State Board of Administration of Florida Retirement System Lowers Stake in NRG Energy, Inc. (NYSE:NRG)

Posted by Defense World Staff on May 10th, 2023

State Board of Administration of Florida Retirement System lowered its stake in shares of NRG Energy, Inc. (NYSE:NRG – Get Rating) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 288,619 shares of the utilities provider’s stock after selling 9,200 shares during the period. State Board of Administration of Florida Retirement System owned 0.13% of NRG Energy worth $9,184,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Cowa LLC purchased a new stake in NRG Energy during the third quarter worth $27,000. Kistler Tiffany Companies LLC lifted its holdings in NRG Energy by 92.7% during the third quarter. Kistler Tiffany Companies LLC now owns 867 shares of the utilities provider’s stock worth $33,000 after buying an additional 417 shares during the period. MinichMacGregor Wealth Management LLC purchased a new stake in shares of NRG Energy during the 4th quarter valued at $52,000. Ronald Blue Trust Inc. lifted its holdings in shares of NRG Energy by 91.0% during the 4th quarter. Ronald Blue Trust Inc. now owns 2,049 shares of the utilities provider’s stock valued at $79,000 after purchasing an additional 976 shares during the last quarter. Finally, Atlas Capital Advisors LLC purchased a new stake in shares of NRG Energy during the 2nd quarter valued at $80,000. Hedge funds and other institutional investors own 99.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on NRG shares. TheStreet lowered NRG Energy from a “b-” rating to a “c” rating in a report on Thursday, February 16th. Morgan Stanley increased their price objective on NRG Energy from $39.00 to $40.00 and gave the company an “equal weight” rating in a report on Thursday, April 20th. Bank of America upgraded NRG Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $35.00 to $36.00 in a research note on Monday, March 20th. Finally, StockNews.com initiated coverage on NRG Energy in a research note on Thursday, March 16th. They issued a “sell” rating for the company. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $41.25.

NRG Energy Stock Down 0.0 %

NRG opened at $31.30 on Wednesday. The company has a debt-to-equity ratio of 4.66, a current ratio of 0.99 and a quick ratio of 0.92. The company’s 50 day simple moving average is $33.39 and its two-hundred day simple moving average is $35.35. NRG Energy, Inc. has a 1-year low of $30.25 and a 1-year high of $47.82.

NRG Energy (NYSE:NRG – Get Rating) last released its quarterly earnings results on Thursday, February 16th. The utilities provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.43 by $0.21. The firm had revenue of $7.86 billion for the quarter, compared to analyst estimates of $8.67 billion. NRG Energy had a negative net margin of 5.90% and a positive return on equity of 17.12%. Research analysts anticipate that NRG Energy, Inc. will post 4.59 earnings per share for the current year.

NRG Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Monday, May 1st will be given a dividend of $0.377 per share. This represents a $1.51 annualized dividend and a dividend yield of 4.82%. The ex-dividend date is Friday, April 28th. NRG Energy’s payout ratio is presently -19.04%.

NRG Energy Profile

(Get Rating)

NRG Energy, Inc engages in the production, sale, and distribution of energy and energy services. It operates through the following segments: Generation, Retail, and Corporate. The Generation segment includes all power plant activities, domestic and international, as well as renewables. The Retail segment includes mass customers and business solutions, and other distributed and reliability products.