PNC Financial Services Group Inc. Has $884,000 Position in NRG Energy Inc (NRG)

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PNC Financial Services Group Inc. cut its holdings in NRG Energy Inc (NYSE:NRG) by 15.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,262 shares of the utilities provider’s stock after selling 4,106 shares during the quarter. PNC Financial Services Group Inc.’s holdings in NRG Energy were worth $884,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Sterling Investment Advisors Ltd. lifted its position in NRG Energy by 202.8% in the 4th quarter. Sterling Investment Advisors Ltd. now owns 1,493 shares of the utilities provider’s stock valued at $59,000 after acquiring an additional 1,000 shares in the last quarter. Acadian Asset Management LLC bought a new position in NRG Energy in the 4th quarter valued at approximately $91,000. Private Capital Group LLC lifted its position in NRG Energy by 67.9% in the 4th quarter. Private Capital Group LLC now owns 2,498 shares of the utilities provider’s stock valued at $99,000 after acquiring an additional 1,010 shares in the last quarter. Enlightenment Research LLC bought a new position in NRG Energy in the 4th quarter valued at approximately $103,000. Finally, JS Capital Management LLC bought a new position in NRG Energy in the 3rd quarter valued at approximately $105,000. 97.23% of the stock is currently owned by institutional investors and hedge funds.

In related news, SVP David Callen sold 41,011 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $41.83, for a total value of $1,715,490.13. Following the transaction, the senior vice president now directly owns 58,130 shares of the company’s stock, valued at approximately $2,431,577.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Robert J. Gaudette sold 18,571 shares of the firm’s stock in a transaction on Thursday, January 10th. The stock was sold at an average price of $39.42, for a total value of $732,068.82. The disclosure for this sale can be found here. Insiders have sold a total of 93,878 shares of company stock worth $3,758,695 over the last three months. Insiders own 0.38% of the company’s stock.

Several equities analysts have recently weighed in on the company. Citigroup increased their price target on NRG Energy from $38.00 to $47.00 and gave the company a “buy” rating in a report on Monday, December 10th. Zacks Investment Research raised NRG Energy from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a report on Wednesday, January 23rd. ValuEngine raised NRG Energy from a “hold” rating to a “buy” rating in a report on Thursday, March 7th. Deutsche Bank cut NRG Energy from a “buy” rating to a “hold” rating and set a $45.00 price target on the stock. in a report on Monday, January 28th. Finally, Macquarie set a $48.00 price target on NRG Energy and gave the company a “buy” rating in a report on Friday, March 1st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $42.57.

NYSE NRG opened at $41.86 on Friday. The firm has a market cap of $12.10 billion, a PE ratio of 17.37 and a beta of 0.78. The company has a current ratio of 1.50, a quick ratio of 1.33 and a debt-to-equity ratio of 7.16. NRG Energy Inc has a 1-year low of $29.74 and a 1-year high of $43.48.

The company also recently declared a quarterly dividend, which was paid on Friday, February 15th. Stockholders of record on Friday, February 1st were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, January 31st. This represents a $0.12 annualized dividend and a dividend yield of 0.29%. NRG Energy’s payout ratio is 4.98%.

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NRG Energy Profile

NRG Energy, Inc, together with its subsidiaries, operates as an energy company in the United States. The company is involved in the producing, selling, and delivering electricity and related products and services to 3.1 million residential, industrial, and commercial consumers. It generates electricity using natural gas, coal, oil, solar, nuclear, wind, fossil fuel, and nuclear sources.

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Institutional Ownership by Quarter for NRG Energy (NYSE:NRG)

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