NRG Energy, Inc. $NRG Shares Sold by Wedge Capital Management L L P NC

Key Points

• Wedge Capital Management L L P NC reduced its stake in NRG Energy, Inc. by 22.7%, selling 30,061 shares and holding approximately 102,569 shares worth $16.47 million at the end of the recent quarter.
• Insider selling was noted as VP Dak Liyanearachchi sold 10,672 shares for about $1.65 million, marking an 18.01% decrease in their ownership of the stock.
• Analysts' ratings for NRG Energy varied, with one firm downgrading it from a "buy" to a "hold," while others set a target price ranging from $195 to $308, reflecting a mix of outlooks on the stock.

Wedge Capital Management L L P NC cut its stake in NRG Energy, Inc. (NYSE:NRG - Free Report) by 22.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 102,569 shares of the utilities provider's stock after selling 30,061 shares during the period. Wedge Capital Management L L P NC owned about 0.05% of NRG Energy worth $16,471,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Horizon Investments LLC grew its stake in shares of NRG Energy by 3.0% in the 1st quarter. Horizon Investments LLC now owns 2,908 shares of the utilities provider's stock worth $276,000 after purchasing an additional 86 shares during the last quarter. Mather Group LLC. raised its position in shares of NRG Energy by 12.1% in the first quarter. Mather Group LLC. now owns 900 shares of the utilities provider's stock valued at $86,000 after purchasing an additional 97 shares during the period. Cullen Frost Bankers Inc. raised its position in shares of NRG Energy by 13.0% in the first quarter. Cullen Frost Bankers Inc. now owns 904 shares of the utilities provider's stock valued at $86,000 after purchasing an additional 104 shares during the period. Private Trust Co. NA increased its position in NRG Energy by 8.7% during the first quarter. Private Trust Co. NA now owns 1,482 shares of the utilities provider's stock worth $141,000 after acquiring an additional 119 shares during the period. Finally, Allworth Financial LP increased its position in NRG Energy by 19.2% during the first quarter. Allworth Financial LP now owns 758 shares of the utilities provider's stock worth $72,000 after acquiring an additional 122 shares during the period. 97.72% of the stock is currently owned by institutional investors and hedge funds.

NRG Energy Stock Down 0.2%

NRG stock traded down $0.32 on Friday, hitting $163.87. 4,195,804 shares of the company's stock were exchanged, compared to its average volume of 2,121,923. The company has a debt-to-equity ratio of 5.99, a quick ratio of 0.88 and a current ratio of 0.93. The firm has a 50 day moving average price of $154.44 and a two-hundred day moving average price of $136.30. The stock 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. NRG Energy, Inc. has a 12-month low of $79.57 and a 12-month high of $175.96.

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

NRG Energy Dividend Announcement

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

Insider Buying and Selling at NRG Energy

In other news, VP Dak Liyanearachchi sold 10,672 shares of the company's stock in a transaction on 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 sale, the vice president directly owned 48,571 shares in the company, valued at $7,528,505. This represents a 18.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.61% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. 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, August 7th. Raymond James Financial assumed coverage on shares of NRG Energy in a report on Friday, June 13th. They set a "strong-buy" rating and a $195.00 target price for the company. Wall Street Zen downgraded NRG Energy from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Melius assumed coverage on NRG Energy in a research report on Wednesday, August 20th. They set a "buy" rating and a $308.00 price objective on the stock. Finally, BMO Capital Markets boosted their price target on NRG Energy from $167.00 to $185.00 and gave the company a "market perform" rating in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, NRG Energy has an average 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.