Brendel Financial Advisors LLC Lowers Position in NRG Energy, Inc. $NRG

Key Points

• Brendel Financial Advisors LLC reduced its stake in NRG Energy by 23.4% in Q2, selling 5,210 shares, leaving them with a total of 17,066 shares valued at $2.74 million.
• NRG Energy reported earnings per share (EPS) of $1.68 for the last quarter, which fell short of analysts' expectations of $1.72, despite a revenue increase to $6.74 billion.
• The firm declared a quarterly dividend of $0.44 per share, yielding an annualized rate of 1.1%, with a payout ratio of approximately 79.64%.

Brendel Financial Advisors LLC reduced its position in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 23.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,066 shares of the utilities provider's stock after selling 5,210 shares during the period. Brendel Financial Advisors LLC's holdings in NRG Energy were worth $2,740,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Zions Bancorporation National Association UT acquired a new stake in NRG Energy in the first quarter valued at about $28,000. Key Financial Inc acquired a new stake in shares of NRG Energy in the 1st quarter valued at approximately $30,000. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of NRG Energy during the 2nd quarter valued at approximately $58,000. Evermay Wealth Management LLC bought a new position in NRG Energy in the 1st quarter valued at approximately $36,000. Finally, Park Square Financial Group LLC acquired a new stake in NRG Energy in the fourth quarter valued at approximately $53,000. Institutional investors own 97.72% of the company's stock.

NRG Energy Trading Down 0.2%

Shares of NRG Energy stock traded down $0.32 on Friday, reaching $163.87. 4,195,804 shares of the company's stock were exchanged, compared to its average volume of 2,007,153. The company has a market capitalization of $31.70 billion, a P/E ratio of 74.15, a price-to-earnings-growth ratio of 1.35 and a beta of 1.17. NRG Energy, Inc. has a 52 week low of $79.57 and a 52 week high of $175.96. The firm's 50-day moving average is $154.44 and its two-hundred day moving average is $135.99. The company has a debt-to-equity ratio of 5.99, a quick ratio of 0.88 and a current ratio of 0.93.

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 analysts' consensus estimates of $1.72 by ($0.04). NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.The business had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.63 billion. During the same quarter in the previous year, the company posted $3.37 earnings per share. NRG Energy's quarterly revenue was up 1.2% on a year-over-year basis. Sell-side analysts predict that NRG Energy, Inc. will post 6.36 EPS for the current fiscal year.

NRG Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, August 1st. NRG Energy's dividend payout ratio (DPR) is currently 79.64%.

Wall Street Analyst Weigh In

NRG has been the topic of a number of research reports. Barclays boosted their target price on shares of NRG Energy from $197.00 to $203.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Melius initiated coverage on shares of NRG Energy in a research note on Wednesday, August 20th. They set a "buy" rating and a $308.00 target price on the stock. BMO Capital Markets upped their price target on shares of NRG Energy from $167.00 to $185.00 and gave the company a "market perform" rating in a research report on Wednesday, August 6th. Wall Street Zen lowered shares of NRG Energy from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Melius Research started coverage on NRG Energy in a research report on Wednesday, August 20th. They set a "buy" rating and a $308.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $186.92.

Insider Activity

In other NRG Energy news, VP Dak Liyanearachchi sold 10,672 shares of the business's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $155.00, for a total transaction of $1,654,160.00. Following the completion of the sale, the vice president directly owned 48,571 shares of the company's stock, valued at approximately $7,528,505. The trade was a 18.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.86% of the stock is currently owned by corporate insiders.

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.