Vanguard Group Inc. Sells 879,180 Shares of NRG Energy, Inc. (NYSE:NRG)

Key Points

• Vanguard Group Inc. has reduced its stake in NRG Energy, Inc. by 3.1%, selling 879,180 shares and now holds approximately 13.43% of the company, valued at around $2.61 billion.
• NRG Energy's latest quarterly earnings showed earnings per share of $1.68, missing analysts' estimates, but revenue increased by 1.2% year-over-year to $6.74 billion.
• The company announced a dividend of $0.44 per share, with a payout ratio of 79.64%, indicating a yield of approximately 1.2% for shareholders.

Vanguard Group Inc. decreased its position in NRG Energy, Inc. (NYSE:NRG - Free Report) by 3.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,359,242 shares of the utilities provider's stock after selling 879,180 shares during the period. Vanguard Group Inc. owned approximately 13.43% of NRG Energy worth $2,611,713,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Key Financial Inc bought a new stake in shares of NRG Energy during the first quarter valued at approximately $30,000. Evermay Wealth Management LLC bought a new stake in shares of NRG Energy in the 1st quarter worth $36,000. Park Square Financial Group LLC purchased a new position in shares of NRG Energy in the fourth quarter worth $53,000. UMB Bank n.a. lifted its holdings 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 valued at $63,000 after purchasing an additional 200 shares in the last quarter. Finally, Community Bank N.A. purchased a new stake in shares of NRG Energy during the first quarter valued at $64,000. 97.72% of the stock is owned by hedge funds and other institutional investors.

NRG Energy Price Performance

Shares of NRG Energy stock opened at $152.72 on Friday. The stock's fifty day moving average is $155.73 and its 200 day moving average is $125.95. NRG Energy, Inc. has a one year low of $76.13 and a one year high of $175.96. The company has a debt-to-equity ratio of 5.99, a quick ratio of 1.02 and a current ratio of 0.93. The stock has a market cap of $29.54 billion, a P/E ratio of 69.10, a P/E/G ratio of 1.27 and a beta of 1.14.

NRG Energy (NYSE:NRG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.72 by ($0.04). The firm had revenue of $6.74 billion during the quarter, compared to analysts' expectations of $6.63 billion. NRG Energy had a return on equity of 88.22% and a net margin of 1.78%. The business's revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the company earned $3.37 earnings per share. Sell-side analysts anticipate that NRG Energy, Inc. will post 6.36 earnings per share for the current year.

NRG Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, August 1st. NRG Energy's payout ratio is presently 79.64%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Jefferies Financial Group boosted their target price on NRG Energy from $113.00 to $132.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Wall Street Zen cut shares of NRG Energy from a "buy" rating to a "hold" rating in a report on Saturday. Citigroup raised their target price on shares of NRG Energy from $133.00 to $185.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Barclays boosted their target price on shares of NRG Energy from $197.00 to $203.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, BMO Capital Markets raised their price target on NRG Energy from $167.00 to $185.00 and gave the stock a "market perform" rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $162.70.

Insiders Place Their Bets

In other NRG Energy news, Director Kevin Howell sold 50,000 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $154.50, for a total transaction of $7,725,000.00. Following the transaction, the director owned 55,427 shares in the company, valued at $8,563,471.50. The trade was a 47.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.86% of the stock is owned by insiders.

About NRG Energy

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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