NRG Energy, Inc. $NRG Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC reduced its position in shares of NRG Energy, Inc. (NYSE:NRG) by 7.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,432 shares of the utilities provider’s stock after selling 3,410 shares during the period. ProShare Advisors LLC’s holdings in NRG Energy were worth $7,135,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in NRG. Toth Financial Advisory Corp bought a new stake in NRG Energy during the second quarter valued at $27,000. Bank of Jackson Hole Trust acquired a new position in shares of NRG Energy in the 2nd quarter valued at about $28,000. Fourth Dimension Wealth LLC bought a new stake in shares of NRG Energy during the 2nd quarter valued at about $32,000. Kiker Wealth Management LLC acquired a new stake in NRG Energy during the second quarter worth about $37,000. Finally, ORG Partners LLC raised its stake in NRG Energy by 422.2% during the second quarter. ORG Partners LLC now owns 282 shares of the utilities provider’s stock worth $44,000 after acquiring an additional 228 shares during the period. 97.72% of the stock is currently owned by institutional investors.

Insider Activity at NRG Energy

In other news, VP Dak Liyanearachchi sold 10,672 shares of the company’s 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.86% of the company’s stock.

Analysts Set New Price Targets

NRG has been the subject of a number of research reports. BMO Capital Markets lifted their target price on NRG Energy from $185.00 to $195.00 and gave the company a “market perform” rating in a research note on Friday, November 7th. Jefferies Financial Group reissued a “buy” rating and issued a $198.00 price target on shares of NRG Energy in a report on Monday, October 20th. Melius started coverage on NRG Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $308.00 price objective for the company. Weiss Ratings raised NRG Energy from a “hold (c)” rating to a “buy (b)” rating in a research report on Friday, November 7th. Finally, Wall Street Zen downgraded shares of NRG Energy from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Three analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $198.31.

NRG Energy Stock Up 3.5%

NRG opened at $168.50 on Thursday. The stock’s 50 day moving average price is $165.55 and its 200 day moving average price is $155.48. The company has a debt-to-equity ratio of 5.99, a current ratio of 0.93 and a quick ratio of 0.88. The stock has a market cap of $32.29 billion, a P/E ratio of 76.24 and a beta of 1.16. NRG Energy, Inc. has a 12 month low of $79.57 and a 12 month high of $180.54.

NRG Energy (NYSE:NRG) last released its quarterly earnings results on Thursday, November 6th. The utilities provider reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.85. The company had revenue of $7.64 billion during the quarter, compared to analysts’ expectations of $7.53 billion. NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.90 earnings per share. As a group, research analysts predict that NRG Energy, Inc. will post 6.36 earnings per share for the current year.

NRG Energy declared that its board has approved a share buyback plan on Thursday, November 6th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the utilities provider to buy up to 9.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

NRG Energy Announces Dividend

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 paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $1.76 annualized dividend and a yield of 1.0%. NRG Energy’s dividend payout ratio (DPR) is presently 26.31%.

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.