Allspring Global Investments Holdings LLC Decreases Position in NRG Energy, Inc. $NRG

Allspring Global Investments Holdings LLC cut its stake in shares of NRG Energy, Inc. (NYSE:NRG) by 38.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,318 shares of the utilities provider’s stock after selling 13,144 shares during the period. Allspring Global Investments Holdings LLC’s holdings in NRG Energy were worth $3,325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GW&K Investment Management LLC raised its position in NRG Energy by 23.8% during the first quarter. GW&K Investment Management LLC now owns 672 shares of the utilities provider’s stock valued at $64,000 after purchasing an additional 129 shares during the period. Envestnet Asset Management Inc. raised its position in NRG Energy by 99.2% during the first quarter. Envestnet Asset Management Inc. now owns 413,911 shares of the utilities provider’s stock valued at $39,512,000 after purchasing an additional 206,096 shares during the period. State of Alaska Department of Revenue raised its position in NRG Energy by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 23,728 shares of the utilities provider’s stock valued at $2,265,000 after purchasing an additional 630 shares during the period. Janney Montgomery Scott LLC raised its position in NRG Energy by 28.4% during the first quarter. Janney Montgomery Scott LLC now owns 16,815 shares of the utilities provider’s stock valued at $1,605,000 after purchasing an additional 3,721 shares during the period. Finally, Spire Wealth Management raised its holdings in shares of NRG Energy by 55.1% in the first quarter. Spire Wealth Management now owns 4,391 shares of the utilities provider’s stock worth $419,000 after buying an additional 1,560 shares during the period. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NRG Energy

In other news, VP Dak Liyanearachchi sold 10,672 shares of the firm’s stock in a transaction on 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 owned 48,571 shares of the company’s stock, valued at $7,528,505. This trade represents a 18.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.61% of the company’s stock.

NRG Energy Stock Down 1.0%

Shares of NYSE NRG opened at $167.01 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 5.99. The stock has a market capitalization of $32.31 billion, a PE ratio of 75.57 and a beta of 1.14. The stock’s fifty day simple moving average is $158.38 and its two-hundred day simple moving average is $146.78. NRG Energy, Inc. has a 12-month low of $79.57 and a 12-month high of $175.96.

NRG Energy (NYSE:NRG) last announced its earnings results on Wednesday, August 6th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.04). The company had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.63 billion. NRG Energy had a net margin of 1.78% and a return on equity of 88.22%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same period last year, the business posted $3.37 EPS. As a group, analysts expect that NRG Energy, Inc. will post 6.36 EPS for the current fiscal year.

NRG Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, November 3rd will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, November 3rd. NRG Energy’s dividend payout ratio (DPR) is 79.64%.

Wall Street Analyst Weigh In

NRG has been the topic of several recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of NRG Energy in a report on Wednesday, October 8th. Jefferies Financial Group reiterated a “buy” rating and issued a $198.00 price target on shares of NRG Energy in a report on Monday. Zacks Research upgraded NRG Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. Melius Research initiated coverage on NRG Energy in a report on Wednesday, August 20th. They issued a “buy” rating and a $308.00 price target on the stock. Finally, Barclays increased their price target on NRG Energy from $197.00 to $203.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, NRG Energy presently has an average rating of “Moderate Buy” and a consensus target price of $193.92.

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.