Seascape Capital Management Sells 7,086 Shares of NRG Energy, Inc. $NRG

Key Points

• Seascape Capital Management reduced its NRG stake by 12.1%, selling 7,086 shares and leaving 51,237 shares worth about $8.16 million (NRG is ~2.3% of its portfolio and its 7th-largest holding).
• NRG’s latest quarter showed mixed results: EPS of $1.04 missed estimates ($1.19) while revenue of $7.75 billion beat expectations and rose 13.7% year-over-year; the stock trades near $153, has a $32.85B market cap, and carries a consensus "Moderate Buy" with a $198.21 average price target.
• Dividend hike and insider activity: NRG raised its quarterly dividend to $0.475 ($1.90 annual, ~1.2% yield), and VP Virginia Kinney sold 5,000 shares (an 8.27% reduction in her holdings).

Seascape Capital Management decreased its position in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 12.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,237 shares of the utilities provider's stock after selling 7,086 shares during the period. NRG Energy accounts for approximately 2.3% of Seascape Capital Management's portfolio, making the stock its 7th biggest holding. Seascape Capital Management's holdings in NRG Energy were worth $8,159,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of NRG. Brighton Jones LLC increased its stake in NRG Energy by 41.8% in the fourth quarter. Brighton Jones LLC now owns 5,187 shares of the utilities provider's stock valued at $468,000 after purchasing an additional 1,528 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of NRG Energy during the first quarter worth about $323,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of NRG Energy by 7.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,257 shares of the utilities provider's stock worth $1,934,000 after buying an additional 1,381 shares during the period. Woodline Partners LP boosted its stake in shares of NRG Energy by 40.7% during the first quarter. Woodline Partners LP now owns 17,114 shares of the utilities provider's stock worth $1,634,000 after buying an additional 4,949 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of NRG Energy during the second quarter worth about $7,937,000. Institutional investors and hedge funds own 97.72% of the company's stock.

NRG Energy Stock Up 2.2%

NRG Energy stock opened at $153.09 on Wednesday. The company has a debt-to-equity ratio of 15.92, a current ratio of 1.64 and a quick ratio of 1.58. NRG Energy, Inc. has a 1-year low of $83.12 and a 1-year high of $189.96. The company has a market cap of $32.85 billion, a PE ratio of 38.86 and a beta of 1.35. The stock's 50 day moving average price is $158.73 and its 200 day moving average price is $161.39.

NRG Energy (NYSE:NRG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 24th. The utilities provider reported $1.04 earnings per share for the quarter, missing analysts' consensus estimates of $1.19 by ($0.15). NRG Energy had a net margin of 2.81% and a return on equity of 109.48%. The business had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $6.68 billion. During the same quarter last year, the firm earned $1.56 earnings per share. The firm's quarterly revenue was up 13.7% compared to the same quarter last year. On average, sell-side analysts predict that NRG Energy, Inc. will post 6.36 EPS for the current fiscal year.

NRG Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 2nd were paid a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 1.2%. This is a positive change from NRG Energy's previous quarterly dividend of $0.44. The ex-dividend date was Monday, February 2nd. NRG Energy's dividend payout ratio (DPR) is 48.22%.

Insider Activity at NRG Energy

In related news, VP Virginia Kinney sold 5,000 shares of the firm's stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $156.65, for a total value of $783,250.00. Following the completion of the sale, the vice president owned 55,495 shares in the company, valued at $8,693,291.75. This trade represents a 8.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.43% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NRG. BNP Paribas Exane began coverage on shares of NRG Energy in a research note on Wednesday, March 18th. They set an "outperform" rating and a $232.00 target price for the company. Wolfe Research upgraded shares of NRG Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 target price for the company in a research note on Wednesday, March 18th. Evercore began coverage on shares of NRG Energy in a research report on Wednesday, February 25th. They set an "outperform" rating and a $215.00 price objective for the company. The Goldman Sachs Group began coverage on shares of NRG Energy in a research report on Friday, March 6th. They set a "buy" rating and a $197.00 price objective for the company. Finally, Jefferies Financial Group cut their price objective on shares of NRG Energy from $198.00 to $181.00 and set a "buy" rating for the company in a research report on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $198.21.

NRG Energy Profile

NRG Energy NYSE: NRG is a U.S.-based integrated power company headquartered in Houston, Texas. The company develops, owns and operates a diversified portfolio of power generation assets and participates in wholesale and retail energy markets. NRG supplies electricity to utilities, commercial and industrial customers, and retail consumers, while also providing energy-related products and services designed to manage consumption and support reliability.

NRG's generation mix includes conventional thermal plants as well as renewable and distributed energy resources.

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