New York State Teachers Retirement System Cuts Stake in NRG Energy, Inc. $NRG

Key Points

• New York State Teachers Retirement System trimmed its NRG stake by 3.6%, selling 6,851 shares and now holds 184,726 shares worth about $29.4M.
• NRG reported mixed quarterly results, missing EPS estimates at $1.04 (vs. $1.19 expected) while posting revenue of $7.75B, up 13.7% year-over-year.
• Analysts are largely positive with an average price target near $197.57 versus a recent share price around $153, and the company declared a quarterly dividend of $0.475 (1.2% yield, ex-dividend May 1).

New York State Teachers Retirement System reduced its stake in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 3.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 184,726 shares of the utilities provider's stock after selling 6,851 shares during the period. New York State Teachers Retirement System owned 0.10% of NRG Energy worth $29,416,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of NRG. Jennison Associates LLC raised its holdings in NRG Energy by 1.1% in the fourth quarter. Jennison Associates LLC now owns 510,565 shares of the utilities provider's stock valued at $81,302,000 after buying an additional 5,436 shares during the period. Wealth High Governance Capital Ltda raised its holdings in NRG Energy by 103.4% in the fourth quarter. Wealth High Governance Capital Ltda now owns 244,105 shares of the utilities provider's stock valued at $38,871,000 after buying an additional 124,105 shares during the period. Keybank National Association OH raised its holdings in NRG Energy by 4.4% in the fourth quarter. Keybank National Association OH now owns 2,141 shares of the utilities provider's stock valued at $341,000 after buying an additional 91 shares during the period. Caldwell Trust Co raised its holdings in NRG Energy by 7.5% in the fourth quarter. Caldwell Trust Co now owns 1,720 shares of the utilities provider's stock valued at $274,000 after buying an additional 120 shares during the period. Finally, Wealthfront Advisers LLC raised its holdings in NRG Energy by 4.1% in the fourth quarter. Wealthfront Advisers LLC now owns 7,571 shares of the utilities provider's stock valued at $1,206,000 after buying an additional 301 shares during the period. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of NRG Energy in a report on Friday, March 6th. They issued a "buy" rating and a $197.00 price target on the stock. BNP Paribas Exane assumed coverage on shares of NRG Energy in a report on Wednesday, March 18th. They issued an "outperform" rating and a $232.00 price target on the stock. Wells Fargo & Company raised their price target on shares of NRG Energy from $202.00 to $206.00 and gave the company an "overweight" rating in a report on Tuesday, January 20th. Zacks Research upgraded shares of NRG Energy from a "strong sell" rating to a "hold" rating in a research note on Monday, February 23rd. Finally, Jefferies Financial Group dropped their price objective on shares of NRG Energy from $198.00 to $181.00 and set a "buy" rating on the stock in a research note on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $197.57.

NRG Energy Stock Down 1.5%

NRG stock opened at $153.24 on Friday. NRG Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $189.96. The company has a current ratio of 1.64, a quick ratio of 1.58 and a debt-to-equity ratio of 15.92. The company has a market capitalization of $32.88 billion, a P/E ratio of 38.89 and a beta of 1.32. The firm has a 50 day simple moving average of $159.13 and a 200-day simple moving average of $160.77.

NRG Energy (NYSE:NRG - Get Free Report) last released its quarterly earnings results on Tuesday, February 24th. The utilities provider reported $1.04 earnings per share for the quarter, missing analysts' consensus estimates of $1.19 by ($0.15). NRG Energy had a return on equity of 109.48% and a net margin of 2.81%.The company had revenue of $7.75 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same period in the previous year, the business posted $1.56 EPS. The firm's quarterly revenue was up 13.7% compared to the same quarter last year. On average, equities research analysts predict that NRG Energy, Inc. will post 8.98 earnings per share for the current fiscal year.

NRG Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be given a dividend of $0.475 per share. The ex-dividend date of this dividend is Friday, May 1st. This represents a $1.90 dividend on an annualized basis and a dividend yield of 1.2%. NRG Energy's dividend payout ratio (DPR) is presently 48.22%.

Insider Buying and Selling

In other NRG Energy news, VP Virginia Kinney sold 5,000 shares of NRG Energy stock in a transaction on Monday, March 16th. The shares were sold at an average price of $156.65, for a total value of $783,250.00. Following the completion of the transaction, the vice president owned 55,495 shares of the company's stock, valued at $8,693,291.75. The trade was a 8.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.43% of the stock is currently owned by corporate insiders.

NRG Energy Company Profile

NRG Energy NYSE: NRG is a U.S.-based integrated power company headquartered in Houston, Texas. The company develops, owns and operates a diversified portfolio of power generation assets and participates in wholesale and retail energy markets. NRG supplies electricity to utilities, commercial and industrial customers, and retail consumers, while also providing energy-related products and services designed to manage consumption and support reliability.

NRG's generation mix includes conventional thermal plants as well as renewable and distributed energy resources.

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