Great Lakes Advisors LLC Sells 5,277 Shares of NRG Energy, Inc. $NRG

Key Points

• Great Lakes Advisors LLC reduced its stake in NRG Energy, Inc. by 3.2%, owning 161,836 shares valued at $15.4 million after selling 5,277 shares.
• Investment firm Goldman Sachs Group Inc. increased its position in NRG Energy by 468.4%, acquiring an additional 6 million shares, raising its holdings to nearly 4.8 million shares worth $454 million.
• Analysts suggest a positive outlook for NRG Energy, with recent price target increases from firms including Barclays and Wells Fargo, while the overall average rating remains a "Moderate Buy."

Great Lakes Advisors LLC cut its holdings in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 3.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 161,836 shares of the utilities provider's stock after selling 5,277 shares during the quarter. Great Lakes Advisors LLC owned 0.08% of NRG Energy worth $15,449,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Aristeia Capital L.L.C. acquired a new stake in NRG Energy during the 1st quarter worth about $393,000. Fred Alger Management LLC boosted its position in NRG Energy by 39.1% during the 1st quarter. Fred Alger Management LLC now owns 1,124,529 shares of the utilities provider's stock worth $107,348,000 after acquiring an additional 316,075 shares during the period. CTC Alternative Strategies Ltd. acquired a new stake in NRG Energy during the 1st quarter worth about $372,000. Ashton Thomas Private Wealth LLC boosted its position in NRG Energy by 40.9% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 10,474 shares of the utilities provider's stock worth $1,000,000 after acquiring an additional 3,042 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in NRG Energy by 538.4% during the 1st quarter. Jones Financial Companies Lllp now owns 11,599 shares of the utilities provider's stock worth $1,107,000 after acquiring an additional 9,782 shares during the period. 97.72% of the stock is currently owned by institutional investors and hedge funds.

NRG Energy Stock Performance

Shares of NRG stock traded up $7.14 during trading on Friday, reaching $165.06. The company had a trading volume of 2,278,123 shares, compared to its average volume of 1,954,335. The firm's 50 day simple moving average is $153.23 and its two-hundred day simple moving average is $134.01. 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 one year low of $77.49 and a one year high of $175.96. The company has a market capitalization of $31.93 billion, a PE ratio of 74.69, a PEG ratio of 1.34 and a beta of 1.17.

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 for the quarter, missing analysts' consensus estimates of $1.72 by ($0.04). NRG Energy had a net margin of 1.78% and a return on equity of 88.22%. The company had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.63 billion. During the same period in the previous year, the business posted $3.37 earnings per share. The firm's revenue was up 1.2% on a year-over-year basis. Sell-side analysts forecast that NRG Energy, Inc. will post 6.36 earnings per share for the current year.

NRG Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 1st. NRG Energy's dividend payout ratio (DPR) is presently 79.64%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Melius Research assumed coverage on NRG Energy in a research report on Wednesday, August 20th. They set a "buy" rating and a $308.00 price objective for the company. Wall Street Zen downgraded NRG Energy from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Barclays raised their price target on NRG Energy from $197.00 to $203.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. BMO Capital Markets raised their price target on NRG Energy from $167.00 to $185.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 6th. Finally, Melius started coverage on NRG Energy in a research note on Wednesday, August 20th. They set a "buy" rating and a $308.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, NRG Energy currently has an average rating of "Moderate Buy" and an average price target of $186.92.

Insider Buying and Selling at NRG Energy

In related news, VP Dak Liyanearachchi sold 10,672 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $155.00, for a total value of $1,654,160.00. Following the transaction, the vice president directly owned 48,571 shares of the company's stock, valued at approximately $7,528,505. This trade represents a 18.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.61% of the company's stock.

About NRG Energy

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.