State of Alaska Department of Revenue Has $3.52 Million Position in NRG Energy, Inc. $NRG

Key Points

• The State of Alaska Department of Revenue reduced its holdings in NRG Energy by 7.5%, now owning shares valued at approximately $3.52 million after selling 1,790 shares.
• NRG Energy announced a quarterly dividend of $0.44 per share, translating to a 1.1% yield, with a payout ratio of 79.64%.
• Wall Street analysts have mixed views on NRG Energy, with one downgrading it to a "hold" rating while others maintain "buy" ratings, leading to an average price target of $188.85.

State of Alaska Department of Revenue lowered its holdings in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 7.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,938 shares of the utilities provider's stock after selling 1,790 shares during the period. State of Alaska Department of Revenue's holdings in NRG Energy were worth $3,522,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. GW&K Investment Management LLC boosted its stake in 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 buying an additional 129 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings 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 valued at $39,512,000 after acquiring an additional 206,096 shares during the period. Exchange Traded Concepts LLC lifted its holdings 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 acquiring an additional 2,190 shares during the period. Janney Montgomery Scott LLC lifted its holdings 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 valued at $1,605,000 after acquiring an additional 3,721 shares during the period. Finally, Spire Wealth Management lifted its holdings in shares of NRG Energy by 55.1% during the first quarter. Spire Wealth Management now owns 4,391 shares of the utilities provider's stock valued at $419,000 after acquiring an additional 1,560 shares during the period. Institutional investors and hedge funds own 97.72% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NRG shares. Wall Street Zen cut NRG Energy from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Melius started coverage on NRG Energy in a report on Wednesday, August 20th. They set a "buy" rating and a $308.00 price objective for the company. Citigroup lifted their price objective on NRG Energy from $133.00 to $185.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Raymond James Financial started coverage on NRG Energy in a report on Friday, June 13th. They set a "strong-buy" rating and a $195.00 price objective for the company. Finally, BMO Capital Markets lifted 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. One 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 stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $188.85.

Insider Activity

In other news, VP Dak Liyanearachchi sold 10,672 shares of the business's 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 completion of the transaction, the vice president directly owned 48,571 shares in the company, valued at approximately $7,528,505. The trade was a 18.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.61% of the company's stock.

NRG Energy Stock Down 2.1%

Shares of NYSE NRG opened at $161.85 on Wednesday. The firm has a market capitalization of $31.31 billion, a PE ratio of 73.24, a price-to-earnings-growth ratio of 1.35 and a beta of 1.17. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 5.99. NRG Energy, Inc. has a 1 year low of $79.57 and a 1 year high of $175.96. The firm's 50-day moving average is $156.73 and its 200-day moving average is $139.68.

NRG Energy (NYSE:NRG - Get Free Report) last issued 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). The business 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%. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the business posted $3.37 EPS. Equities analysts expect that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Dividend Announcement

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

NRG Energy 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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