Barings LLC Reduces Position in NRG Energy Inc (NRG)

Barings LLC lowered its stake in shares of NRG Energy Inc (NYSE:NRG) by 44.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,220 shares of the utilities provider’s stock after selling 10,600 shares during the quarter. Barings LLC’s holdings in NRG Energy were worth $494,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. increased its position in NRG Energy by 3.4% during the second quarter. BlackRock Inc. now owns 18,688,257 shares of the utilities provider’s stock worth $573,731,000 after acquiring an additional 613,979 shares during the period. Janus Henderson Group PLC increased its position in NRG Energy by 1.2% during the second quarter. Janus Henderson Group PLC now owns 10,001,330 shares of the utilities provider’s stock worth $307,041,000 after acquiring an additional 120,835 shares during the period. Putnam Investments LLC increased its position in NRG Energy by 7.0% during the second quarter. Putnam Investments LLC now owns 7,079,811 shares of the utilities provider’s stock worth $217,350,000 after acquiring an additional 461,184 shares during the period. Massachusetts Financial Services Co. MA increased its position in NRG Energy by 33.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 6,946,617 shares of the utilities provider’s stock worth $259,803,000 after acquiring an additional 1,748,586 shares during the period. Finally, Millennium Management LLC increased its position in NRG Energy by 1.7% during the second quarter. Millennium Management LLC now owns 6,217,762 shares of the utilities provider’s stock worth $190,885,000 after acquiring an additional 102,328 shares during the period. 98.34% of the stock is currently owned by institutional investors and hedge funds.

In other news, SVP David Callen sold 9,200 shares of the business’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $33.21, for a total value of $305,532.00. Following the sale, the senior vice president now owns 39,759 shares in the company, valued at approximately $1,320,396.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christopher Moser sold 15,200 shares of the business’s stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $35.14, for a total transaction of $534,128.00. Following the completion of the sale, the executive vice president now owns 115,650 shares in the company, valued at approximately $4,063,941. The disclosure for this sale can be found here. Insiders sold a total of 92,975 shares of company stock worth $3,265,286 in the last three months. Insiders own 0.38% of the company’s stock.

Shares of NRG Energy stock opened at $37.42 on Friday. The firm has a market capitalization of $11.35 billion, a price-to-earnings ratio of 16.27 and a beta of 0.99. The company has a debt-to-equity ratio of 7.16, a quick ratio of 1.17 and a current ratio of 1.30. NRG Energy Inc has a 52-week low of $23.75 and a 52-week high of $38.25.

NRG Energy (NYSE:NRG) last announced its quarterly earnings results on Thursday, August 2nd. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.55). The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.72 billion. NRG Energy had a negative net margin of 9.30% and a positive return on equity of 29.44%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the firm earned $0.36 EPS. Analysts expect that NRG Energy Inc will post 2.5 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend is Wednesday, October 31st. NRG Energy’s dividend payout ratio (DPR) is presently 11.01%.

NRG has been the topic of a number of research reports. Zacks Investment Research lowered shares of NRG Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 18th. ValuEngine raised shares of NRG Energy from a “hold” rating to a “buy” rating in a report on Saturday, October 6th. Bank of America boosted their price target on shares of NRG Energy from $40.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, September 27th. Macquarie boosted their price target on shares of NRG Energy from $40.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, September 20th. Finally, Citigroup lowered shares of NRG Energy from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a report on Monday, July 30th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. NRG Energy has an average rating of “Buy” and an average target price of $38.17.

About NRG Energy

NRG Energy, Inc, together with its subsidiaries, operates as an integrated power company in the United States. The company is involved in the generation of electricity using fossil fuel and nuclear sources. The company provides electricity to 2.9 million residential, commercial, and industrial consumers; system power, distributed generation, solar and wind products, backup generation, storage and distributed solar, demand response, energy efficiency, and on-site energy solutions; and carbon management and specialty services.

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

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