DekaBank Deutsche Girozentrale Reduces Holdings in NRG Energy, Inc. $NRG

Key Points

• DekaBank Deutsche Girozentrale has reduced its holdings in NRG Energy, Inc. by 47.6% during the second quarter, bringing its total shares down to 31,518, valued at approximately $5.12 million.
• Institutional investors currently own 97.72% of NRG Energy's stock, indicating significant interest from large financial entities.
• NRG Energy announced a quarterly dividend of $0.44, representing an annualized yield of 1.0%, set to be paid on November 17th.

DekaBank Deutsche Girozentrale lowered its position in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 47.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,518 shares of the utilities provider's stock after selling 28,616 shares during the period. DekaBank Deutsche Girozentrale's holdings in NRG Energy were worth $5,119,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in NRG. Goldman Sachs Group Inc. grew its position in shares of 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 buying an additional 6,049,247 shares in the last quarter. Amundi grew its position in shares of NRG Energy by 772.5% during the first quarter. Amundi now owns 4,378,022 shares of the utilities provider's stock worth $406,342,000 after buying an additional 3,876,235 shares in the last quarter. Boston Partners grew its position in shares of 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 buying an additional 1,771,829 shares in the last quarter. Nuveen LLC acquired a new stake in shares of NRG Energy during the first quarter worth approximately $93,075,000. Finally, Alliancebernstein L.P. grew its position in shares of NRG Energy by 289.1% during the first quarter. Alliancebernstein L.P. now owns 1,023,168 shares of the utilities provider's stock worth $97,672,000 after buying an additional 760,201 shares in the last quarter. Institutional investors and hedge funds own 97.72% of the company's stock.

Insider Transactions at NRG Energy

In related news, VP Dak Liyanearachchi sold 10,672 shares of NRG Energy 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 sale, the vice president directly owned 48,571 shares in the company, valued at $7,528,505. The trade was a 18.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.86% of the company's stock.

NRG Energy Stock Performance

NRG stock opened at $170.12 on Friday. The company has a debt-to-equity ratio of 5.99, a quick ratio of 0.88 and a current ratio of 0.93. The stock has a market capitalization of $32.91 billion, a price-to-earnings ratio of 76.98 and a beta of 1.14. NRG Energy, Inc. has a 1 year low of $79.57 and a 1 year high of $175.96. The stock's fifty day moving average is $159.24 and its two-hundred day moving average is $148.09.

NRG Energy (NYSE:NRG - Get Free Report) last posted its earnings results on Wednesday, August 6th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%. The business's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.37 earnings per share. On average, research 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 will be paid on Monday, November 17th. Shareholders of record on Monday, November 3rd will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Monday, November 3rd. NRG Energy's dividend payout ratio (DPR) is presently 79.64%.

Analyst Upgrades and Downgrades

NRG has been the subject of a number of recent analyst reports. BMO Capital Markets raised their price target 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. Scotiabank began coverage on shares of NRG Energy in a report on Monday, September 22nd. They issued a "sector outperform" rating and a $212.00 price objective for the company. Melius began coverage on shares of NRG Energy in a report on Wednesday, August 20th. They issued a "buy" rating and a $308.00 price objective for the company. Barclays lifted their price objective on shares of NRG Energy from $197.00 to $203.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of NRG Energy in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $197.46.

NRG Energy 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.

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