Carret Asset Management LLC Has $720,000 Position in NRG Energy, Inc. (NYSE:NRG)

Carret Asset Management LLC lessened its holdings in NRG Energy, Inc. (NYSE:NRG) by 4.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,899 shares of the utilities provider’s stock after selling 351 shares during the quarter. Carret Asset Management LLC’s holdings in NRG Energy were worth $720,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rothschild Investment LLC bought a new position in shares of NRG Energy during the 2nd quarter worth approximately $32,000. First Horizon Advisors Inc. raised its stake in NRG Energy by 76.1% during the second quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 191 shares in the last quarter. Crewe Advisors LLC bought a new position in shares of NRG Energy during the first quarter valued at $36,000. Innealta Capital LLC acquired a new stake in shares of NRG Energy in the 2nd quarter valued at $36,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of NRG Energy in the 3rd quarter worth about $36,000. Institutional investors own 97.72% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on NRG. BMO Capital Markets boosted their price target on shares of NRG Energy from $88.00 to $90.00 and gave the company a “market perform” rating in a research report on Monday, September 30th. StockNews.com downgraded NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Guggenheim raised their price target on NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Jefferies Financial Group began coverage on NRG Energy in a research note on Friday, September 13th. They issued a “hold” rating and a $82.00 price objective on the stock. Finally, Wells Fargo & Company increased their target price on NRG Energy from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, NRG Energy currently has a consensus rating of “Hold” and a consensus target price of $83.25.

NRG Energy Stock Down 2.0 %

Shares of NRG opened at $87.53 on Monday. The business’s fifty day moving average price is $85.63 and its two-hundred day moving average price is $80.54. The firm has a market capitalization of $18.25 billion, a price-to-earnings ratio of 12.40 and a beta of 1.10. NRG Energy, Inc. has a 52 week low of $41.49 and a 52 week high of $96.40. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.11 and a current ratio of 1.18.

NRG Energy (NYSE:NRG) last issued its earnings results on Thursday, August 8th. The utilities provider reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $1.82. The company had revenue of $6.66 billion for the quarter, compared to analyst estimates of $8.32 billion. NRG Energy had a net margin of 7.19% and a return on equity of 43.69%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.10 EPS. On average, analysts predict that NRG Energy, Inc. will post 5.51 earnings per share for the current year.

NRG Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a dividend of $0.4075 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.63 dividend on an annualized basis and a dividend yield of 1.86%. NRG Energy’s dividend payout ratio is 23.09%.

Insider Activity at NRG Energy

In other NRG Energy news, insider Rasesh M. Patel sold 102,603 shares of NRG Energy stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $80.35, for a total transaction of $8,244,151.05. Following the transaction, the insider now directly owns 163,680 shares in the company, valued at approximately $13,151,688. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.86% of the stock is owned by corporate insiders.

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.