IFP Advisors Inc Trims Stock Holdings in NRG Energy, Inc. $NRG

Key Points

• IFP Advisors Inc reduced its stake in NRG Energy by 50.2%, ending the quarter with 1,612 shares valued at $259,000.
• NRG Energy reported a quarterly earnings per share of $1.68, missing estimates of $1.72, while revenue increased to $6.74 billion, above the forecast of $6.63 billion.
• Analysts have a consensus rating of Moderate Buy for NRG Energy with an average target price of $188.85, following several upgrades from various firms.

IFP Advisors Inc lowered its position in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 50.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,612 shares of the utilities provider's stock after selling 1,625 shares during the quarter. IFP Advisors Inc's holdings in NRG Energy were worth $259,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Toth Financial Advisory Corp purchased a new position in NRG Energy during the 2nd quarter valued at about $27,000. ORG Partners LLC increased its stake in shares of NRG Energy by 422.2% during the second quarter. ORG Partners LLC now owns 282 shares of the utilities provider's stock valued at $44,000 after purchasing an additional 228 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of NRG Energy during the first quarter valued at approximately $28,000. Key Financial Inc bought a new stake in shares of NRG Energy in the 1st quarter worth approximately $30,000. Finally, SJS Investment Consulting Inc. boosted its position in shares of NRG Energy by 616.3% in the 2nd quarter. SJS Investment Consulting Inc. now owns 351 shares of the utilities provider's stock worth $56,000 after purchasing an additional 302 shares in the last quarter. Institutional investors own 97.72% of the company's stock.

NRG Energy Trading Down 0.9%

NRG Energy stock opened at $169.72 on Friday. NRG Energy, Inc. has a 52-week low of $79.57 and a 52-week high of $175.96. The company has a market cap of $32.83 billion, a P/E ratio of 76.80, a P/E/G ratio of 1.37 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 5.99. The business has a 50-day simple moving average of $157.75 and a two-hundred day simple moving average of $145.04.

NRG Energy (NYSE:NRG - Get Free Report) last released its quarterly 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). The business had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.63 billion. NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.The firm's revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.37 earnings per share. Analysts predict that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders 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 presently 79.64%.

Analyst Ratings Changes

NRG has been the topic of several analyst reports. Barclays boosted their target price on NRG Energy from $197.00 to $203.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Weiss Ratings reiterated a "hold (c)" rating on shares of NRG Energy in a research note on Wednesday, October 8th. Melius assumed coverage on shares of NRG Energy in a research note on Wednesday, August 20th. They set a "buy" rating and a $308.00 price objective for the company. Citigroup upped their target price on shares of NRG Energy from $133.00 to $185.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Finally, Scotiabank initiated coverage on shares of NRG Energy in a research report on Monday, September 22nd. They set a "sector outperform" rating and a $212.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $188.85.

Insider Activity at NRG Energy

In related news, VP Dak Liyanearachchi sold 10,672 shares of the business'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 transaction of $1,654,160.00. Following the completion of the transaction, the vice president directly owned 48,571 shares in the company, valued at approximately $7,528,505. The trade was a 18.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.86% of the stock is owned by company insiders.

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.

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