Pinnacle Wealth Planning Services Inc. Sells 625 Shares of NRG Energy, Inc. $NRG

Pinnacle Wealth Planning Services Inc. cut its stake in NRG Energy, Inc. (NYSE:NRG) by 25.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,819 shares of the utilities provider’s stock after selling 625 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in NRG Energy were worth $292,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of NRG. Nomura Asset Management Co. Ltd. raised its stake in NRG Energy by 6.7% during the second quarter. Nomura Asset Management Co. Ltd. now owns 66,808 shares of the utilities provider’s stock worth $10,728,000 after acquiring an additional 4,166 shares in the last quarter. PAX Financial Group LLC acquired a new stake in shares of NRG Energy in the 2nd quarter valued at $445,000. ANB Bank bought a new stake in shares of NRG Energy in the 2nd quarter worth about $305,000. Rockefeller Capital Management L.P. increased its position in shares of NRG Energy by 43.9% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 108,397 shares of the utilities provider’s stock worth $17,407,000 after purchasing an additional 33,091 shares in the last quarter. Finally, Kingsview Wealth Management LLC bought a new position in NRG Energy during the 2nd quarter valued at about $205,000. Institutional investors and hedge funds own 97.72% of the company’s stock.

Insider Activity at NRG Energy

In other news, VP Dak Liyanearachchi sold 10,672 shares of NRG Energy stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $155.00, for a total value of $1,654,160.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Virginia Kinney sold 20,000 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $163.82, for a total transaction of $3,276,400.00. Following the sale, the vice president directly owned 43,191 shares in the company, valued at $7,075,549.62. This trade represents a 31.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NRG. Zacks Research cut shares of NRG Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 13th. Morgan Stanley decreased their price target on NRG Energy from $145.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 28th. Jefferies Financial Group reaffirmed a “buy” rating and set a $198.00 price target on shares of NRG Energy in a report on Monday, October 20th. Melius began coverage on NRG Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $308.00 price objective on the stock. Finally, Wells Fargo & Company upgraded NRG Energy to a “strong-buy” rating in a report on Tuesday, October 28th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $198.31.

NRG Energy Stock Performance

NRG stock opened at $168.76 on Thursday. NRG Energy, Inc. has a twelve month low of $79.57 and a twelve month high of $180.54. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 5.99. The company has a market cap of $32.34 billion, a P/E ratio of 76.36 and a beta of 1.16. The business’s fifty day moving average is $167.01 and its 200-day moving average is $157.37.

NRG Energy (NYSE:NRG) last issued its quarterly earnings data on Thursday, November 6th. The utilities provider reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.85. The firm had revenue of $7.64 billion during the quarter, compared to analysts’ expectations of $7.53 billion. NRG Energy had a net margin of 1.78% and a return on equity of 88.22%. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.90 earnings per share. Equities research analysts forecast that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy declared that its Board of Directors has approved a share repurchase plan on Thursday, November 6th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the utilities provider to purchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

NRG Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 3rd were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Monday, November 3rd. NRG Energy’s dividend payout ratio (DPR) is currently 26.31%.

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.