Truist Financial Corp Decreases Position in NRG Energy, Inc. (NYSE:NRG)

Truist Financial Corp lowered its position in NRG Energy, Inc. (NYSE:NRG) by 8.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,670 shares of the utilities provider’s stock after selling 5,316 shares during the quarter. Truist Financial Corp’s holdings in NRG Energy were worth $3,085,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in NRG. Charles Schwab Investment Management Inc. raised its position in NRG Energy by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,729,390 shares of the utilities provider’s stock worth $220,696,000 after acquiring an additional 156,974 shares during the last quarter. Northern Trust Corp grew its holdings in NRG Energy by 8.9% during the 3rd quarter. Northern Trust Corp now owns 2,401,396 shares of the utilities provider’s stock valued at $92,502,000 after buying an additional 197,122 shares during the last quarter. Hsbc Holdings PLC grew its holdings in NRG Energy by 105.1% during the 3rd quarter. Hsbc Holdings PLC now owns 1,346,647 shares of the utilities provider’s stock valued at $51,642,000 after buying an additional 689,941 shares during the last quarter. Rubric Capital Management LP lifted its position in shares of NRG Energy by 91.6% in the third quarter. Rubric Capital Management LP now owns 1,318,020 shares of the utilities provider’s stock valued at $50,770,000 after acquiring an additional 629,993 shares in the last quarter. Finally, Maven Securities LTD boosted its stake in shares of NRG Energy by 72.5% during the third quarter. Maven Securities LTD now owns 1,037,284 shares of the utilities provider’s stock valued at $39,956,000 after acquiring an additional 436,046 shares during the last quarter. Institutional investors and hedge funds own 97.72% of the company’s stock.

Insider Activity at NRG Energy

In other NRG Energy news, VP Rasesh M. Patel sold 49,092 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $62.59, for a total value of $3,072,668.28. Following the completion of the sale, the vice president now owns 356,962 shares of the company’s stock, valued at $22,342,251.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.61% of the company’s stock.

NRG Energy Trading Down 5.8 %

Shares of NRG stock opened at $73.40 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 4.49. NRG Energy, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $83.03. The firm’s 50 day moving average price is $68.32 and its two-hundred day moving average price is $56.03. The stock has a market cap of $15.76 billion, a price-to-earnings ratio of -68.60 and a beta of 1.11.

NRG Energy (NYSE:NRG) last issued its earnings results on Wednesday, February 28th. The utilities provider reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.20. NRG Energy had a negative net margin of 0.70% and a positive return on equity of 44.03%. The business had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $7.51 billion. On average, analysts anticipate that NRG Energy, Inc. will post 5.36 EPS for the current year.

NRG Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a $0.4075 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.22%. NRG Energy’s dividend payout ratio (DPR) is currently -152.34%.

Analysts Set New Price Targets

A number of research analysts have issued reports on NRG shares. Wells Fargo & Company upped their target price on shares of NRG Energy from $78.00 to $85.00 and gave the company an “overweight” rating in a report on Monday, March 25th. StockNews.com raised shares of NRG Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. BMO Capital Markets increased their price target on NRG Energy from $58.00 to $59.00 and gave the stock a “market perform” rating in a research note on Thursday, February 29th. Evercore ISI lifted their price objective on NRG Energy from $55.00 to $65.00 and gave the company an “in-line” rating in a research report on Monday, March 18th. Finally, Citigroup raised their price target on NRG Energy from $52.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, NRG Energy presently has an average rating of “Hold” and a consensus target price of $59.50.

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.