Gabelli Funds LLC Has $6.60 Million Stake in NRG Energy, Inc. $NRG

Key Points

• Gabelli Funds LLC cut its stake in NRG by 15.2% in Q3, selling 7,280 shares and leaving it with 40,767 shares valued at about $6.60 million.
• NRG's latest quarter missed on EPS ($1.04 vs. $1.19 est.) but beat on revenue ($7.75B vs. $6.68B), with revenue up 13.7% year‑over‑year, and the company raised its quarterly dividend to $0.475 ($1.90 annual; 1.2% yield).
• Company insiders sold roughly 172,556 shares (~$27.6M) in the last quarter while institutional ownership is 97.72%, and analysts hold an average "Moderate Buy" rating with a consensus price target of $196.33 versus the current stock price around $155.

Gabelli Funds LLC lowered its stake in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 15.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,767 shares of the utilities provider's stock after selling 7,280 shares during the period. Gabelli Funds LLC's holdings in NRG Energy were worth $6,602,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of NRG. New Wave Wealth Advisors LLC raised its position in shares of NRG Energy by 3.0% in the 3rd quarter. New Wave Wealth Advisors LLC now owns 2,222 shares of the utilities provider's stock valued at $360,000 after acquiring an additional 65 shares during the period. Catalyst Financial Partners LLC increased its stake in NRG Energy by 5.0% in the third quarter. Catalyst Financial Partners LLC now owns 1,410 shares of the utilities provider's stock valued at $228,000 after purchasing an additional 67 shares in the last quarter. Golden State Equity Partners increased its stake in NRG Energy by 4.7% in the third quarter. Golden State Equity Partners now owns 1,589 shares of the utilities provider's stock valued at $257,000 after purchasing an additional 72 shares in the last quarter. Zions Bancorporation National Association UT raised its holdings in NRG Energy by 19.8% in the third quarter. Zions Bancorporation National Association UT now owns 459 shares of the utilities provider's stock worth $74,000 after purchasing an additional 76 shares during the period. Finally, Optivise Advisory Services LLC boosted its position in shares of NRG Energy by 5.1% during the third quarter. Optivise Advisory Services LLC now owns 1,670 shares of the utilities provider's stock worth $270,000 after purchasing an additional 81 shares in the last quarter. 97.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on NRG. Wells Fargo & Company boosted their price target on shares of NRG Energy from $202.00 to $206.00 and gave the company an "overweight" rating in a report on Tuesday, January 20th. UBS Group assumed coverage on NRG Energy in a report on Tuesday, December 9th. They set a "buy" rating and a $211.00 target price on the stock. Zacks Research raised NRG Energy from a "strong sell" rating to a "hold" rating in a research note on Monday, February 23rd. Jefferies Financial Group dropped their price target on NRG Energy from $198.00 to $181.00 and set a "buy" rating on the stock in a research report on Tuesday, January 27th. Finally, Weiss Ratings cut NRG Energy from a "buy (b)" rating to a "hold (c+)" rating in a report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $196.33.

NRG Energy Stock Up 0.7%

Shares of NRG stock opened at $155.44 on Tuesday. NRG Energy, Inc. has a 52-week low of $79.57 and a 52-week high of $189.96. The stock has a market cap of $33.30 billion, a price-to-earnings ratio of 39.45 and a beta of 1.26. The firm's 50-day moving average is $159.73 and its 200-day moving average is $161.69. The company has a debt-to-equity ratio of 15.92, a quick ratio of 1.58 and a current ratio of 1.64.

NRG Energy (NYSE:NRG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 24th. The utilities provider reported $1.04 EPS for the quarter, missing analysts' consensus estimates of $1.19 by ($0.15). The business had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $6.68 billion. NRG Energy had a return on equity of 109.48% and a net margin of 2.81%.The company's revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.56 EPS. Sell-side analysts predict that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 2nd were issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, February 2nd. This is a boost from NRG Energy's previous quarterly dividend of $0.44. NRG Energy's payout ratio is presently 48.22%.

Insider Activity at NRG Energy

In other NRG Energy news, VP Brian Curci sold 46,976 shares of the company's stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $158.84, for a total value of $7,461,667.84. Following the transaction, the vice president directly owned 46,113 shares in the company, valued at $7,324,588.92. The trade was a 50.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Bruce Chung sold 12,383 shares of the stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $156.56, for a total transaction of $1,938,682.48. Following the completion of the transaction, the chief financial officer directly owned 79,147 shares in the company, valued at $12,391,254.32. The trade was a 13.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 172,556 shares of company stock worth $27,550,446. Company insiders own 0.61% of the company's stock.

About NRG Energy

NRG Energy NYSE: NRG is a U.S.-based integrated power company headquartered in Houston, Texas. The company develops, owns and operates a diversified portfolio of power generation assets and participates in wholesale and retail energy markets. NRG supplies electricity to utilities, commercial and industrial customers, and retail consumers, while also providing energy-related products and services designed to manage consumption and support reliability.

NRG's generation mix includes conventional thermal plants as well as renewable and distributed energy resources.

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