Envestnet Portfolio Solutions Inc. Cuts Position in NRG Energy, Inc. $NRG

Key Points

• Envestnet Portfolio Solutions Inc. reduced its stake in NRG Energy by 58.8% during Q2, holding 6,757 shares valued at approximately $1,085,000.
• NRG Energy's recent earnings report showed $1.68 EPS, missing the expected $1.72, with revenue at $6.74 billion, slightly above estimates.
• The company announced a quarterly dividend of $0.44 per share, reflecting an annualized yield of 1.0% and a payout ratio of 79.64%.

Envestnet Portfolio Solutions Inc. lessened its holdings in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 58.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,757 shares of the utilities provider's stock after selling 9,634 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in NRG Energy were worth $1,085,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in NRG. Toth Financial Advisory Corp acquired a new stake in shares of NRG Energy during the second quarter worth about $27,000. Zions Bancorporation National Association UT purchased a new stake in shares of NRG Energy during the first quarter worth $28,000. Key Financial Inc purchased a new stake in shares of NRG Energy during the first quarter worth $30,000. Evermay Wealth Management LLC purchased a new stake in shares of NRG Energy during the first quarter worth $36,000. Finally, ORG Partners LLC increased its position in shares of NRG Energy by 422.2% during the second quarter. ORG Partners LLC now owns 282 shares of the utilities provider's stock worth $44,000 after acquiring an additional 228 shares during the period. Institutional investors and hedge funds own 97.72% of the company's stock.

NRG Energy Stock Performance

NYSE:NRG opened at $169.22 on Friday. The firm has a market capitalization of $32.73 billion, a PE ratio of 76.57, a price-to-earnings-growth ratio of 1.35 and a beta of 1.14. The business's fifty day moving average price is $158.08 and its 200 day moving average price is $145.82. The company has a debt-to-equity ratio of 5.99, a current ratio of 0.93 and a quick ratio of 0.88. NRG Energy, Inc. has a 12 month low of $79.57 and a 12 month high of $175.96.

NRG Energy (NYSE:NRG - Get Free Report) last posted its earnings results on Wednesday, August 6th. The utilities provider reported $1.68 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.04). The business had revenue of $6.74 billion during the quarter, compared to analysts' expectations 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 period last year, the company earned $3.37 EPS. On average, sell-side analysts anticipate that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, August 1st. NRG Energy's dividend payout ratio is currently 79.64%.

Insider Transactions at NRG Energy

In other NRG Energy news, VP Dak Liyanearachchi sold 10,672 shares of the company's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $155.00, for a total value of $1,654,160.00. Following the completion of the transaction, the vice president owned 48,571 shares in the company, valued at $7,528,505. This represents a 18.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.86% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NRG shares. BMO Capital Markets upped their price objective on NRG Energy from $167.00 to $185.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 6th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of NRG Energy in a research report on Wednesday, October 8th. Melius started coverage on NRG Energy in a research report on Wednesday, August 20th. They set a "buy" rating and a $308.00 price objective on the stock. Scotiabank started coverage on NRG Energy in a research report on Monday, September 22nd. They set a "sector outperform" rating and a $212.00 price objective on the stock. Finally, Wall Street Zen lowered NRG Energy from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, NRG Energy currently has an average rating of "Moderate Buy" and a consensus target price of $188.85.

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.

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