NRG Energy, Inc. $NRG Shares Sold by Belpointe Asset Management LLC

Key Points

• Belpointe Asset Management LLC reduced its stake in NRG Energy by 39.9%, selling 2,520 shares and leaving them with 3,792 shares valued at approximately $609,000.
• NRG Energy reported $1.68 earnings per share for the quarter, falling short of the consensus estimate of $1.72, while revenue reached $6.74 billion, exceeding estimates.
• The company recently declared a $0.44 quarterly dividend, with an annualized dividend yield of 1.0% and a payout ratio of 79.64%.

Belpointe Asset Management LLC cut its holdings in NRG Energy, Inc. (NYSE:NRG - Free Report) by 39.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,792 shares of the utilities provider's stock after selling 2,520 shares during the period. Belpointe Asset Management LLC's holdings in NRG Energy were worth $609,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Donald L. Hagan LLC boosted its stake in shares of NRG Energy by 2.0% during the 2nd quarter. Donald L. Hagan LLC now owns 3,384 shares of the utilities provider's stock worth $543,000 after acquiring an additional 66 shares in the last quarter. Horizon Investments LLC boosted its stake in shares of NRG Energy by 3.0% during the 1st quarter. Horizon Investments LLC now owns 2,908 shares of the utilities provider's stock worth $276,000 after acquiring an additional 86 shares in the last quarter. Mather Group LLC. boosted its stake in shares of NRG Energy by 12.1% during the 1st quarter. Mather Group LLC. now owns 900 shares of the utilities provider's stock worth $86,000 after acquiring an additional 97 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake in shares of NRG Energy by 13.0% during the 1st quarter. Cullen Frost Bankers Inc. now owns 904 shares of the utilities provider's stock worth $86,000 after acquiring an additional 104 shares in the last quarter. Finally, Private Trust Co. NA boosted its stake in shares of NRG Energy by 8.7% during the 1st quarter. Private Trust Co. NA now owns 1,482 shares of the utilities provider's stock worth $141,000 after acquiring an additional 119 shares in the last quarter. 97.72% of the stock is currently owned by institutional investors and hedge funds.

NRG Energy Trading Up 0.4%

Shares of NRG Energy stock opened at $168.11 on Friday. The company has a debt-to-equity ratio of 5.99, a current ratio of 0.93 and a quick ratio of 0.88. NRG Energy, Inc. has a 1 year low of $79.57 and a 1 year high of $175.96. The company has a market capitalization of $32.52 billion, a P/E ratio of 76.07, a P/E/G ratio of 1.35 and a beta of 1.14. The business has a 50 day moving average price of $157.35 and a 200 day moving average price of $142.62.

NRG Energy (NYSE:NRG - Get Free Report) last issued 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 analyst estimates of $6.63 billion. NRG Energy had a net margin of 1.78% and a return on equity of 88.22%. The company's revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $3.37 earnings per share. Sell-side analysts anticipate that NRG Energy, Inc. will post 6.36 EPS for the current fiscal year.

NRG Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were issued a $0.44 dividend. The ex-dividend date was Friday, August 1st. This represents a $1.76 annualized dividend and a yield of 1.0%. NRG Energy's payout ratio is 79.64%.

Analyst Ratings Changes

NRG has been the topic of several research analyst reports. Melius initiated coverage on NRG Energy in a research note on Wednesday, August 20th. They set a "buy" rating and a $308.00 price target on the stock. BMO Capital Markets boosted 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. Wall Street Zen lowered NRG Energy from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Weiss Ratings restated a "hold (c)" rating on shares of NRG Energy in a research report on Wednesday. Finally, Raymond James Financial assumed coverage on NRG Energy in a research report on Friday, June 13th. They set a "strong-buy" rating and a $195.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $188.85.

Insiders Place Their Bets

In other NRG Energy news, VP Dak Liyanearachchi sold 10,672 shares of the business's stock in a transaction on 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 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 is accessible through this link. Company insiders own 0.86% of the company's stock.

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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