Kingswood Wealth Advisors LLC Trims Stock Holdings in NRG Energy, Inc. $NRG

Kingswood Wealth Advisors LLC lessened its position in shares of NRG Energy, Inc. (NYSE:NRG) by 93.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,537 shares of the utilities provider’s stock after selling 21,642 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in NRG Energy were worth $249,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of NRG. Brighton Jones LLC boosted its position in NRG Energy by 41.8% in the fourth quarter. Brighton Jones LLC now owns 5,187 shares of the utilities provider’s stock valued at $468,000 after buying an additional 1,528 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of NRG Energy in the 1st quarter valued at $323,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of NRG Energy by 7.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,257 shares of the utilities provider’s stock worth $1,934,000 after acquiring an additional 1,381 shares during the period. Woodline Partners LP raised its holdings in shares of NRG Energy by 40.7% during the first quarter. Woodline Partners LP now owns 17,114 shares of the utilities provider’s stock worth $1,634,000 after purchasing an additional 4,949 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in NRG Energy by 136.7% in the first quarter. Geneos Wealth Management Inc. now owns 2,336 shares of the utilities provider’s stock valued at $223,000 after purchasing an additional 1,349 shares during the last quarter. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

NRG Energy Stock Down 0.3%

NRG Energy stock opened at $148.80 on Tuesday. The company has a debt-to-equity ratio of 8.45, a current ratio of 1.05 and a quick ratio of 0.99. The stock has a market capitalization of $28.52 billion, a PE ratio of 22.24 and a beta of 1.25. The business has a 50 day simple moving average of $162.35 and a 200-day simple moving average of $160.20. NRG Energy, Inc. has a 12 month low of $79.57 and a 12 month high of $180.54.

NRG Energy (NYSE:NRG) last released its quarterly earnings results on Thursday, November 6th. The utilities provider reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.85. The firm had revenue of $7.64 billion for the quarter, compared to analysts’ expectations of $7.53 billion. NRG Energy had a net margin of 4.84% and a return on equity of 103.57%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.90 EPS. On average, analysts anticipate that NRG Energy, Inc. will post 6.36 EPS for the current fiscal year.

NRG Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 3rd were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Monday, November 3rd. NRG Energy’s dividend payout ratio is 26.31%.

NRG Energy declared that its board has authorized a stock buyback program on Thursday, November 6th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the utilities provider to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts have weighed in on NRG shares. BMO Capital Markets lifted their price objective on NRG Energy from $185.00 to $195.00 and gave the company a “market perform” rating in a research note on Friday, November 7th. Wells Fargo & Company upgraded NRG Energy to a “strong-buy” rating in a research report on Tuesday, October 28th. Morgan Stanley reissued an “underperform” rating on shares of NRG Energy in a report on Thursday, November 20th. Zacks Research cut shares of NRG Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 13th. Finally, Scotiabank assumed coverage on shares of NRG Energy in a research note on Monday, September 22nd. They issued a “sector outperform” rating and a $212.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, NRG Energy currently has an average rating of “Moderate Buy” and a consensus target price of $199.21.

Insider Activity at NRG Energy

In other NRG Energy news, VP Brian Curci sold 60,580 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $161.71, for a total transaction of $9,796,391.80. Following the completion of the sale, the vice president directly owned 93,089 shares in the company, valued at approximately $15,053,422.19. The trade was a 39.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Bruce Chung sold 12,383 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $156.56, for a total value of $1,938,682.48. Following the completion of the transaction, the chief financial officer owned 79,147 shares in the company, valued at approximately $12,391,254.32. This trade represents a 13.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 192,556 shares of company stock valued at $30,826,846. 0.61% of the stock is owned by corporate insiders.

NRG Energy Company Profile

NRG Energy (NYSE: NRG) is a U.S.-based integrated power company headquartered in Houston, Texas. The company develops, owns and operates a diversified portfolio of power generation assets and participates in wholesale and retail energy markets. NRG supplies electricity to utilities, commercial and industrial customers, and retail consumers, while also providing energy-related products and services designed to manage consumption and support reliability.

NRG’s generation mix includes conventional thermal plants as well as renewable and distributed energy resources.