Kentucky Retirement Systems Insurance Trust Fund Sells 593 Shares of NRG Energy, Inc. (NYSE:NRG)

Kentucky Retirement Systems Insurance Trust Fund trimmed its stake in shares of NRG Energy, Inc. (NYSE:NRG) by 7.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,450 shares of the utilities provider’s stock after selling 593 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in NRG Energy were worth $504,000 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. LifeSteps Financial Inc. bought a new stake in shares of NRG Energy in the first quarter valued at about $31,000. Mather Group LLC. bought a new stake in shares of NRG Energy in the first quarter valued at about $33,000. Crewe Advisors LLC bought a new stake in shares of NRG Energy in the first quarter valued at about $36,000. CENTRAL TRUST Co boosted its position in shares of NRG Energy by 1,005.5% in the fourth quarter. CENTRAL TRUST Co now owns 807 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 734 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of NRG Energy by 35.4% in the fourth quarter. Blue Trust Inc. now owns 865 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 226 shares during the period. 97.72% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Rasesh M. Patel sold 24,546 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $83.41, for a total value of $2,047,381.86. Following the completion of the transaction, the insider now owns 266,064 shares of the company’s stock, valued at $22,192,398.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.86% of the stock is currently owned by insiders.

NRG Energy Price Performance

NYSE NRG traded up $0.82 during trading on Monday, hitting $74.53. 438,111 shares of the company’s stock were exchanged, compared to its average volume of 3,546,740. The company has a current ratio of 1.01, a quick ratio of 0.95 and a debt-to-equity ratio of 3.61. The company has a market cap of $15.54 billion, a PE ratio of 10.55 and a beta of 1.08. NRG Energy, Inc. has a fifty-two week low of $35.97 and a fifty-two week high of $87.58. The stock’s 50 day moving average price is $79.18 and its two-hundred day moving average price is $69.11.

NRG Energy (NYSE:NRG) last issued its earnings results on Tuesday, May 7th. The utilities provider reported $0.80 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.12). The business had revenue of $7.43 billion for the quarter. NRG Energy had a return on equity of 42.60% and a net margin of 5.76%. Research analysts expect that NRG Energy, Inc. will post 4.47 EPS for the current year.

NRG Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be paid a $0.4075 dividend. This represents a $1.63 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Thursday, August 1st. NRG Energy’s dividend payout ratio is currently 23.09%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NRG. Morgan Stanley boosted their target price on shares of NRG Energy from $70.00 to $83.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 28th. Wells Fargo & Company boosted their price target on NRG Energy from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, May 15th. Finally, BMO Capital Markets boosted their price target on NRG Energy from $73.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday, May 8th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, NRG Energy currently has an average rating of “Hold” and a consensus price target of $71.14.

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.