Chapin Davis Inc. Lowers Position in NRG Energy, Inc. $NRG

Chapin Davis Inc. trimmed its position in shares of NRG Energy, Inc. (NYSE:NRG) by 90.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,366 shares of the utilities provider’s stock after selling 30,415 shares during the quarter. Chapin Davis Inc.’s holdings in NRG Energy were worth $545,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in NRG. Geode Capital Management LLC increased its position in NRG Energy by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 5,411,045 shares of the utilities provider’s stock worth $865,437,000 after purchasing an additional 39,253 shares during the period. Amundi grew its holdings in NRG Energy by 772.5% during the first quarter. Amundi now owns 4,378,022 shares of the utilities provider’s stock worth $406,342,000 after acquiring an additional 3,876,235 shares during the period. Appaloosa LP raised its position in NRG Energy by 12.9% in the first quarter. Appaloosa LP now owns 2,050,000 shares of the utilities provider’s stock worth $195,693,000 after acquiring an additional 235,000 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in NRG Energy by 33.6% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,481,120 shares of the utilities provider’s stock valued at $141,388,000 after acquiring an additional 372,618 shares during the period. Finally, Holocene Advisors LP boosted its position in shares of NRG Energy by 113.3% during the 2nd quarter. Holocene Advisors LP now owns 1,444,271 shares of the utilities provider’s stock worth $231,921,000 after purchasing an additional 767,014 shares in the last quarter. Institutional investors and hedge funds own 97.72% of the company’s stock.

NRG Energy Trading Up 3.4%

Shares of NRG Energy stock opened at $154.62 on Friday. NRG Energy, Inc. has a 1 year low of $79.57 and a 1 year high of $180.54. 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 business has a 50 day moving average price of $166.47 and a 200 day moving average price of $159.79. The company has a market capitalization of $29.63 billion, a P/E ratio of 23.11 and a beta of 1.26.

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

NRG Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 3rd were paid a $0.44 dividend. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $1.76 annualized dividend and a yield of 1.1%. NRG Energy’s payout ratio is presently 26.31%.

NRG Energy declared that its Board of Directors has initiated a stock repurchase plan on Thursday, November 6th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the utilities provider to reacquire up to 9.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

NRG has been the subject of a number of research analyst reports. Jefferies Financial Group reiterated a “buy” rating and issued a $198.00 price target on shares of NRG Energy in a report on Monday, October 20th. BMO Capital Markets upped their target price on shares of NRG Energy from $185.00 to $195.00 and gave the stock a “market perform” rating in a research report on Friday, November 7th. Morgan Stanley reiterated an “underperform” rating on shares of NRG Energy in a research report on Thursday, November 20th. Zacks Research lowered NRG Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 13th. Finally, UBS Group began coverage on NRG Energy in a research note on Tuesday, December 9th. They issued a “buy” rating and a $211.00 price objective for the company. Two equities 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $199.21.

Insider Transactions at NRG Energy

In other NRG Energy news, VP Virginia Kinney sold 20,000 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $163.82, for a total value of $3,276,400.00. Following the transaction, the vice president directly owned 43,191 shares in the company, valued at approximately $7,075,549.62. This represents a 31.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.86% of the company’s stock.

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.