Gotham Asset Management LLC Has $28.68 Million Holdings in NRG Energy, Inc. $NRG

Key Points

• Gotham Asset Management LLC reduced its holdings in NRG Energy by 16.2%, selling 58,247 shares during the 1st quarter, leaving it with 300,465 shares.
• NRG Energy experienced an earnings miss for the last quarter, reporting $1.68 earnings per share, which was below the expected $1.72, despite revenue increasing to $6.74 billion.
• Wall Street analysts have a positive outlook on NRG, with several raising their price targets, resulting in an average target price of $186.92 and a consensus rating of "Moderate Buy."

Gotham Asset Management LLC decreased its holdings in NRG Energy, Inc. (NYSE:NRG - Free Report) by 16.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 300,465 shares of the utilities provider's stock after selling 58,247 shares during the quarter. NRG Energy accounts for about 0.2% of Gotham Asset Management LLC's investment portfolio, making the stock its 27th largest position. Gotham Asset Management LLC owned approximately 0.15% of NRG Energy worth $28,682,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Horizon Investments LLC grew its position in NRG Energy by 3.0% in the first quarter. Horizon Investments LLC now owns 2,908 shares of the utilities provider's stock worth $276,000 after buying an additional 86 shares during the last quarter. Mather Group LLC. grew its position in 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 purchasing an additional 97 shares in the last quarter. Cullen Frost Bankers Inc. grew its position in 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 purchasing an additional 104 shares in the last quarter. Private Trust Co. NA grew its position in 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 purchasing an additional 119 shares in the last quarter. Finally, Allworth Financial LP grew its position in NRG Energy by 19.2% during the 1st quarter. Allworth Financial LP now owns 758 shares of the utilities provider's stock worth $72,000 after purchasing an additional 122 shares in the last quarter. Institutional investors and hedge funds own 97.72% of the company's stock.

NRG Energy Stock Up 3.1%

Shares of NRG Energy stock traded up $4.53 on Tuesday, hitting $152.29. 1,754,178 shares of the company traded hands, compared to its average volume of 3,118,612. The company has a 50-day moving average price of $153.07 and a 200 day moving average price of $132.53. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 5.99. NRG Energy, Inc. has a 12-month low of $77.31 and a 12-month high of $175.96. The company has a market cap of $29.46 billion, a PE ratio of 68.91, a PEG ratio of 1.20 and a beta of 1.17.

NRG Energy (NYSE:NRG - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.04). NRG Energy had a net margin of 1.78% and a return on equity of 88.22%. The business 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 firm posted $3.37 EPS. The firm's revenue for the quarter was up 1.2% on a year-over-year basis. Sell-side analysts predict that NRG Energy, Inc. will post 6.36 earnings per share for the current year.

NRG Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, August 1st. NRG Energy's payout ratio is presently 79.64%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Guggenheim lifted their price objective on shares of NRG Energy from $138.00 to $173.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Wells Fargo & Company lifted their price objective on shares of NRG Energy from $165.00 to $200.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 13th. Barclays lifted their price objective on shares of NRG Energy from $197.00 to $203.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. BMO Capital Markets lifted their price objective on shares of NRG Energy from $167.00 to $185.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 6th. Finally, Raymond James Financial began coverage on shares of NRG Energy in a report on Friday, June 13th. They set a "strong-buy" rating and a $195.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $186.92.

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.