Mackenzie Financial Corp Lowers Stock Position in NRG Energy, Inc. (NYSE:NRG)

Mackenzie Financial Corp cut its holdings in shares of NRG Energy, Inc. (NYSE:NRG) by 0.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 481,918 shares of the utilities provider’s stock after selling 566 shares during the period. Mackenzie Financial Corp owned 0.21% of NRG Energy worth $24,915,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. increased its holdings in shares of NRG Energy by 35.4% in the 4th 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. Point72 Hong Kong Ltd raised its holdings in NRG Energy by 2.5% in the first quarter. Point72 Hong Kong Ltd now owns 9,537 shares of the utilities provider’s stock worth $366,000 after purchasing an additional 231 shares in the last quarter. Teacher Retirement System of Texas lifted its position in shares of NRG Energy by 1.5% during the third quarter. Teacher Retirement System of Texas now owns 17,828 shares of the utilities provider’s stock valued at $687,000 after buying an additional 270 shares during the last quarter. MBM Wealth Consultants LLC boosted its holdings in shares of NRG Energy by 3.8% in the 3rd quarter. MBM Wealth Consultants LLC now owns 7,354 shares of the utilities provider’s stock valued at $302,000 after buying an additional 272 shares in the last quarter. Finally, Coldstream Capital Management Inc. grew its position in shares of NRG Energy by 4.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 6,371 shares of the utilities provider’s stock worth $245,000 after buying an additional 290 shares during the last quarter. 97.72% of the stock is owned by hedge funds and other institutional investors.

NRG Energy Stock Performance

NRG Energy stock opened at $73.42 on Thursday. The company has a fifty day simple moving average of $62.44 and a 200-day simple moving average of $52.67. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 4.49. NRG Energy, Inc. has a 52-week low of $30.52 and a 52-week high of $76.54.

NRG Energy (NYSE:NRG) last announced its quarterly earnings data on Wednesday, February 28th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.20. NRG Energy had a negative net margin of 0.70% and a positive return on equity of 44.03%. The company had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $7.51 billion. As a group, sell-side analysts predict that NRG Energy, Inc. will post 5.39 EPS for the current year.

NRG Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a $0.4075 dividend. This represents a $1.63 annualized dividend and a dividend yield of 2.22%. NRG Energy’s dividend payout ratio is presently -152.34%.

Analysts Set New Price Targets

A number of research firms recently weighed in on NRG. Morgan Stanley upped their price target on NRG Energy from $51.00 to $63.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 26th. BMO Capital Markets increased their target price on NRG Energy from $58.00 to $59.00 and gave the company a “market perform” rating in a research report on Thursday, February 29th. Citigroup boosted their price target on shares of NRG Energy from $52.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Evercore ISI increased their price objective on shares of NRG Energy from $55.00 to $65.00 and gave the company an “in-line” rating in a report on Monday, March 18th. Finally, StockNews.com raised shares of NRG Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $59.50.

Insider Buying and Selling

In other NRG Energy news, VP Rasesh M. Patel sold 49,092 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $62.59, for a total value of $3,072,668.28. Following the completion of the sale, the vice president now directly owns 356,962 shares in the company, valued at approximately $22,342,251.58. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.86% of the stock is currently owned by company insiders.

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.