Horizon Investment Services LLC Decreases Stock Holdings in NRG Energy, Inc. $NRG

Horizon Investment Services LLC lowered its holdings in shares of NRG Energy, Inc. (NYSE:NRG) by 73.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,319 shares of the utilities provider’s stock after selling 3,581 shares during the quarter. Horizon Investment Services LLC’s holdings in NRG Energy were worth $214,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Quent Capital LLC bought a new position in NRG Energy during the 3rd quarter valued at about $25,000. Bank of Jackson Hole Trust purchased a new position in shares of NRG Energy during the second quarter valued at approximately $28,000. Atlantic Union Bankshares Corp grew its stake in shares of NRG Energy by 90.4% during the third quarter. Atlantic Union Bankshares Corp now owns 179 shares of the utilities provider’s stock valued at $29,000 after buying an additional 85 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new position in NRG Energy during the 2nd quarter valued at $32,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in NRG Energy in the second quarter worth $35,000. Institutional investors own 97.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of NRG Energy in a research note on Monday, December 29th. Zacks Research lowered NRG Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Wells Fargo & Company increased their price target on NRG Energy from $202.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. 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 report on Friday, November 7th. Finally, Jefferies Financial Group dropped their target price on shares of NRG Energy from $198.00 to $181.00 and set a “buy” rating on the stock in a report on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, NRG Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $184.91.

Insider Activity at NRG Energy

In other news, VP Brian Curci sold 46,976 shares of the stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $158.84, for a total value of $7,461,667.84. Following the completion of the sale, the vice president directly owned 46,113 shares in the company, valued at $7,324,588.92. This represents a 50.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Robert J. Gaudette sold 45,000 shares of the company’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $158.76, for a total value of $7,144,200.00. Following the completion of the sale, the vice president owned 63,920 shares of the company’s stock, valued at approximately $10,147,939.20. The trade was a 41.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 192,556 shares of company stock worth $30,826,846 over the last three months. Company insiders own 0.86% of the company’s stock.

NRG Energy Trading Down 5.2%

Shares of NRG Energy stock opened at $144.20 on Thursday. The firm’s 50 day simple moving average is $157.27 and its two-hundred day simple moving average is $159.91. The firm has a market capitalization of $30.96 billion, a price-to-earnings ratio of 21.55 and a beta of 1.27. NRG Energy, Inc. has a 12-month low of $79.57 and a 12-month high of $180.54. The company has a current ratio of 1.05, a quick ratio of 0.99 and a debt-to-equity ratio of 8.45.

NRG Energy (NYSE:NRG) last announced its quarterly earnings data on Thursday, November 6th. The utilities provider reported $2.78 EPS for the quarter, beating the consensus estimate of $1.93 by $0.85. The business had revenue of $7.64 billion during 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 business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.90 EPS. Analysts predict that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Monday, February 2nd will be paid a $0.475 dividend. The ex-dividend date of this dividend is Monday, February 2nd. This represents a $1.90 dividend on an annualized basis and a yield of 1.3%. This is an increase from NRG Energy’s previous quarterly dividend of $0.44. NRG Energy’s dividend payout ratio is 28.40%.

NRG Energy announced that its Board of Directors has approved a stock buyback program on Thursday, November 6th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the utilities provider to purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.