Park Avenue Securities LLC Lowers Stock Holdings in NRG Energy, Inc. $NRG

Key Points

• Park Avenue Securities LLC has reduced its stake in NRG Energy, Inc. by 23.8%, selling 2,793 shares during the 2nd quarter, leaving them with 8,960 shares valued at approximately $1.44 million.
• Analysts have mixed views on NRG Energy, with Scotiabank initiating coverage with a "sector outperform" rating and Citigroup raising their price target to $185, while Wall Street Zen downgraded it from "buy" to "hold."
• NRG Energy reported quarterly earnings of $1.68 per share, missing estimates, but revenue of $6.74 billion exceeded expectations; the company also declared a quarterly dividend of $0.44.

Park Avenue Securities LLC lessened its position in NRG Energy, Inc. (NYSE:NRG - Free Report) by 23.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,960 shares of the utilities provider's stock after selling 2,793 shares during the quarter. Park Avenue Securities LLC's holdings in NRG Energy were worth $1,439,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of NRG Energy by 41.8% during the fourth quarter. Brighton Jones LLC now owns 5,187 shares of the utilities provider's stock worth $468,000 after purchasing an additional 1,528 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in NRG Energy during the 4th quarter worth approximately $8,074,000. Park Square Financial Group LLC acquired a new stake in NRG Energy during the 4th quarter worth approximately $53,000. Siemens Fonds Invest GmbH purchased a new position in NRG Energy in the 4th quarter valued at approximately $212,000. Finally, 111 Capital purchased a new position in NRG Energy in the 4th quarter valued at approximately $242,000. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on NRG shares. Scotiabank started coverage on NRG Energy in a research note on Monday. They issued a "sector outperform" rating and a $212.00 price objective on the stock. Citigroup increased their price target on NRG Energy from $133.00 to $185.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Wall Street Zen cut NRG Energy from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Raymond James Financial began coverage on shares of NRG Energy in a research note on Friday, June 13th. They set a "strong-buy" rating and a $195.00 target price on the stock. Finally, Melius began coverage on shares of NRG Energy in a research note on Wednesday, August 20th. They issued a "buy" rating and a $308.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, NRG Energy has a consensus rating of "Moderate Buy" and a consensus price target of $188.85.

NRG Energy Stock Performance

Shares of NRG opened at $163.01 on Friday. The company has a market capitalization of $31.53 billion, a price-to-earnings ratio of 73.76, a price-to-earnings-growth ratio of 1.36 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 company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 5.99. The stock has a 50 day moving average price of $155.98 and a 200 day moving average price of $137.83.

NRG Energy (NYSE:NRG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $1.68 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.04). NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.The company had revenue of $6.74 billion for the quarter, compared to analysts' expectations of $6.63 billion. During the same quarter in the prior year, the firm posted $3.37 EPS. The firm's quarterly revenue was up 1.2% compared to the same quarter last year. Research analysts predict that NRG Energy, Inc. will post 6.36 EPS for the current fiscal year.

NRG Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, August 1st. NRG Energy's dividend payout ratio is currently 79.64%.

Insider Activity at NRG Energy

In other news, VP Dak Liyanearachchi sold 10,672 shares of NRG Energy stock in a transaction dated 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 sale, the vice president owned 48,571 shares in the company, valued at approximately $7,528,505. The trade was a 18.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.86% of the company's stock.

NRG Energy Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.