NRG Energy, Inc. $NRG Stock Position Trimmed by Quarry LP

Key Points

• Quarry LP has reduced its stake in NRG Energy, Inc. by 38.3%, now holding 24,285 shares after selling 15,095 shares in the 1st quarter.
• Several hedge funds have initiated positions in NRG Energy during the 1st quarter, indicating growing interest in the stock, which is currently more than 97% owned by institutional investors.
• Analysts have set a consensus target price of $186.92 for NRG Energy, with multiple ratings suggesting a strong buy or buy position for the stock.

Quarry LP cut its position in NRG Energy, Inc. (NYSE:NRG - Free Report) by 38.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,285 shares of the utilities provider's stock after selling 15,095 shares during the quarter. NRG Energy comprises 0.5% of Quarry LP's holdings, making the stock its 28th biggest position. Quarry LP's holdings in NRG Energy were worth $2,318,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Zions Bancorporation National Association UT bought a new stake in NRG Energy in the 1st quarter valued at about $28,000. Key Financial Inc bought a new stake in NRG Energy in the 1st quarter valued at about $30,000. Evermay Wealth Management LLC bought a new stake in NRG Energy in the 1st quarter valued at about $36,000. Park Square Financial Group LLC bought a new stake in NRG Energy in the 4th quarter valued at about $53,000. Finally, UMB Bank n.a. raised its position in shares of NRG Energy by 44.0% during the 1st quarter. UMB Bank n.a. now owns 655 shares of the utilities provider's stock worth $63,000 after buying an additional 200 shares in the last quarter. 97.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NRG shares. Melius started coverage on shares of NRG Energy in a research report on Wednesday, August 20th. They set a "buy" rating and a $308.00 price target on the stock. Guggenheim boosted their price target 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. Jefferies Financial Group boosted their price target on shares of NRG Energy from $113.00 to $132.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Raymond James Financial started coverage on shares of NRG Energy in a research report on Friday, June 13th. They set a "strong-buy" rating and a $195.00 price target on the stock. Finally, 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 note on Wednesday, August 6th. 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 stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $186.92.

NRG Energy Stock Performance

Shares of NRG opened at $145.52 on Friday. The firm's 50 day moving average is $154.35 and its 200-day moving average is $130.79. The stock has a market capitalization of $28.15 billion, a P/E ratio of 65.84, a P/E/G ratio of 1.19 and a beta of 1.14. 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 12-month low of $76.13 and a 12-month high of $175.96.

NRG Energy (NYSE:NRG - Get Free Report) last announced 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). The business had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.63 billion. NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.The business's revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $3.37 EPS. Equities research analysts anticipate 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. Stockholders of record on Friday, August 1st were given 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 dividend payout ratio (DPR) is 79.64%.

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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