New York State Teachers Retirement System Lowers Position in NRG Energy, Inc. (NYSE:NRG)

New York State Teachers Retirement System trimmed its position in NRG Energy, Inc. (NYSE:NRG) by 8.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 226,658 shares of the utilities provider’s stock after selling 20,567 shares during the quarter. New York State Teachers Retirement System owned about 0.11% of NRG Energy worth $20,649,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its position in NRG Energy by 4.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 31,040 shares of the utilities provider’s stock worth $2,101,000 after buying an additional 1,383 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of NRG Energy by 885.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 237,444 shares of the utilities provider’s stock worth $16,073,000 after acquiring an additional 213,347 shares during the last quarter. First Trust Direct Indexing L.P. boosted its stake in shares of NRG Energy by 2.8% during the 1st quarter. First Trust Direct Indexing L.P. now owns 5,813 shares of the utilities provider’s stock worth $393,000 after purchasing an additional 161 shares during the period. J.W. Cole Advisors Inc. bought a new position in NRG Energy during the 1st quarter valued at about $352,000. Finally, Fidelis Capital Partners LLC purchased a new stake in NRG Energy in the 1st quarter worth about $140,000. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Citigroup upped their target price on NRG Energy from $84.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday. StockNews.com lowered NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. BMO Capital Markets boosted their target price on shares of NRG Energy from $90.00 to $94.00 and gave the company a “market perform” rating in a research note on Tuesday. Jefferies Financial Group started coverage on shares of NRG Energy in a research note on Friday, September 13th. They issued a “hold” rating and a $82.00 price target on the stock. Finally, Wells Fargo & Company boosted their price objective on shares of NRG Energy from $120.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, NRG Energy presently has a consensus rating of “Hold” and a consensus price target of $89.75.

NRG Energy Stock Performance

Shares of NRG stock opened at $86.72 on Friday. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.18 and a quick ratio of 1.11. The business has a fifty day moving average of $86.24 and a 200 day moving average of $80.95. The firm has a market capitalization of $17.90 billion, a price-to-earnings ratio of 9.45 and a beta of 1.10. NRG Energy, Inc. has a 1 year low of $41.73 and a 1 year high of $96.40.

NRG Energy (NYSE:NRG) last released its earnings results on Thursday, August 8th. The utilities provider reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $1.82. NRG Energy had a return on equity of 43.69% and a net margin of 7.19%. The firm had revenue of $6.66 billion during the quarter, compared to the consensus estimate of $8.32 billion. During the same quarter in the previous year, the company posted $1.10 earnings per share. The company’s revenue was up 4.9% compared to the same quarter last year. As a group, research analysts expect that NRG Energy, Inc. will post 6.09 earnings per share for the current year.

NRG Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a $0.4075 dividend. This represents a $1.63 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend is Friday, November 1st. NRG Energy’s dividend payout ratio (DPR) is currently 17.76%.

Insider Transactions at NRG Energy

In related news, insider Rasesh M. Patel sold 102,603 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $80.35, for a total transaction of $8,244,151.05. Following the completion of the transaction, the insider now directly owns 163,680 shares in the company, valued at $13,151,688. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.86% of the company’s stock.

About NRG Energy

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.