Byrne Asset Management LLC Sells 1,515 Shares of NRG Energy, Inc. $NRG

Byrne Asset Management LLC lessened its holdings in NRG Energy, Inc. (NYSE:NRG) by 11.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,877 shares of the utilities provider’s stock after selling 1,515 shares during the quarter. NRG Energy accounts for 1.3% of Byrne Asset Management LLC’s investment portfolio, making the stock its 17th largest position. Byrne Asset Management LLC’s holdings in NRG Energy were worth $1,907,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of NRG. Zions Bancorporation National Association UT bought a new position in NRG Energy in the 1st quarter valued at $28,000. Key Financial Inc bought a new position in NRG Energy in the 1st quarter valued at $30,000. Evermay Wealth Management LLC bought a new position in NRG Energy in the 1st quarter valued at $36,000. Park Square Financial Group LLC bought a new position in shares of NRG Energy during the 4th quarter worth $53,000. Finally, UMB Bank n.a. grew its stake in shares of NRG Energy by 44.0% during the 1st quarter. UMB Bank n.a. now owns 655 shares of the utilities provider’s stock worth $63,000 after acquiring an additional 200 shares during the period. Institutional investors own 97.72% of the company’s stock.

NRG Energy Stock Performance

Shares of NYSE NRG opened at $166.16 on Tuesday. The stock has a market cap of $32.14 billion, a price-to-earnings ratio of 75.19, a P/E/G ratio of 1.34 and a beta of 1.17. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 5.99. NRG Energy, Inc. has a 1-year low of $79.57 and a 1-year high of $175.96. The stock’s 50-day moving average is $153.38 and its 200 day moving average is $134.44.

NRG Energy (NYSE:NRG) last announced its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $1.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.04). The firm had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.63 billion. NRG Energy had a net margin of 1.78% and a return on equity of 88.22%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the business posted $3.37 earnings per share. On average, 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 disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 1st. NRG Energy’s dividend payout ratio (DPR) is currently 79.64%.

Insider Transactions at NRG Energy

In related news, VP Dak Liyanearachchi sold 10,672 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $155.00, for a total transaction of $1,654,160.00. Following the transaction, the vice president directly owned 48,571 shares in the company, valued at $7,528,505. This trade represents a 18.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.86% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on NRG shares. Raymond James Financial started coverage on NRG Energy in a research note on Friday, June 13th. They set a “strong-buy” rating and a $195.00 price target for the company. Melius Research started coverage on NRG Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $308.00 price target for the company. Melius started coverage on NRG Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $308.00 price target for the company. Barclays increased their price target on NRG Energy from $197.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Finally, BMO Capital Markets increased their price target on NRG Energy from $167.00 to $185.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, NRG Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.92.

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.