NRG Energy, Inc. (NYSE:NRG) Stake Lowered by Lyrical Asset Management LP

Key Points

• Lyrical Asset Management LP has reduced its stake in NRG Energy by 1.9%, now owning approximately 1.75% of the company, valued at $340.6 million.
• Several hedge funds, including Envestnet Asset Management with a 99.2% increase in their stake, have adjusted their positions in NRG Energy, highlighting increased institutional investor interest.
• NRG Energy announced a quarterly dividend of $0.44 per share, with an upcoming payout date of August 15th, reflecting a yield of 1.1% and a payout ratio of 79.64%.

Lyrical Asset Management LP lowered its holdings in NRG Energy, Inc. (NYSE:NRG - Free Report) by 1.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 3,568,181 shares of the utilities provider's stock after selling 69,380 shares during the quarter. NRG Energy comprises 5.2% of Lyrical Asset Management LP's investment portfolio, making the stock its 3rd biggest holding. Lyrical Asset Management LP owned about 1.75% of NRG Energy worth $340,619,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. GW&K Investment Management LLC grew its stake in NRG Energy by 23.8% during the 1st quarter. GW&K Investment Management LLC now owns 672 shares of the utilities provider's stock worth $64,000 after buying an additional 129 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in NRG Energy by 99.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 413,911 shares of the utilities provider's stock worth $39,512,000 after buying an additional 206,096 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in NRG Energy by 54.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 6,215 shares of the utilities provider's stock worth $593,000 after buying an additional 2,190 shares during the last quarter. State of Alaska Department of Revenue grew its stake in NRG Energy by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 23,728 shares of the utilities provider's stock worth $2,265,000 after buying an additional 630 shares during the last quarter. Finally, Graham Capital Management L.P. purchased a new position in NRG Energy during the 4th quarter worth approximately $276,000. Hedge funds and other institutional investors own 97.72% of the company's stock.

Wall Street Analysts Forecast Growth

NRG has been the subject of a number of recent research reports. Guggenheim increased their price objective on NRG Energy from $138.00 to $173.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Barclays increased their price objective on 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 increased their price objective on NRG Energy from $167.00 to $185.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 6th. 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 report on Monday, May 5th. Finally, Raymond James Financial initiated coverage on NRG Energy in a research report on Friday, June 13th. They set a "strong-buy" rating and a $195.00 price objective for the company. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $162.70.

Insider Transactions at NRG Energy

In related news, Director Kevin Howell sold 50,000 shares of NRG Energy stock in a transaction on Friday, May 30th. The stock was sold at an average price of $154.50, for a total transaction of $7,725,000.00. Following the completion of the transaction, the director directly owned 55,427 shares of the company's stock, valued at approximately $8,563,471.50. The trade was a 47.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.86% of the company's stock.

NRG Energy Trading Down 1.1%

NYSE:NRG opened at $155.02 on Thursday. The stock has a fifty day moving average price of $155.48 and a two-hundred day moving average price of $126.85. The stock has a market capitalization of $29.99 billion, a price-to-earnings ratio of 70.14, a PEG ratio of 1.32 and a beta of 1.14. 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, Inc. has a 1 year low of $76.13 and a 1 year high of $175.96.

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). The business had revenue of $6.74 billion during the quarter, compared to analysts' expectations of $6.63 billion. NRG Energy had a return on equity of 88.22% and a net margin of 1.78%. The company's revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.37 EPS. As a group, sell-side analysts anticipate that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, August 1st. This represents a $1.76 annualized dividend and a yield of 1.1%. NRG Energy's payout ratio 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.

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