Hsbc Holdings PLC Sells 274,167 Shares of NRG Energy, Inc. (NYSE:NRG)

Hsbc Holdings PLC cut its position in NRG Energy, Inc. (NYSE:NRG) by 36.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 471,225 shares of the utilities provider’s stock after selling 274,167 shares during the period. Hsbc Holdings PLC owned about 0.23% of NRG Energy worth $36,713,000 at the end of the most recent reporting period.

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

Insider Activity at NRG Energy

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 transaction, the insider now owns 163,680 shares of the company’s stock, valued at $13,151,688. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.86% of the stock is currently owned by company insiders.

NRG Energy Stock Performance

Shares of NYSE NRG opened at $87.09 on Friday. The stock has a market capitalization of $18.16 billion, a PE ratio of 12.34 and a beta of 1.10. NRG Energy, Inc. has a 52 week low of $36.61 and a 52 week high of $87.58. The stock has a 50 day moving average price of $78.46 and a 200 day moving average price of $76.11. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.11 and a current ratio of 1.18.

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 predict that NRG Energy, Inc. will post 4.45 earnings per share for the current fiscal year.

NRG Energy Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.