Rocky Mountain Advisers LLC Lowers Stock Position in NRG Energy, Inc. (NYSE:NRG)

Rocky Mountain Advisers LLC lowered its position in NRG Energy, Inc. (NYSE:NRG) by 14.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,850 shares of the utilities provider’s stock after selling 1,670 shares during the period. NRG Energy comprises approximately 0.3% of Rocky Mountain Advisers LLC’s investment portfolio, making the stock its 24th biggest position. Rocky Mountain Advisers LLC’s holdings in NRG Energy were worth $897,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Quadrature Capital Ltd raised its position in NRG Energy by 148.6% during the first quarter. Quadrature Capital Ltd now owns 21,814 shares of the utilities provider’s stock worth $1,477,000 after acquiring an additional 13,040 shares during the period. Cetera Investment Advisers lifted its stake in NRG Energy by 104.5% in the 1st quarter. Cetera Investment Advisers now owns 73,865 shares of the utilities provider’s stock valued at $5,000,000 after buying an additional 37,750 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in NRG Energy by 65.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,596,684 shares of the utilities provider’s stock worth $124,318,000 after buying an additional 633,765 shares during the last quarter. Friedenthal Financial purchased a new stake in NRG Energy during the 2nd quarter worth approximately $746,000. Finally, State Board of Administration of Florida Retirement System raised its holdings in shares of NRG Energy by 2.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 288,619 shares of the utilities provider’s stock valued at $19,537,000 after acquiring an additional 7,880 shares during the last quarter. 97.72% of the stock is owned by hedge funds and other institutional investors.

NRG Energy Trading Down 0.3 %

Shares of NRG Energy stock opened at $96.14 on Friday. The stock has a 50 day moving average of $87.21 and a 200 day moving average of $81.75. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.11 and a current ratio of 1.18. The firm has a market capitalization of $19.84 billion, a price-to-earnings ratio of 10.47, a PEG ratio of 1.36 and a beta of 1.10. NRG Energy, Inc. has a fifty-two week low of $44.90 and a fifty-two week high of $102.84.

NRG Energy (NYSE:NRG) last announced its earnings results on Thursday, August 8th. The utilities provider reported $3.37 earnings per share for the quarter, topping the consensus estimate of $1.55 by $1.82. The company had revenue of $6.66 billion during the quarter, compared to analyst estimates of $8.32 billion. NRG Energy had a net margin of 7.19% and a return on equity of 43.69%. NRG Energy’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.10 earnings per share. As a group, research analysts predict that NRG Energy, Inc. will post 6.29 earnings per share for the current year.

NRG Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a dividend of $0.4075 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.63 annualized dividend and a dividend yield of 1.70%. NRG Energy’s dividend payout ratio is currently 17.76%.

Insider Activity

In related news, insider Rasesh M. Patel sold 102,603 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $80.35, for a total transaction of $8,244,151.05. Following the completion of the transaction, the insider now directly owns 163,680 shares in the company, valued at $13,151,688. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. BMO Capital Markets boosted their price target on NRG Energy from $90.00 to $94.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Guggenheim increased their target price on shares of NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Wells Fargo & Company boosted their price target on shares of NRG Energy from $120.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Jefferies Financial Group initiated coverage on shares of NRG Energy in a report on Friday, September 13th. They issued a “hold” rating and a $82.00 price objective for the company. Finally, Citigroup upped their price target on NRG Energy from $84.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $96.00.

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.