Patton Fund Management Inc. Cuts Stake in NRG Energy, Inc. $NRG

Patton Fund Management Inc. lowered its holdings in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 55.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,422 shares of the utilities provider's stock after selling 26,858 shares during the quarter. NRG Energy makes up 2.4% of Patton Fund Management Inc.'s portfolio, making the stock its 21st biggest holding. Patton Fund Management Inc.'s holdings in NRG Energy were worth $3,440,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. GW&K Investment Management LLC grew its position in shares of NRG Energy by 23.8% during the first quarter. GW&K Investment Management LLC now owns 672 shares of the utilities provider's stock worth $64,000 after purchasing an additional 129 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of NRG Energy by 99.2% during the first quarter. Envestnet Asset Management Inc. now owns 413,911 shares of the utilities provider's stock worth $39,512,000 after purchasing an additional 206,096 shares in the last quarter. Exchange Traded Concepts LLC grew its position in shares of NRG Energy by 54.4% during the first quarter. Exchange Traded Concepts LLC now owns 6,215 shares of the utilities provider's stock worth $593,000 after purchasing an additional 2,190 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of NRG Energy by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 23,728 shares of the utilities provider's stock worth $2,265,000 after purchasing an additional 630 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in shares of NRG Energy by 28.4% during the first quarter. Janney Montgomery Scott LLC now owns 16,815 shares of the utilities provider's stock worth $1,605,000 after purchasing an additional 3,721 shares in the last quarter. Hedge funds and other institutional investors own 97.72% of the company's stock.

NRG Energy Price Performance

NYSE:NRG opened at $168.66 on Friday. The firm has a market capitalization of $32.62 billion, a price-to-earnings ratio of 76.32, a PEG ratio of 1.33 and a beta of 1.17. NRG Energy, Inc. has a 1 year low of $79.57 and a 1 year high of $175.96. The business has a 50 day simple moving average of $156.31 and a 200-day simple moving average of $138.39. 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 (NYSE:NRG - Get Free Report) last posted 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 company 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 for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $3.37 earnings per share. Equities analysts forecast that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, August 1st. NRG Energy's dividend payout ratio (DPR) is presently 79.64%.

Insider Buying and Selling at NRG Energy

In other news, VP Dak Liyanearachchi sold 10,672 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $155.00, for a total value of $1,654,160.00. Following the sale, the vice president directly owned 48,571 shares in the company, valued at approximately $7,528,505. This represents a 18.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.86% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Melius assumed coverage on NRG Energy in a research note on Wednesday, August 20th. They set a "buy" rating and a $308.00 price target for the company. Scotiabank assumed coverage on NRG Energy in a research note on Monday, September 22nd. They set a "sector outperform" rating and a $212.00 price target for the company. Wall Street Zen lowered NRG Energy from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. BMO Capital Markets increased their price target on NRG Energy from $167.00 to $185.00 and gave the company a "market perform" rating in a research note on Wednesday, August 6th. Finally, Melius Research assumed coverage on NRG Energy in a research note on Wednesday, August 20th. They set a "buy" rating and a $308.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $188.85.

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.

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