NRG Energy, Inc. $NRG Shares Sold by Jennison Associates LLC

Key Points

• Jennison Associates LLC cut its NRG Energy stake by 16.6% in Q1, selling 84,726 shares and ending with 425,839 shares valued at about $62.2 million.
• Insider selling also occurred, with VP Virginia Kinney selling 20,000 shares on June 15 in a pre-arranged 10b5-1 plan, reducing her position by about 30.7%.
• NRG reported mixed quarterly results: EPS of $1.48 missed estimates, but revenue of $10.26 billion beat forecasts and rose 19.5% year over year. Analysts remain broadly positive, with a consensus rating of Moderate Buy and an average target price near $199.93.

Jennison Associates LLC decreased its holdings in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 16.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 425,839 shares of the utilities provider's stock after selling 84,726 shares during the quarter. Jennison Associates LLC owned approximately 0.20% of NRG Energy worth $62,232,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NRG. State Street Corp raised its holdings in NRG Energy by 2.2% during the fourth quarter. State Street Corp now owns 10,868,408 shares of the utilities provider's stock worth $1,730,685,000 after purchasing an additional 234,666 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of NRG Energy by 178.1% in the 4th quarter. Victory Capital Management Inc. now owns 7,676,513 shares of the utilities provider's stock valued at $1,222,409,000 after buying an additional 4,916,653 shares during the last quarter. Geode Capital Management LLC grew its position in shares of NRG Energy by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 5,637,726 shares of the utilities provider's stock valued at $910,324,000 after buying an additional 82,162 shares during the last quarter. Invesco Ltd. raised its stake in NRG Energy by 0.6% during the 3rd quarter. Invesco Ltd. now owns 4,880,954 shares of the utilities provider's stock worth $790,471,000 after acquiring an additional 31,238 shares in the last quarter. Finally, Capital World Investors acquired a new stake in NRG Energy during the 4th quarter worth $305,817,000. 97.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Virginia Kinney sold 20,000 shares of the business's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $127.52, for a total value of $2,550,400.00. Following the transaction, the vice president owned 45,111 shares in the company, valued at $5,752,554.72. The trade was a 30.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by corporate insiders.

NRG Energy Stock Up 0.0%

NRG stock opened at $129.12 on Monday. The company has a market cap of $27.24 billion, a price-to-earnings ratio of 151.91 and a beta of 1.21. The company has a fifty day moving average price of $135.32 and a 200 day moving average price of $149.58. The company has a debt-to-equity ratio of 4.68, a current ratio of 0.84 and a quick ratio of 0.78. NRG Energy, Inc. has a 12 month low of $120.11 and a 12 month high of $189.96.

NRG Energy (NYSE:NRG - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.78 by ($0.30). NRG Energy had a return on equity of 70.67% and a net margin of 0.74%.The business had revenue of $10.26 billion for the quarter, compared to analysts' expectations of $8.43 billion. During the same period in the previous year, the business posted $2.68 earnings per share. The company's revenue for the quarter was up 19.5% on a year-over-year basis. NRG Energy has set its FY 2026 guidance at 7.900-9.900 EPS. Sell-side analysts expect that NRG Energy, Inc. will post 8.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on NRG shares. Morgan Stanley set a $165.00 price objective on shares of NRG Energy in a research note on Wednesday, June 24th. Barclays cut their target price on NRG Energy from $203.00 to $200.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 31st. Weiss Ratings raised NRG Energy from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday. Wells Fargo & Company raised their price target on NRG Energy from $203.00 to $209.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Scotiabank reaffirmed an "outperform" rating and set a $226.00 price target on shares of NRG Energy in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $199.93.

NRG Energy 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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