Mizuho Markets Americas LLC Cuts Stake in NRG Energy, Inc. (NYSE:NRG)

Key Points

• Mizuho Markets Americas LLC reduced its stake in NRG Energy, Inc. by 6.8%, holding 48,076 shares worth approximately $4.59 million after selling 3,508 shares.
• Hedge funds collectively own 97.72% of NRG Energy’s stock, with Brighton Jones LLC and Envestnet Asset Management Inc. increasing their holdings significantly in the last quarter.
• NRG Energy announced a quarterly dividend of $0.44 per share, set to be paid on August 15th, reflecting an annual yield of 1.2%.

Mizuho Markets Americas LLC decreased its holdings in NRG Energy, Inc. (NYSE:NRG - Free Report) by 6.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 48,076 shares of the utilities provider's stock after selling 3,508 shares during the period. Mizuho Markets Americas LLC's holdings in NRG Energy were worth $4,589,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of NRG. Brighton Jones LLC raised its holdings in NRG Energy by 41.8% in the fourth quarter. Brighton Jones LLC now owns 5,187 shares of the utilities provider's stock valued at $468,000 after buying an additional 1,528 shares during the period. Envestnet Asset Management Inc. raised its holdings in NRG Energy by 25.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 207,815 shares of the utilities provider's stock valued at $18,749,000 after buying an additional 42,570 shares during the period. Cerity Partners LLC raised its holdings in NRG Energy by 4.8% in the fourth quarter. Cerity Partners LLC now owns 27,677 shares of the utilities provider's stock valued at $2,513,000 after buying an additional 1,279 shares during the period. FIL Ltd purchased a new position in NRG Energy in the fourth quarter valued at approximately $20,167,000. Finally, Bank of Nova Scotia raised its holdings in NRG Energy by 2.8% in the fourth quarter. Bank of Nova Scotia now owns 22,698 shares of the utilities provider's stock valued at $2,048,000 after buying an additional 623 shares during the period. Hedge funds and other institutional investors own 97.72% of the company's stock.

Insider Transactions at NRG Energy

In related news, Director Kevin Howell sold 50,000 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $154.50, for a total transaction of $7,725,000.00. Following the transaction, the director directly owned 55,427 shares in the company, valued at $8,563,471.50. This trade represents a 47.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.86% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

NRG has been the topic of several research reports. Barclays raised their price target on shares of NRG Energy from $197.00 to $203.00 and gave the company an "overweight" rating in a report on Thursday. Guggenheim increased their price objective on shares of NRG Energy from $138.00 to $173.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Wells Fargo & Company increased their price objective on shares of NRG Energy from $165.00 to $200.00 and gave the company an "overweight" rating in a research report on Tuesday, May 13th. Raymond James Financial started coverage on shares of NRG Energy in a research report on Friday, June 13th. They issued a "strong-buy" rating and a $195.00 price objective for the company. Finally, BMO Capital Markets increased their price objective on shares of NRG Energy from $167.00 to $185.00 and gave the company a "market perform" rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, NRG Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $162.70.

NRG Energy Stock Down 0.3%

NRG stock opened at $152.72 on Friday. NRG Energy, Inc. has a twelve month low of $76.13 and a twelve month high of $175.96. The company has a current ratio of 0.93, a quick ratio of 1.02 and a debt-to-equity ratio of 5.99. The company has a market capitalization of $29.54 billion, a P/E ratio of 69.10, a PEG ratio of 1.27 and a beta of 1.14. The firm has a 50 day simple moving average of $155.73 and a 200-day simple moving average of $125.95.

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 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 company had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.63 billion. During the same period in the previous year, the business posted $3.37 EPS. The firm's quarterly revenue was up 1.2% compared to the same quarter last year. On average, equities research analysts predict that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be paid a dividend of $0.44 per share. The ex-dividend date is Friday, August 1st. This represents a $1.76 annualized dividend and a yield of 1.2%. NRG Energy's dividend payout ratio (DPR) is 79.64%.

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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