FCG Investment Co Sells 5,360 Shares of NRG Energy, Inc. $NRG

Key Points

• FCG Investment Co reduced its holdings in NRG Energy, Inc. by 27.8%, selling 5,360 shares, leaving them with 13,912 shares valued at approximately $2.23 million.
• Analyst coverage for NRG Energy has been generally positive, with multiple firms issuing buy ratings and price targets ranging from $185.00 to $308.00.
• NRG Energy has recently announced a quarterly dividend of $0.44 per share, resulting in an annualized yield of 1.1%.

FCG Investment Co cut its holdings in NRG Energy, Inc. (NYSE:NRG - Free Report) by 27.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,912 shares of the utilities provider's stock after selling 5,360 shares during the period. NRG Energy comprises approximately 1.2% of FCG Investment Co's portfolio, making the stock its 19th biggest holding. FCG Investment Co's holdings in NRG Energy were worth $2,234,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Five Oceans Advisors purchased a new position in NRG Energy in the second quarter worth $206,000. CX Institutional increased its position in shares of NRG Energy by 20.8% during the 2nd quarter. CX Institutional now owns 2,083 shares of the utilities provider's stock valued at $335,000 after purchasing an additional 359 shares during the last quarter. Meyer Handelman Co. raised its stake in shares of NRG Energy by 4.5% during the 2nd quarter. Meyer Handelman Co. now owns 98,226 shares of the utilities provider's stock worth $15,773,000 after purchasing an additional 4,249 shares during the period. Cadent Capital Advisors LLC bought a new position in NRG Energy during the second quarter valued at about $251,000. Finally, Affinity Wealth Management LLC increased its holdings in NRG Energy by 0.8% during the second quarter. Affinity Wealth Management LLC now owns 43,528 shares of the utilities provider's stock worth $6,990,000 after buying an additional 327 shares during the last quarter. 97.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NRG. Raymond James Financial initiated coverage on shares of NRG Energy in a research note on Friday, June 13th. They issued a "strong-buy" rating and a $195.00 target price on the stock. Melius Research began coverage on NRG Energy in a report on Wednesday, August 20th. They set a "buy" rating and a $308.00 price objective for the company. Melius initiated coverage on NRG Energy in a research note on Wednesday, August 20th. They issued a "buy" rating and a $308.00 target price on the stock. Citigroup upped their price target on NRG Energy from $133.00 to $185.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Finally, Scotiabank assumed coverage on NRG Energy in a report on Monday. They issued a "sector outperform" rating and a $212.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, NRG Energy has an average rating of "Moderate Buy" and an average price target of $188.85.

Insider Buying and Selling

In other news, VP Dak Liyanearachchi sold 10,672 shares of the business's stock in a transaction on 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 completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.86% of the stock is currently owned by insiders.

NRG Energy Price Performance

NRG Energy stock opened at $163.01 on Friday. The firm has a market capitalization of $31.53 billion, a P/E ratio of 73.76, a PEG ratio of 1.36 and a beta of 1.17. NRG Energy, Inc. has a one year low of $79.57 and a one year high of $175.96. The company has a debt-to-equity ratio of 5.99, a current ratio of 0.93 and a quick ratio of 0.88. The business has a fifty day moving average price of $155.98 and a 200-day moving average price of $137.83.

NRG Energy (NYSE:NRG - Get Free Report) last issued its quarterly earnings data 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). NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.The company had revenue of $6.74 billion for the quarter, compared to analysts' expectations of $6.63 billion. During the same period last year, the company posted $3.37 EPS. The business's revenue for the quarter was up 1.2% on a year-over-year basis. As a group, equities research analysts forecast that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid a $0.44 dividend. The ex-dividend date was Friday, August 1st. This represents a $1.76 annualized dividend and a yield of 1.1%. NRG Energy's dividend payout ratio is currently 79.64%.

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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