Forum Financial Management LP Reduces Stock Position in NRG Energy, Inc. (NYSE:NRG)

Forum Financial Management LP lowered its holdings in NRG Energy, Inc. (NYSE:NRG - Free Report) by 38.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,255 shares of the utilities provider's stock after selling 2,043 shares during the period. Forum Financial Management LP's holdings in NRG Energy were worth $311,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Key Financial Inc acquired a new stake in NRG Energy during the 1st quarter valued at $30,000. Mizuho Bank Ltd. acquired a new position in NRG Energy during the 4th quarter valued at about $41,000. CIBC Private Wealth Group LLC boosted its holdings in shares of NRG Energy by 64.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 521 shares of the utilities provider's stock worth $51,000 after buying an additional 205 shares during the period. Park Square Financial Group LLC acquired a new stake in NRG Energy in the fourth quarter valued at approximately $53,000. Finally, Huntington National Bank lifted its stake in shares of NRG Energy by 28.3% in the fourth quarter. Huntington National Bank now owns 662 shares of the utilities provider's stock worth $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.

Insiders Place Their Bets

In other news, Director Kevin Howell sold 50,000 shares of the business's stock in a transaction on Friday, May 30th. The stock was 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 of the company's stock, valued at approximately $8,563,471.50. The trade was a 47.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.86% of the stock is currently owned by company insiders.

NRG Energy Stock Up 3.1%

Shares of NYSE NRG traded up $4.59 during mid-day trading on Friday, hitting $151.97. 3,408,409 shares of the stock traded hands, compared to its average volume of 2,970,347. The company has a debt-to-equity ratio of 4.61, a quick ratio of 1.02 and a current ratio of 1.06. The stock has a fifty day moving average price of $154.57 and a 200-day moving average price of $119.94. NRG Energy, Inc. has a 52 week low of $65.11 and a 52 week high of $168.57. The company has a market cap of $29.71 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 1.21 and a beta of 1.13.

NRG Energy (NYSE:NRG - Get Free Report) last announced its earnings results on Monday, May 12th. The utilities provider reported $2.62 EPS for the quarter, topping analysts' consensus estimates of $0.72 by $1.90. The firm had revenue of $8.59 billion during the quarter, compared to analysts' expectations of $8.28 billion. NRG Energy had a return on equity of 73.78% and a net margin of 4.66%. The company's quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.31 EPS. Research analysts anticipate that NRG Energy, Inc. will post 6.36 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Wall Street Zen raised shares of NRG Energy from a "buy" rating to a "strong-buy" rating in a research report on Friday. The Goldman Sachs Group initiated coverage on shares of NRG Energy in a research note on Friday, April 4th. They issued a "buy" rating and a $129.00 target price for the company. Jefferies Financial Group lifted 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 target price on shares of NRG Energy and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Finally, BMO Capital Markets reiterated a "market perform" rating and issued a $167.00 target price (up from $115.00) on shares of NRG Energy in a report on Wednesday, May 14th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $160.30.

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.