Robertson Stephens Wealth Management LLC Sells 1,047 Shares of NRG Energy, Inc. $NRG

Robertson Stephens Wealth Management LLC decreased its position in NRG Energy, Inc. (NYSE:NRG) by 30.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,384 shares of the utilities provider’s stock after selling 1,047 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in NRG Energy were worth $383,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. GW&K Investment Management LLC boosted its stake in NRG Energy by 23.8% in the 1st quarter. GW&K Investment Management LLC now owns 672 shares of the utilities provider’s stock worth $64,000 after purchasing an additional 129 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in NRG Energy by 99.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 413,911 shares of the utilities provider’s stock worth $39,512,000 after purchasing an additional 206,096 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in NRG Energy by 54.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 6,215 shares of the utilities provider’s stock worth $593,000 after purchasing an additional 2,190 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in NRG Energy by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 23,728 shares of the utilities provider’s stock worth $2,265,000 after purchasing an additional 630 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in NRG Energy by 28.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,815 shares of the utilities provider’s stock worth $1,605,000 after purchasing an additional 3,721 shares in the last quarter. Institutional investors own 97.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NRG. Weiss Ratings reiterated a “hold (c)” rating on shares of NRG Energy in a research note on Wednesday. Wall Street Zen lowered NRG Energy from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Scotiabank started coverage on NRG Energy in a research report on Monday, September 22nd. They issued a “sector outperform” rating and a $212.00 target price for the company. Melius Research started coverage on NRG Energy in a research report on Wednesday, August 20th. They issued a “buy” rating and a $308.00 target price for the company. Finally, Citigroup boosted their target price on NRG Energy from $133.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, NRG Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $188.85.

Insider Activity at NRG Energy

In related news, VP Dak Liyanearachchi sold 10,672 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $155.00, for a total value of $1,654,160.00. Following the completion of the sale, the vice president directly owned 48,571 shares of the company’s stock, valued at approximately $7,528,505. This represents a 18.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.86% of the stock is owned by insiders.

NRG Energy Price Performance

NYSE NRG opened at $160.66 on Friday. NRG Energy, Inc. has a 52 week low of $79.57 and a 52 week high of $175.96. The firm has a market capitalization of $31.08 billion, a P/E ratio of 72.70, a PEG ratio of 1.29 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 5.99. The company has a 50-day moving average price of $157.20 and a 200-day moving average price of $143.34.

NRG Energy (NYSE:NRG) last released its quarterly 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). NRG Energy had a net margin of 1.78% and a return on equity of 88.22%. The business had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.63 billion. During the same period in the previous year, the company earned $3.37 EPS. NRG Energy’s revenue for the quarter was up 1.2% compared to the same quarter last year. Equities research analysts anticipate that NRG Energy, Inc. will post 6.36 earnings per share for the current year.

NRG Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were given 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 dividend payout ratio is presently 79.64%.

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.