Sumitomo Mitsui Trust Group Inc. Has $75.38 Million Stock Holdings in NRG Energy, Inc. $NRG

Key Points

• Sumitomo Mitsui Trust Group trimmed its stake in NRG by 5.5% in Q4 to 473,369 shares, leaving it with about a $75.38 million holding (roughly 0.25% of the company).
• NRG has a consensus analyst rating of "Moderate Buy" with a consensus target of $198.21; recent coverage includes Goldman Sachs (Buy, $197) and BNP Paribas Exane (Outperform, $232), while Barclays remains Overweight at $200.
• In its latest quarter NRG missed EPS ($1.04 vs. $1.19 expected) but topped revenue estimates ($7.75B vs. $6.68B), and raised its quarterly dividend to $0.475 (annualized $1.90, ~1.1% yield).

Sumitomo Mitsui Trust Group Inc. reduced its holdings in NRG Energy, Inc. (NYSE:NRG - Free Report) by 5.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 473,369 shares of the utilities provider's stock after selling 27,305 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.25% of NRG Energy worth $75,379,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NRG. Quent Capital LLC acquired a new stake in NRG Energy in the third quarter valued at $25,000. Atlantic Union Bankshares Corp lifted its holdings in NRG Energy by 90.4% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 179 shares of the utilities provider's stock worth $29,000 after buying an additional 85 shares during the period. BOKF NA lifted its holdings in NRG Energy by 3,714.3% during the 3rd quarter. BOKF NA now owns 267 shares of the utilities provider's stock worth $43,000 after buying an additional 260 shares during the period. Beaird Harris Wealth Management LLC grew its position in shares of NRG Energy by 1,970.6% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 352 shares of the utilities provider's stock valued at $57,000 after buying an additional 335 shares during the last quarter. Finally, First Horizon Corp acquired a new stake in shares of NRG Energy in the third quarter valued at about $67,000. Institutional investors and hedge funds own 97.72% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on NRG shares. Zacks Research upgraded NRG Energy from a "strong sell" rating to a "hold" rating in a research report on Monday, February 23rd. BNP Paribas Exane began coverage on shares of NRG Energy in a research report on Wednesday, March 18th. They set an "outperform" rating and a $232.00 target price for the company. The Goldman Sachs Group initiated coverage on shares of NRG Energy in a report on Friday, March 6th. They set a "buy" rating and a $197.00 price target for the company. Barclays reduced their price objective on shares of NRG Energy from $203.00 to $200.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 31st. Finally, Morgan Stanley set a $153.00 target price on shares of NRG Energy in a research note on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, NRG Energy has a consensus rating of "Moderate Buy" and a consensus target price of $198.21.

NRG Energy Trading Up 0.4%

NYSE NRG opened at $170.91 on Wednesday. The stock has a market capitalization of $36.67 billion, a P/E ratio of 43.38 and a beta of 1.35. The business has a 50 day simple moving average of $160.03 and a 200 day simple moving average of $161.33. 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 one year low of $90.84 and a one year high of $189.96.

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

NRG Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd were paid a $0.475 dividend. The ex-dividend date was Monday, February 2nd. This represents a $1.90 annualized dividend and a dividend yield of 1.1%. This is an increase from NRG Energy's previous quarterly dividend of $0.44. NRG Energy's dividend payout ratio (DPR) is presently 48.22%.

Insider Transactions at NRG Energy

In related news, VP Virginia Kinney sold 5,000 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $156.65, for a total transaction of $783,250.00. Following the transaction, the vice president directly owned 55,495 shares of the company's stock, valued at $8,693,291.75. This represents a 8.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.43% of the stock is currently owned by corporate insiders.

NRG Energy Company 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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