Rafferty Asset Management LLC Reduces Holdings in NRG Energy, Inc. $NRG

Key Points

• Rafferty Asset Management LLC sold 2,086 shares of NRG Energy, reducing its holdings by 9.2%, leaving it with a total of 20,649 shares valued at approximately $1.97 million.
• NRG Energy reported earnings per share (EPS) of $1.68 for the last quarter, which slightly missed analysts' consensus expectations of $1.72, although its revenue of $6.74 billion exceeded forecasts.
• The company has a current dividend yield of 1.2%, having announced a quarterly dividend of $0.44 per share, and has a dividend payout ratio of 79.64%.

Rafferty Asset Management LLC trimmed its stake in NRG Energy, Inc. (NYSE:NRG - Free Report) by 9.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,649 shares of the utilities provider's stock after selling 2,086 shares during the period. Rafferty Asset Management LLC's holdings in NRG Energy were worth $1,971,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on NRG. Guggenheim boosted their target price on shares of NRG Energy from $138.00 to $173.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Melius initiated coverage on NRG Energy in a research note on Wednesday, August 20th. They issued a "buy" rating and a $308.00 price objective on the stock. Citigroup raised their target price on NRG Energy from $133.00 to $185.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Raymond James Financial assumed coverage on NRG Energy in a report on Friday, June 13th. They issued a "strong-buy" rating and a $195.00 target price for the company. Finally, Barclays increased their price target on NRG Energy from $197.00 to $203.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $186.92.

NRG Energy Stock Up 0.2%

NYSE NRG traded up $0.35 on Thursday, reaching $147.26. The company had a trading volume of 506,131 shares, compared to its average volume of 3,135,057. 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 company's fifty day moving average is $153.91 and its 200 day moving average is $131.43. NRG Energy, Inc. has a 52-week low of $76.13 and a 52-week high of $175.96. The stock has a market capitalization of $28.48 billion, a P/E ratio of 66.63, a P/E/G ratio of 1.19 and a beta of 1.17.

NRG Energy (NYSE:NRG - Get Free Report) last posted its earnings results 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). NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.The firm had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.63 billion. During the same quarter in the previous year, the company earned $3.37 EPS. The business's revenue was up 1.2% compared to the same quarter last year. Sell-side analysts anticipate that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, August 1st. NRG Energy's dividend payout ratio (DPR) is 79.64%.

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.