Viking Fund Management LLC Sells 4,000 Shares of NRG Energy, Inc. $NRG

Key Points

• Viking Fund Management LLC reduced its shareholding in NRG Energy, Inc. by 12.5%, now owning 28,000 shares valued at approximately $4.5 million.
• NRG Energy's recent quarterly earnings reported $1.68 EPS, which was below the consensus estimate of $1.72, while revenue increased by 1.2% year-over-year to $6.74 billion.
• The company announced a quarterly dividend of $0.44, representing an annualized rate of $1.76 and a dividend yield of 1.1% with a payout ratio of 79.64%.

Viking Fund Management LLC lowered its stake in NRG Energy, Inc. (NYSE:NRG - Free Report) by 12.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,000 shares of the utilities provider's stock after selling 4,000 shares during the period. Viking Fund Management LLC's holdings in NRG Energy were worth $4,496,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in NRG. Brighton Jones LLC lifted its position in NRG Energy by 41.8% in the 4th quarter. Brighton Jones LLC now owns 5,187 shares of the utilities provider's stock valued at $468,000 after acquiring an additional 1,528 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of NRG Energy by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,876 shares of the utilities provider's stock worth $1,703,000 after buying an additional 820 shares in the last quarter. Woodline Partners LP bought a new position in NRG Energy during the 4th quarter worth $1,098,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of NRG Energy by 17.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,223,591 shares of the utilities provider's stock valued at $110,392,000 after buying an additional 182,438 shares in the last quarter. Finally, Vise Technologies Inc. boosted its stake in NRG Energy by 178.8% in the fourth quarter. Vise Technologies Inc. now owns 7,366 shares of the utilities provider's stock valued at $665,000 after buying an additional 4,724 shares in the last quarter. Institutional investors and hedge funds own 97.72% of the company's stock.

NRG Energy Price Performance

Shares of NRG Energy stock traded down $0.32 on Friday, reaching $163.87. The stock had a trading volume of 4,195,804 shares, compared to its average volume of 2,007,153. The business's 50 day moving average is $154.44 and its two-hundred day moving average is $135.99. The company has a market cap of $31.70 billion, a P/E ratio of 74.15, 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.

NRG Energy (NYSE:NRG - Get Free Report) last posted its earnings results on Wednesday, August 6th. The utilities provider reported $1.68 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.04). The business had revenue of $6.74 billion for 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%.NRG Energy's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.37 earnings per share. As a group, research analysts anticipate that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Dividend Announcement

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

Insider Buying and Selling

In other NRG Energy news, VP Dak Liyanearachchi sold 10,672 shares of the stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $155.00, for a total transaction of $1,654,160.00. Following the completion of the sale, the vice president owned 48,571 shares of the company's stock, valued at $7,528,505. This represents a 18.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.86% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Melius initiated coverage on NRG Energy in a research note on Wednesday, August 20th. They set a "buy" rating and a $308.00 price target on the stock. Barclays increased their price target on NRG Energy from $197.00 to $203.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Melius Research initiated coverage on NRG Energy in a research note on Wednesday, August 20th. They set a "buy" rating and a $308.00 price target on the stock. Citigroup lifted their price objective on shares of NRG Energy from $133.00 to $185.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Finally, BMO Capital Markets upped their target price on shares of NRG Energy from $167.00 to $185.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, NRG Energy currently has a consensus rating of "Moderate Buy" and an average target price of $186.92.

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.