bought a new stake in NRG Energy during the first quarter worth approximately $93,075,000. GAMMA Investing LLC increased its stake in NRG Energy by 10,483.2% during the first quarter. GAMMA Investing LLC now owns 661,347 shares of the utilities provider's stock worth $63,132,000 after acquiring an additional 655,098 shares during the last quarter. Finally, Leigh Baldwin & CO. LLC bought a new position in shares of NRG Energy during the fourth quarter valued at approximately $54,881,000. 97.72% of the stock is owned by institutional investors.

NRG Energy Stock Down 2.1%

Shares of NYSE:NRG opened at $145.52 on Friday. NRG Energy, Inc. has a 52-week low of $76.13 and a 52-week high of $175.96. The stock has a market cap of $28.15 billion, a P/E ratio of 65.84, a price-to-earnings-growth ratio of 1.19 and a beta of 1.14. The business's 50 day moving average is $154.35 and its 200 day moving average is $130.79. 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 announced its quarterly earnings data 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). NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.The firm had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.63 billion. During the same period last year, the company earned $3.37 EPS. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. Sell-side analysts predict that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Announces Dividend

The business also recently announced 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. The ex-dividend date was Friday, August 1st. This represents a $1.76 dividend on an annualized basis and a yield of 1.2%. NRG Energy's dividend payout ratio is currently 79.64%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Guggenheim upped their target price on NRG Energy from $138.00 to $173.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Jefferies Financial Group upped their target price on NRG Energy from $113.00 to $132.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Citigroup upped their target price on NRG Energy from $133.00 to $185.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Raymond James Financial assumed coverage on NRG Energy in a research note on Friday, June 13th. They set a "strong-buy" rating and a $195.00 target price on the stock. Finally, Barclays upped their target price on NRG Energy from $197.00 to $203.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $186.92.

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.

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