NRG Energy, Inc. (NYSE:NRG) Stake Lessened by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division lowered its holdings in NRG Energy, Inc. (NYSE:NRG) by 99.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 635 shares of the utilities provider’s stock after selling 157,000 shares during the period. Central Pacific Bank Trust Division’s holdings in NRG Energy were worth $58,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NRG. LifeSteps Financial Inc. purchased a new stake in shares of NRG Energy in the first quarter valued at $31,000. Rothschild Investment LLC purchased a new stake in shares of NRG Energy during the second quarter worth $32,000. Mather Group LLC. purchased a new stake in shares of NRG Energy during the first quarter worth $33,000. First Horizon Advisors Inc. raised its holdings in shares of NRG Energy by 76.1% during the second quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 191 shares in the last quarter. Finally, Crewe Advisors LLC purchased a new stake in shares of NRG Energy during the first quarter worth $36,000. Hedge funds and other institutional investors own 97.72% of the company’s stock.

Insider Activity

In other news, insider Rasesh M. Patel sold 102,603 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 163,680 shares of the company’s stock, valued at approximately $13,151,688. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.86% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NRG. BMO Capital Markets increased their price objective on NRG Energy from $88.00 to $90.00 and gave the stock a “market perform” rating in a report on Monday, September 30th. Wells Fargo & Company increased their price objective on NRG Energy from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Jefferies Financial Group began coverage on NRG Energy in a report on Friday, September 13th. They set a “hold” rating and a $82.00 price objective for the company. Finally, StockNews.com lowered NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $74.75.

NRG Energy Stock Up 1.4 %

NRG Energy stock traded up $1.30 during mid-day trading on Friday, hitting $95.35. 2,490,450 shares of the company’s stock were exchanged, compared to its average volume of 3,374,269. The company has a current ratio of 1.18, a quick ratio of 1.11 and a debt-to-equity ratio of 3.51. The stock has a market cap of $19.88 billion, a P/E ratio of 13.51 and a beta of 1.10. NRG Energy, Inc. has a 1-year low of $37.45 and a 1-year high of $96.20. The stock has a 50 day moving average of $81.47 and a two-hundred day moving average of $78.13.

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. The company had revenue of $6.66 billion for the quarter, compared to the consensus estimate of $8.32 billion. NRG Energy had a return on equity of 43.69% and a net margin of 7.19%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business posted $1.10 earnings per share. As a group, analysts anticipate that NRG Energy, Inc. will post 5.51 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. Stockholders of record on Thursday, August 1st were given a $0.4075 dividend. This represents a $1.63 annualized dividend and a dividend yield of 1.71%. The ex-dividend date was Thursday, August 1st. NRG Energy’s dividend payout ratio is currently 23.09%.

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.