NRG Energy, Inc. $NRG Holdings Boosted by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of NRG Energy, Inc. (NYSE:NRG) by 2.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 443,856 shares of the utilities provider’s stock after purchasing an additional 10,753 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.21% of NRG Energy worth $42,455,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new position in shares of NRG Energy in the second quarter valued at approximately $473,391,000. Bank of America Corp DE increased its position in shares of NRG Energy by 16.7% during the 1st quarter. Bank of America Corp DE now owns 2,192,394 shares of the utilities provider’s stock valued at $320,396,000 after purchasing an additional 313,410 shares during the last quarter. Dimensional Fund Advisors LP grew its position in NRG Energy by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,191,133 shares of the utilities provider’s stock valued at $320,145,000 after acquiring an additional 21,666 shares during the last quarter. Assenagon Asset Management S.A. raised its position in NRG Energy by 96.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 967,264 shares of the utilities provider’s stock worth $141,279,000 after purchasing an additional 474,474 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of NRG Energy by 50.4% in the first quarter. Sei Investments Co. now owns 857,186 shares of the utilities provider’s stock worth $125,268,000 after buying an additional 287,381 shares during the period. Hedge funds and other institutional investors own 97.72% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Williams Trading set a $165.00 price target on shares of NRG Energy in a report on Wednesday, October 21st. Morgan Stanley reduced their target price on shares of NRG Energy from $159.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 21st. BMO Capital Markets reiterated a “market perform” rating and set a $214.00 price objective on shares of NRG Energy in a research note on Thursday, August 6th. HSBC started coverage on NRG Energy in a research note on Thursday, October 22nd. They issued a “buy” rating and a $179.00 target price on the stock. Finally, Zacks Research raised NRG Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, NRG Energy has an average rating of “Moderate Buy” and a consensus price target of $173.56.

NRG Energy Stock Down 13.8%

NRG stock opened at $82.96 on Thursday. The stock has a market capitalization of $17.50 billion, a P/E ratio of 21.95 and a beta of 1.22. The company has a debt-to-equity ratio of 5.17, a current ratio of 0.97 and a quick ratio of 0.89. NRG Energy, Inc. has a 1-year low of $81.64 and a 1-year high of $189.96. The business has a fifty day moving average price of $103.23 and a 200-day moving average price of $134.37.

NRG Energy (NYSE:NRG) last released its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $1.49 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.20). NRG Energy had a return on equity of 52.95% and a net margin of 2.56%. The business had revenue of $7.48 billion during the quarter, compared to the consensus estimate of $7.31 billion. During the same quarter in the previous year, the business posted $1.73 earnings per share. NRG Energy’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities analysts forecast that NRG Energy, Inc. will post 8.62 earnings per share for the current fiscal year.

NRG Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be issued a dividend of $0.4750 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, November 2nd. NRG Energy’s dividend payout ratio (DPR) is presently 50.26%.

Insider Activity at NRG Energy

In other news, CAO Gerald Alfred Spencer sold 1,580 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $120.93, for a total transaction of $191,069.40. Following the completion of the transaction, the chief accounting officer directly owned 6,213 shares of the company’s stock, valued at $751,338.09. The trade was a 20.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by corporate insiders.

NRG Energy Company Profile

NRG Energy, Inc is an integrated power and home services company headquartered in Houston, Texas. The company produces and sells electricity through a diverse generation portfolio that includes natural gas, coal, nuclear power, renewable energy and battery storage. NRG serves wholesale and retail energy markets, with operations and customers primarily in the United States and Canada.

Through retail brands including Reliant and Direct Energy, NRG provides electricity, natural gas and related energy products to residential, commercial and industrial customers.