Seven Eight Capital LP Has $3.32 Million Holdings in NRG Energy, Inc. (NYSE:NRG)

Seven Eight Capital LP trimmed its stake in shares of NRG Energy, Inc. (NYSE:NRG) by 56.2% in the second quarter, Holdings Channel.com reports. The firm owned 42,617 shares of the utilities provider’s stock after selling 54,618 shares during the quarter. Seven Eight Capital LP’s holdings in NRG Energy were worth $3,318,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Private Advisor Group LLC acquired a new stake in NRG Energy during the 4th quarter worth approximately $238,000. Janney Montgomery Scott LLC lifted its stake in shares of NRG Energy by 55.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 9,475 shares of the utilities provider’s stock worth $490,000 after acquiring an additional 3,374 shares during the period. Quadrant Capital Group LLC boosted its holdings in NRG Energy by 37.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,524 shares of the utilities provider’s stock valued at $79,000 after acquiring an additional 412 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in shares of NRG Energy in the 4th quarter valued at $51,000. Finally, ING Groep NV raised its stake in NRG Energy by 80,225.0% during the fourth quarter. ING Groep NV now owns 51,408 shares of the utilities provider’s stock worth $2,658,000 after buying an additional 51,344 shares during the last quarter. Institutional investors own 97.72% of the company’s stock.

Analysts Set New Price Targets

NRG has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on NRG Energy from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. Jefferies Financial Group started coverage on NRG Energy in a research note on Friday, September 13th. They set a “hold” rating and a $82.00 price target on the stock. Morgan Stanley boosted their price objective on NRG Energy from $70.00 to $83.00 and gave the company an “equal weight” rating in a report on Tuesday, May 28th. Finally, StockNews.com lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $73.75.

Insider Transactions at NRG Energy

In other NRG Energy news, insider Rasesh M. Patel sold 102,603 shares of the stock in a transaction dated 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 owns 163,680 shares in the company, valued at $13,151,688. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.86% of the stock is owned by corporate insiders.

NRG Energy Stock Performance

Shares of NRG opened at $81.32 on Wednesday. The company has a market capitalization of $16.95 billion, a price-to-earnings ratio of 11.52 and a beta of 1.10. The company has a current ratio of 1.18, a quick ratio of 1.11 and a debt-to-equity ratio of 3.51. The stock has a 50 day moving average of $78.31 and a 200 day moving average of $75.85. NRG Energy, Inc. has a 12 month low of $36.61 and a 12 month high of $87.58.

NRG Energy (NYSE:NRG) last posted its quarterly earnings results on Thursday, August 8th. The utilities provider reported $3.37 earnings per share for the quarter, beating the consensus estimate of $1.55 by $1.82. The company had revenue of $6.66 billion during the quarter, compared to analyst estimates of $8.32 billion. NRG Energy had a net margin of 7.19% and a return on equity of 43.69%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.10 earnings per share. As a group, sell-side analysts forecast that NRG Energy, Inc. will post 4.45 earnings per share for the current year.

NRG Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were given a dividend of $0.4075 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.00%. NRG Energy’s dividend payout ratio is presently 23.09%.

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.