Amalgamated Bank Has $3.38 Million Stake in NRG Energy, Inc. (NYSE:NRG)

Amalgamated Bank decreased its stake in shares of NRG Energy, Inc. (NYSE:NRG) by 44.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,400 shares of the utilities provider’s stock after selling 34,359 shares during the period. Amalgamated Bank’s holdings in NRG Energy were worth $3,379,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of NRG. First Trust Direct Indexing L.P. boosted its stake in NRG Energy by 2.8% in the first quarter. First Trust Direct Indexing L.P. now owns 5,813 shares of the utilities provider’s stock valued at $393,000 after acquiring an additional 161 shares during the last quarter. Kingswood Wealth Advisors LLC grew its position in shares of NRG Energy by 0.8% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 23,267 shares of the utilities provider’s stock worth $1,575,000 after buying an additional 174 shares during the period. Czech National Bank increased its stake in shares of NRG Energy by 0.5% in the 1st quarter. Czech National Bank now owns 39,723 shares of the utilities provider’s stock valued at $2,689,000 after acquiring an additional 181 shares during the last quarter. First Horizon Advisors Inc. raised its position in shares of NRG Energy by 76.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 191 shares during the period. Finally, Fifth Third Bancorp boosted its stake in NRG Energy by 1.2% during the 2nd quarter. Fifth Third Bancorp now owns 16,962 shares of the utilities provider’s stock worth $1,321,000 after acquiring an additional 198 shares during the last quarter. 97.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

NRG Energy Trading Up 1.0 %

NYSE:NRG opened at $88.00 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.18 and a debt-to-equity ratio of 3.51. NRG Energy, Inc. has a twelve month low of $36.61 and a twelve month high of $90.57. The company has a market cap of $18.35 billion, a P/E ratio of 12.46 and a beta of 1.10. The business has a 50 day moving average price of $78.85 and a two-hundred day moving average price of $76.72.

NRG Energy (NYSE:NRG) last issued its quarterly earnings results on Thursday, August 8th. The utilities provider reported $3.37 earnings per share (EPS) 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 firm had revenue of $6.66 billion for the quarter, compared to analyst estimates of $8.32 billion. During the same period in the previous year, the business earned $1.10 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. As a group, analysts expect that NRG Energy, Inc. will post 4.45 EPS for the current fiscal year.

NRG Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were paid a $0.4075 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.63 dividend on an annualized basis and a yield of 1.85%. NRG Energy’s dividend payout ratio is 23.09%.

Insiders Place Their Bets

In other news, insider Rasesh M. Patel sold 102,603 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $80.35, for a total value of $8,244,151.05. Following the completion of the sale, the insider now owns 163,680 shares of the company’s stock, valued at approximately $13,151,688. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.86% of the company’s stock.

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.