Seeyond Cuts Position in NRG Energy, Inc. (NYSE:NRG)

Posted by Defense World Staff on Jun 10th, 2023

Seeyond lessened its position in shares of NRG Energy, Inc. (NYSE:NRG – Get Rating) by 92.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,364 shares of the utilities provider’s stock after selling 27,515 shares during the quarter. Seeyond’s holdings in NRG Energy were worth $75,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NRG. USS Investment Management Ltd purchased a new position in NRG Energy during the 4th quarter valued at $700,000. Dark Forest Capital Management LP purchased a new stake in shares of NRG Energy during the 4th quarter worth $37,000. ExodusPoint Capital Management LP purchased a new stake in shares of NRG Energy during the 4th quarter worth $9,177,000. Ramius Advisors LLC purchased a new stake in shares of NRG Energy during the 4th quarter worth $2,204,000. Finally, Credit Suisse AG lifted its stake in shares of NRG Energy by 46.2% during the 4th quarter. Credit Suisse AG now owns 331,633 shares of the utilities provider’s stock worth $10,553,000 after purchasing an additional 104,761 shares during the last quarter. Hedge funds and other institutional investors own 99.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Bank of America upgraded NRG Energy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $35.00 to $36.00 in a research note on Monday, March 20th. Morgan Stanley upped their target price on NRG Energy from $39.00 to $40.00 and gave the company an “equal weight” rating in a research report on Thursday, April 20th. StockNews.com assumed coverage on NRG Energy in a research report on Thursday, May 18th. They set a “sell” rating on the stock. Finally, TheStreet lowered NRG Energy from a “b-” rating to a “c” rating in a research report on Thursday, February 16th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $41.25.

NRG Energy Price Performance

Shares of NRG stock opened at $34.07 on Friday. The stock’s 50-day simple moving average is $33.76 and its 200-day simple moving average is $33.83. The company has a debt-to-equity ratio of 4.66, a current ratio of 0.99 and a quick ratio of 0.92. NRG Energy, Inc. has a fifty-two week low of $30.25 and a fifty-two week high of $45.80.

NRG Energy (NYSE:NRG – Get Rating) last announced its quarterly earnings data on Thursday, May 4th. The utilities provider reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.04). The firm had revenue of $7.72 billion during the quarter, compared to analyst estimates of $8.11 billion. NRG Energy had a negative net margin of 5.90% and a positive return on equity of 17.12%. On average, analysts forecast that NRG Energy, Inc. will post 4.55 EPS for the current year.

NRG Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Monday, May 1st were issued a dividend of $0.377 per share. This represents a $1.51 annualized dividend and a yield of 4.43%. The ex-dividend date was Friday, April 28th. NRG Energy’s dividend payout ratio (DPR) is -19.04%.

NRG Energy Company Profile

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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.