Alaska Permanent Fund Corp Cuts Stock Holdings in NRG Energy, Inc. (NYSE:NRG)

Alaska Permanent Fund Corp decreased its holdings in shares of NRG Energy, Inc. (NYSE:NRG) by 3.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 66,062 shares of the utilities provider’s stock after selling 2,338 shares during the period. Alaska Permanent Fund Corp’s holdings in NRG Energy were worth $3,415,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James & Associates grew its position in shares of NRG Energy by 81.1% in the 4th quarter. Raymond James & Associates now owns 305,917 shares of the utilities provider’s stock worth $15,816,000 after buying an additional 136,968 shares during the last quarter. Friedenthal Financial purchased a new position in shares of NRG Energy in the 4th quarter worth approximately $743,000. Wellington Management Group LLP grew its position in shares of NRG Energy by 486.2% in the 3rd quarter. Wellington Management Group LLP now owns 900,526 shares of the utilities provider’s stock worth $34,688,000 after buying an additional 746,899 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of NRG Energy by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,729,390 shares of the utilities provider’s stock worth $220,696,000 after buying an additional 156,974 shares during the last quarter. Finally, Covalis Capital LLP grew its position in shares of NRG Energy by 23.5% in the 3rd quarter. Covalis Capital LLP now owns 506,554 shares of the utilities provider’s stock worth $19,512,000 after buying an additional 96,386 shares during the last quarter. Hedge funds and other institutional investors own 97.72% of the company’s stock.

Insider Activity

In related news, VP Rasesh M. Patel sold 49,092 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $62.59, for a total transaction of $3,072,668.28. Following the sale, the vice president now directly owns 356,962 shares of the company’s stock, valued at approximately $22,342,251.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on NRG. BMO Capital Markets lifted their target price on shares of NRG Energy from $58.00 to $59.00 and gave the stock a “market perform” rating in a research note on Thursday, February 29th. Citigroup boosted their price target on shares of NRG Energy from $52.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Wells Fargo & Company upped their target price on shares of NRG Energy from $78.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, March 25th. TheStreet raised shares of NRG Energy from a “c+” rating to a “b” rating in a report on Friday, December 29th. Finally, StockNews.com upgraded shares of NRG Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, NRG Energy currently has an average rating of “Hold” and an average price target of $59.50.

NRG Energy Price Performance

Shares of NRG Energy stock traded up $1.12 on Wednesday, hitting $72.61. The company’s stock had a trading volume of 2,830,200 shares, compared to its average volume of 3,670,323. NRG Energy, Inc. has a 52-week low of $30.52 and a 52-week high of $76.54. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 4.49. The firm has a fifty day moving average price of $63.92 and a 200-day moving average price of $53.69. The company has a market capitalization of $15.59 billion, a P/E ratio of -66.81 and a beta of 1.13.

NRG Energy (NYSE:NRG) last posted its quarterly earnings data 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 company had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $7.51 billion. On average, equities research analysts expect that NRG Energy, Inc. will post 5.36 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 Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Tuesday, April 30th. NRG Energy’s dividend payout ratio is presently -152.34%.

NRG Energy Company 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.