King Luther Capital Management Corp Has $856,000 Stock Holdings in NRG Energy, Inc. (NYSE:NRG)

King Luther Capital Management Corp lowered its stake in NRG Energy, Inc. (NYSE:NRG) by 26.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,000 shares of the utilities provider’s stock after selling 4,000 shares during the quarter. King Luther Capital Management Corp’s holdings in NRG Energy were worth $856,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Janney Montgomery Scott LLC grew its position in shares of NRG Energy by 55.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 9,475 shares of the utilities provider’s stock worth $490,000 after buying an additional 3,374 shares during the period. Quadrant Capital Group LLC grew its holdings in NRG Energy by 37.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,524 shares of the utilities provider’s stock valued at $79,000 after purchasing an additional 412 shares during the period. Robeco Institutional Asset Management B.V. bought a new stake in NRG Energy in the fourth quarter valued at approximately $51,000. PNC Financial Services Group Inc. boosted its position in shares of NRG Energy by 1.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 46,338 shares of the utilities provider’s stock worth $2,396,000 after purchasing an additional 578 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of NRG Energy by 156.4% in the 4th quarter. Franklin Resources Inc. now owns 269,749 shares of the utilities provider’s stock valued at $13,946,000 after buying an additional 164,543 shares during the period. 97.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other NRG Energy news, insider Rasesh M. Patel sold 102,603 shares of NRG Energy stock in a transaction on Friday, September 13th. The shares were 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 of the company’s stock, valued at $13,151,688. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.86% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on NRG shares. Wells Fargo & Company lifted their target price on NRG Energy from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. StockNews.com downgraded shares of NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Jefferies Financial Group assumed coverage on shares of NRG Energy in a report on Friday, September 13th. They issued a “hold” rating and a $82.00 price target for the company. Finally, Morgan Stanley increased their target price on NRG Energy from $70.00 to $83.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 28th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $73.75.

NRG Energy Stock Up 6.4 %

NRG stock opened at $87.09 on Monday. NRG Energy, Inc. has a twelve month low of $36.61 and a twelve month high of $87.58. The company has a market cap of $18.16 billion, a price-to-earnings ratio of 12.34 and a beta of 1.10. The company has a quick ratio of 1.11, a current ratio of 1.18 and a debt-to-equity ratio of 3.51. The business has a 50 day moving average price of $78.60 and a two-hundred day moving average price of $76.53.

NRG Energy (NYSE:NRG) last released its earnings results on Thursday, August 8th. The utilities provider reported $3.37 earnings per share for the quarter, beating the consensus estimate of $1.55 by $1.82. NRG Energy had a net margin of 7.19% and a return on equity of 43.69%. The business had revenue of $6.66 billion during the quarter, compared to analysts’ expectations of $8.32 billion. During the same period last year, the business earned $1.10 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. Analysts anticipate that NRG Energy, Inc. will post 4.45 EPS for the current fiscal year.

NRG Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were issued a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date was Thursday, August 1st. NRG Energy’s payout ratio is currently 23.09%.

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.