Louisiana State Employees Retirement System Reduces Stock Holdings in NRG Energy, Inc. $NRG

Louisiana State Employees Retirement System decreased its position in NRG Energy, Inc. (NYSE:NRG) by 5.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,300 shares of the utilities provider’s stock after selling 600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in NRG Energy were worth $1,654,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. GW&K Investment Management LLC raised its holdings in NRG Energy by 23.8% in the first 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. raised its holdings in NRG Energy by 99.2% in the first 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 raised its holdings in NRG Energy by 54.4% in the first 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 raised its holdings in NRG Energy by 2.7% in the first 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 raised its holdings in NRG Energy by 28.4% in the first 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.

Wall Street Analysts Forecast Growth

NRG has been the subject of a number of research reports. Citigroup increased their price objective on NRG Energy from $133.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Wall Street Zen lowered NRG Energy from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Melius began coverage on NRG Energy in a research report on Wednesday, August 20th. They issued a “buy” rating and a $308.00 price target for the company. Barclays lifted their price target on NRG Energy from $197.00 to $203.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Finally, BMO Capital Markets lifted their price target on NRG Energy from $167.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, NRG Energy has a consensus rating of “Moderate Buy” and a consensus target price of $188.85.

Insider Buying and Selling

In related news, VP Dak Liyanearachchi sold 10,672 shares of NRG Energy stock in a transaction dated Wednesday, September 10th. The stock was 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 in the company, valued at approximately $7,528,505. This trade represents a 18.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.61% of the company’s stock.

NRG Energy Price Performance

NYSE NRG opened at $160.66 on Monday. NRG Energy, Inc. has a one year low of $79.57 and a one year high of $175.96. The stock has a 50-day moving average of $157.20 and a 200 day moving average of $143.68. The company has a market capitalization of $31.08 billion, a price-to-earnings ratio of 72.70, a PEG ratio of 1.29 and a beta of 1.14. The company has a debt-to-equity ratio of 5.99, a quick ratio of 0.88 and a current ratio of 0.93.

NRG Energy (NYSE:NRG) last released its quarterly earnings data 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 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 the consensus estimate of $6.63 billion. During the same quarter in the previous year, the business posted $3.37 earnings per share. NRG Energy’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, sell-side analysts forecast that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a $0.44 dividend. 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%.

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.