Korea Investment CORP Sells 5,909 Shares of NRG Energy, Inc. $NRG

Key Points

• Korea Investment CORP reduced its stake in NRG Energy, Inc. by 2.3%, owning 245,812 shares worth approximately $23.5 million after selling 5,909 shares in the first quarter.
• Goldman Sachs Group Inc. dramatically increased its position in NRG Energy by 468.4%, now owning around 4.76 million shares valued at $454.2 million.
• NRG Energy reported a quarterly earnings miss at $1.68 EPS, below the analyst expectation of $1.72, despite a revenue increase of 1.2% year-over-year.

Korea Investment CORP reduced its stake in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 2.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 245,812 shares of the utilities provider's stock after selling 5,909 shares during the quarter. Korea Investment CORP owned 0.12% of NRG Energy worth $23,465,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Qtron Investments LLC raised its stake in NRG Energy by 26.1% during the first quarter. Qtron Investments LLC now owns 5,971 shares of the utilities provider's stock worth $570,000 after acquiring an additional 1,235 shares in the last quarter. Brooklyn Investment Group raised its stake in NRG Energy by 101.4% during the first quarter. Brooklyn Investment Group now owns 1,116 shares of the utilities provider's stock worth $106,000 after acquiring an additional 562 shares in the last quarter. FCG Investment Co raised its stake in NRG Energy by 54.2% during the first quarter. FCG Investment Co now owns 19,272 shares of the utilities provider's stock worth $1,840,000 after acquiring an additional 6,771 shares in the last quarter. Roberts Capital Advisors LLC acquired a new position in NRG Energy during the first quarter worth $544,000. Finally, Raymond James Financial Inc. raised its stake in NRG Energy by 0.4% during the first quarter. Raymond James Financial Inc. now owns 686,608 shares of the utilities provider's stock worth $65,544,000 after acquiring an additional 2,956 shares in the last quarter. 97.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Jefferies Financial Group increased their price objective on NRG Energy from $113.00 to $132.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Citigroup increased their target price on NRG Energy from $133.00 to $185.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Melius Research assumed coverage on NRG Energy in a report on Wednesday, August 20th. They set a "buy" rating and a $308.00 target price on the stock. Barclays increased their target price on NRG Energy from $197.00 to $203.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Finally, Wall Street Zen cut NRG Energy from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $186.92.

Insider Transactions at NRG Energy

In related news, Director Kevin Howell sold 50,000 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $154.50, for a total value of $7,725,000.00. Following the transaction, the director 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is currently owned by corporate insiders.

NRG Energy Trading Up 0.1%

NRG Energy stock traded up $0.1720 during mid-day trading on Monday, hitting $145.2620. The stock had a trading volume of 844,567 shares, compared to its average volume of 3,190,329. The stock has a 50-day simple moving average of $154.93 and a two-hundred day simple moving average of $129.48. The stock has a market capitalization of $28.10 billion, a PE ratio of 65.75, a P/E/G ratio of 1.18 and a beta of 1.14. NRG Energy, Inc. has a 12 month low of $76.13 and a 12 month high of $175.96. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 5.99.

NRG Energy (NYSE:NRG - Get Free Report) last posted its quarterly earnings results 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). The firm had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.63 billion. NRG Energy had a net margin of 1.78% and a return on equity of 88.22%. NRG Energy's revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.37 EPS. As a group, sell-side analysts forecast that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors 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 1.2%. NRG Energy's dividend payout ratio (DPR) is currently 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.