Argent Trust Co Trims Position in NRG Energy, Inc. (NYSE:NRG)

Argent Trust Co decreased its position in shares of NRG Energy, Inc. (NYSE:NRG) by 18.1% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,533 shares of the utilities provider’s stock after selling 1,000 shares during the quarter. Argent Trust Co’s holdings in NRG Energy were worth $353,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. LifeSteps Financial Inc. bought a new position in shares of NRG Energy in the first quarter worth about $31,000. Rothschild Investment LLC purchased a new position in NRG Energy in the 2nd quarter worth approximately $32,000. Mather Group LLC. bought a new position in NRG Energy in the 1st quarter worth approximately $33,000. First Horizon Advisors Inc. raised its position 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 valued at $34,000 after buying an additional 191 shares during the last quarter. Finally, Crewe Advisors LLC purchased a new position in shares of NRG Energy in the first quarter worth $36,000. Institutional investors own 97.72% of the company’s stock.

Wall Street Analyst Weigh In

NRG has been the topic of a number of research reports. Wells Fargo & Company lifted their price target on shares of NRG Energy from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. StockNews.com cut NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Morgan Stanley raised their price target on NRG Energy from $70.00 to $83.00 and gave the company an “equal weight” rating in a report on Tuesday, May 28th. Finally, Jefferies Financial Group initiated coverage on NRG Energy in a report on Friday, September 13th. They set a “hold” rating and a $82.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $73.75.

Insider Buying and Selling

In other NRG Energy news, insider Rasesh M. Patel sold 102,603 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was 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 owns 163,680 shares in the company, valued at $13,151,688. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.86% of the stock is currently owned by corporate insiders.

NRG Energy Price Performance

NYSE:NRG opened at $87.09 on Friday. The firm has a market capitalization of $18.16 billion, a price-to-earnings ratio of 12.34 and a beta of 1.10. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.18 and a quick ratio of 1.11. The business has a 50 day simple moving average of $78.46 and a 200-day simple moving average of $76.11. NRG Energy, Inc. has a 1 year low of $36.61 and a 1 year high of $87.58.

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, topping analysts’ consensus estimates of $1.55 by $1.82. NRG Energy had a return on equity of 43.69% and a net margin of 7.19%. The company had revenue of $6.66 billion during the quarter, compared to the consensus estimate of $8.32 billion. During the same period last year, the company earned $1.10 earnings per share. NRG Energy’s revenue was up 4.9% on a year-over-year basis. Equities analysts forecast that NRG Energy, Inc. will post 4.45 EPS for the current year.

NRG Energy Dividend Announcement

The company 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. The ex-dividend date was Thursday, August 1st. This represents a $1.63 annualized dividend and a yield of 1.87%. NRG Energy’s payout ratio is 23.09%.

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.