Hourglass Capital LLC Cuts Stake in NRG Energy, Inc. $NRG

Key Points

• Hourglass Capital LLC reduced its stake in NRG Energy by 39.4% in Q2, holding 38,820 shares worth approximately $6.23 million, making it the fund's 24th largest holding.
• Multiple institutional investors have recently increased their holdings in NRG Energy, including Envestnet Asset Management, which raised its stake by 99.2% in Q1.
• NRG Energy's stock has seen growth, with analysts revising price targets upwards, forecasting a consensus rating of "Moderate Buy" and a target price of $188.85.

Hourglass Capital LLC cut its position in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 39.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,820 shares of the utilities provider's stock after selling 25,280 shares during the period. NRG Energy makes up about 1.5% of Hourglass Capital LLC's portfolio, making the stock its 24th biggest holding. Hourglass Capital LLC's holdings in NRG Energy were worth $6,234,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. GW&K Investment Management LLC lifted its stake in shares of NRG Energy by 23.8% in the 1st quarter. GW&K Investment Management LLC now owns 672 shares of the utilities provider's stock valued at $64,000 after purchasing an additional 129 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of NRG Energy by 99.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 413,911 shares of the utilities provider's stock valued at $39,512,000 after purchasing an additional 206,096 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of NRG Energy by 54.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 6,215 shares of the utilities provider's stock valued at $593,000 after purchasing an additional 2,190 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of NRG Energy by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 23,728 shares of the utilities provider's stock valued at $2,265,000 after purchasing an additional 630 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in shares of NRG Energy by 28.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 16,815 shares of the utilities provider's stock worth $1,605,000 after acquiring an additional 3,721 shares during the last quarter. 97.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NRG has been the subject of a number of research analyst reports. 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. Melius began coverage on NRG Energy in a report on Wednesday, August 20th. They set a "buy" rating and a $308.00 price objective on the stock. Barclays raised their price objective on NRG Energy from $197.00 to $203.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Citigroup raised their price objective on NRG Energy from $133.00 to $185.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of NRG Energy in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $188.85.

NRG Energy Stock Up 3.5%

Shares of NRG stock opened at $171.46 on Thursday. NRG Energy, Inc. has a 1-year low of $79.57 and a 1-year high of $175.96. The stock's fifty day moving average price is $157.42 and its 200 day moving average price is $144.53. 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 company has a market cap of $33.17 billion, a price-to-earnings ratio of 77.58, a price-to-earnings-growth ratio of 1.33 and a beta of 1.14.

NRG Energy (NYSE:NRG - Get Free Report) last announced its earnings results on Wednesday, August 6th. The utilities provider reported $1.68 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.04). NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.The business had revenue of $6.74 billion for the quarter, compared to analysts' expectations of $6.63 billion. During the same quarter last year, the firm earned $3.37 earnings per share. The firm's quarterly revenue was up 1.2% compared to the same quarter last year. On average, research analysts expect that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy Announces Dividend

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

Insider Buying and Selling

In other news, VP Dak Liyanearachchi sold 10,672 shares of the business's stock in a transaction dated 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 completion of the transaction, the vice president owned 48,571 shares of the company's stock, valued at $7,528,505. The trade was a 18.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.86% of the stock is currently owned by corporate insiders.

NRG Energy 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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