NRG Energy, Inc. $NRG Shares Sold by Seascape Capital Management

Key Points

• Seascape Capital Management reduced its stake in NRG Energy by 3.8%, holding 57,877 shares after selling 2,264 shares in the second quarter.
• NRG Energy reported $1.68 earnings per share for the last quarter, missing analysts' expectations of $1.72, but achieved a revenue of $6.74 billion, exceeding estimates.
• The company declared a quarterly dividend of $0.44 per share, resulting in an annualized yield of 1.1%, with a dividend payout ratio of 79.64%.

Seascape Capital Management cut its position in NRG Energy, Inc. (NYSE:NRG - Free Report) by 3.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,877 shares of the utilities provider's stock after selling 2,264 shares during the quarter. NRG Energy comprises about 2.9% of Seascape Capital Management's holdings, making the stock its 5th largest position. Seascape Capital Management's holdings in NRG Energy were worth $9,294,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. GW&K Investment Management LLC grew its holdings in shares of NRG Energy by 23.8% in 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 during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of NRG Energy by 99.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 413,911 shares of the utilities provider's stock valued at $39,512,000 after buying 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 valued at $593,000 after purchasing an additional 2,190 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of NRG Energy by 2.7% in 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, Janney Montgomery Scott LLC raised its position in NRG Energy by 28.4% in the 1st 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 during the period. 97.72% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Dak Liyanearachchi sold 10,672 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $155.00, for a total value of $1,654,160.00. Following the completion of the sale, the vice president directly owned 48,571 shares of the company's stock, valued at $7,528,505. This represents a 18.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.61% of the company's stock.

NRG Energy Stock Up 4.1%

NYSE NRG traded up $6.75 during trading hours on Monday, reaching $171.11. 2,579,903 shares of the company traded hands, compared to its average volume of 2,121,923. NRG Energy, Inc. has a 12 month low of $79.57 and a 12 month high of $175.96. The company has a 50 day moving average of $154.84 and a two-hundred day moving average of $136.88. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 5.99. The stock has a market capitalization of $33.10 billion, a PE ratio of 77.43, a PEG ratio of 1.35 and a beta of 1.17.

NRG Energy (NYSE:NRG - Get Free Report) last announced its quarterly 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 net margin of 1.78% and a return on equity of 88.22%. The firm had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.63 billion. During the same period last year, the firm posted $3.37 EPS. The business's revenue was up 1.2% compared to the same quarter last year. As a group, equities analysts expect that NRG Energy, Inc. will post 6.36 earnings per share for the current year.

NRG Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, August 1st. NRG Energy's dividend payout ratio is 79.64%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NRG shares. Melius began coverage on NRG Energy in a research note on Wednesday, August 20th. They set a "buy" rating and a $308.00 price objective for the company. Citigroup upped 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. BMO Capital Markets boosted their price objective on NRG Energy from $167.00 to $185.00 and gave the company a "market perform" rating in a report on Wednesday, August 6th. Melius Research began coverage on NRG Energy in a research note on Wednesday, August 20th. They set a "buy" rating and a $308.00 target price for the company. Finally, Raymond James Financial assumed 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. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.