NRG Energy, Inc. (NYSE:NRG) Stake Lowered by Hedeker Wealth LLC

Hedeker Wealth LLC reduced its stake in shares of NRG Energy, Inc. (NYSE:NRG) by 2.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 62,422 shares of the utilities provider’s stock after selling 1,527 shares during the period. Hedeker Wealth LLC’s holdings in NRG Energy were worth $4,225,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Rubric Capital Management LP grew its holdings in shares of NRG Energy by 91.6% during the 3rd quarter. Rubric Capital Management LP now owns 1,318,020 shares of the utilities provider’s stock valued at $50,770,000 after acquiring an additional 629,993 shares in the last quarter. Wellington Management Group LLP boosted its holdings in NRG Energy by 486.2% in the third quarter. Wellington Management Group LLP now owns 900,526 shares of the utilities provider’s stock worth $34,688,000 after purchasing an additional 746,899 shares in the last quarter. SG Americas Securities LLC boosted its holdings in NRG Energy by 14,547.8% in the fourth quarter. SG Americas Securities LLC now owns 515,310 shares of the utilities provider’s stock worth $26,642,000 after purchasing an additional 511,792 shares in the last quarter. California Public Employees Retirement System boosted its holdings in NRG Energy by 0.6% in the fourth quarter. California Public Employees Retirement System now owns 438,530 shares of the utilities provider’s stock worth $22,672,000 after purchasing an additional 2,545 shares in the last quarter. Finally, Bridgewater Associates LP boosted its holdings in NRG Energy by 17.6% in the fourth quarter. Bridgewater Associates LP now owns 357,929 shares of the utilities provider’s stock worth $18,505,000 after purchasing an additional 53,603 shares in the last quarter. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Rasesh M. Patel sold 24,546 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $83.41, for a total transaction of $2,047,381.86. Following the sale, the insider now directly owns 266,064 shares of the company’s stock, valued at $22,192,398.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.61% of the stock is owned by insiders.

NRG Energy Stock Performance

Shares of NRG traded up $0.65 during trading hours on Wednesday, reaching $78.54. 171,313 shares of the company traded hands, compared to its average volume of 3,681,747. The stock’s fifty day moving average is $79.53 and its 200 day moving average is $65.85. The stock has a market cap of $16.37 billion, a P/E ratio of 11.03 and a beta of 1.08. The company has a debt-to-equity ratio of 3.61, a quick ratio of 0.95 and a current ratio of 1.01. NRG Energy, Inc. has a 1-year low of $35.97 and a 1-year high of $87.58.

NRG Energy (NYSE:NRG) last posted its quarterly earnings data on Tuesday, May 7th. The utilities provider reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.12). The firm had revenue of $7.43 billion for the quarter. NRG Energy had a return on equity of 42.60% and a net margin of 5.76%. Equities research analysts anticipate that NRG Energy, Inc. will post 4.5 earnings per share for the current fiscal year.

NRG Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were issued a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a dividend yield of 2.08%. The ex-dividend date was Tuesday, April 30th. NRG Energy’s payout ratio is 23.09%.

Analyst Ratings Changes

NRG has been the subject of a number of recent research reports. BMO Capital Markets upped their price objective on shares of NRG Energy from $73.00 to $82.00 and gave the stock a “market perform” rating in a report on Wednesday, May 8th. Wells Fargo & Company upped their price target on shares of NRG Energy from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, May 15th. StockNews.com upgraded shares of NRG Energy from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. Evercore ISI upped their price target on shares of NRG Energy from $55.00 to $65.00 and gave the company an “in-line” rating in a report on Monday, March 18th. Finally, Morgan Stanley upped their price target on shares of NRG Energy from $70.00 to $83.00 and gave the company an “equal weight” rating in a report on Tuesday, May 28th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $68.00.

NRG Energy Company 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.