Hsbc Holdings PLC Has $40.09 Million Stock Holdings in NRG Energy, Inc. $NRG

Key Points

• Hsbc Holdings PLC reduced its stake in NRG Energy by 1.5%, now owning approximately $40.1 million worth of shares.
• NRG Energy reported earnings per share of $1.68 for the last quarter, falling short of analyst expectations by $0.04.
• The company declared a quarterly dividend of $0.44, reflecting an annual yield of 1.2% with a payout ratio of 79.64%.

Hsbc Holdings PLC lessened its stake in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 1.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 420,757 shares of the utilities provider's stock after selling 6,522 shares during the period. Hsbc Holdings PLC owned 0.21% of NRG Energy worth $40,092,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in NRG. Zions Bancorporation National Association UT bought a new position in NRG Energy during the 1st quarter worth $28,000. Key Financial Inc bought a new position in NRG Energy during the 1st quarter worth $30,000. Evermay Wealth Management LLC bought a new position in NRG Energy during the 1st quarter worth $36,000. Park Square Financial Group LLC acquired a new stake in shares of NRG Energy in the 4th quarter valued at $53,000. Finally, UMB Bank n.a. boosted its holdings in shares of NRG Energy by 44.0% in the 1st quarter. UMB Bank n.a. now owns 655 shares of the utilities provider's stock valued at $63,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 97.72% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Melius Research assumed coverage on NRG Energy in a research note on Wednesday, August 20th. They issued a "buy" rating and a $308.00 price objective on the stock. Melius assumed coverage on shares of NRG Energy in a report on Wednesday, August 20th. They issued a "buy" rating and a $308.00 target price for the company. Wall Street Zen cut shares of NRG Energy from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. BMO Capital Markets increased their target price on shares of NRG Energy from $167.00 to $185.00 and gave the stock a "market perform" rating in a report on Wednesday, August 6th. Finally, Guggenheim increased their target price on shares of NRG Energy from $138.00 to $173.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $186.92.

NRG Energy Price Performance

NRG traded up $2.06 on Wednesday, reaching $148.29. The stock had a trading volume of 1,040,490 shares, compared to its average volume of 3,177,980. NRG Energy, Inc. has a fifty-two week low of $76.13 and a fifty-two week high of $175.96. The firm has a 50-day moving average of $154.63 and a 200-day moving average of $129.89. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 5.99. The company has a market capitalization of $28.68 billion, a price-to-earnings ratio of 66.98, a price-to-earnings-growth ratio of 1.18 and a beta of 1.14.

NRG Energy (NYSE:NRG - Get Free Report) last issued its earnings results 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 firm had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.63 billion. During the same period in the previous year, the company earned $3.37 EPS. NRG Energy's revenue for the quarter was up 1.2% on a year-over-year basis. As a group, sell-side analysts anticipate 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 issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 1st. NRG Energy's dividend payout ratio is presently 79.64%.

Insider Transactions at NRG Energy

In other news, Director Kevin Howell sold 50,000 shares of the stock in a transaction dated 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 sale, the director owned 55,427 shares of the company's stock, valued at approximately $8,563,471.50. This represents a 47.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.61% of the stock is currently owned by 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.