Chevy Chase Trust Holdings LLC Sells 23,203 Shares of NRG Energy, Inc. $NRG

Chevy Chase Trust Holdings LLC lowered its position in NRG Energy, Inc. (NYSE:NRG) by 15.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 128,929 shares of the utilities provider’s stock after selling 23,203 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in NRG Energy were worth $20,880,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NRG. New Wave Wealth Advisors LLC grew its stake in NRG Energy by 3.0% in the third quarter. New Wave Wealth Advisors LLC now owns 2,222 shares of the utilities provider’s stock valued at $360,000 after acquiring an additional 65 shares during the period. Catalyst Financial Partners LLC raised its position in shares of NRG Energy by 5.0% during the third quarter. Catalyst Financial Partners LLC now owns 1,410 shares of the utilities provider’s stock worth $228,000 after purchasing an additional 67 shares during the period. Golden State Equity Partners lifted its holdings in shares of NRG Energy by 4.7% during the 3rd quarter. Golden State Equity Partners now owns 1,589 shares of the utilities provider’s stock valued at $257,000 after purchasing an additional 72 shares in the last quarter. Zions Bancorporation National Association UT grew its position in shares of NRG Energy by 19.8% in the 3rd quarter. Zions Bancorporation National Association UT now owns 459 shares of the utilities provider’s stock valued at $74,000 after purchasing an additional 76 shares during the period. Finally, Optivise Advisory Services LLC increased its stake in NRG Energy by 5.1% during the 3rd quarter. Optivise Advisory Services LLC now owns 1,670 shares of the utilities provider’s stock worth $270,000 after purchasing an additional 81 shares in the last quarter. 97.72% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Bruce Chung sold 12,383 shares of NRG Energy stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $156.56, for a total value of $1,938,682.48. Following the sale, the chief financial officer owned 79,147 shares of the company’s stock, valued at approximately $12,391,254.32. The trade was a 13.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert J. Gaudette sold 45,000 shares of the company’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $158.76, for a total value of $7,144,200.00. Following the sale, the vice president owned 63,920 shares in the company, valued at $10,147,939.20. The trade was a 41.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 172,556 shares of company stock worth $27,550,446 in the last quarter. Corporate insiders own 0.61% of the company’s stock.

NRG Energy Price Performance

NYSE NRG opened at $152.66 on Tuesday. The firm’s 50 day moving average is $158.83 and its 200-day moving average is $161.89. The company has a quick ratio of 1.58, a current ratio of 1.64 and a debt-to-equity ratio of 15.92. The company has a market capitalization of $32.70 billion, a PE ratio of 38.75 and a beta of 1.26. NRG Energy, Inc. has a 12-month low of $79.57 and a 12-month high of $189.96.

NRG Energy (NYSE:NRG) last announced its earnings results on Tuesday, February 24th. The utilities provider reported $1.04 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.15). NRG Energy had a return on equity of 109.48% and a net margin of 2.81%.The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same quarter in the previous year, the company posted $1.56 EPS. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. Equities research analysts anticipate that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd were issued a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Monday, February 2nd. This is a positive change from NRG Energy’s previous quarterly dividend of $0.44. NRG Energy’s dividend payout ratio is 48.22%.

Wall Street Analysts Forecast Growth

NRG has been the topic of several research analyst reports. Morgan Stanley set a $153.00 target price on shares of NRG Energy in a report on Tuesday, February 17th. Jefferies Financial Group lowered their price objective on shares of NRG Energy from $198.00 to $181.00 and set a “buy” rating for the company in a research report on Tuesday, January 27th. UBS Group started coverage on shares of NRG Energy in a research report on Tuesday, December 9th. They issued a “buy” rating and a $211.00 price objective on the stock. The Goldman Sachs Group initiated coverage on shares of NRG Energy in a research note on Friday, March 6th. They issued a “buy” rating and a $197.00 target price for the company. Finally, Evercore initiated coverage on NRG Energy in a report on Wednesday, February 25th. They set an “outperform” rating and a $215.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, NRG Energy presently has an average rating of “Moderate Buy” and an average target price of $196.33.

About NRG Energy

NRG Energy (NYSE: NRG) is a U.S.-based integrated power company headquartered in Houston, Texas. The company develops, owns and operates a diversified portfolio of power generation assets and participates in wholesale and retail energy markets. NRG supplies electricity to utilities, commercial and industrial customers, and retail consumers, while also providing energy-related products and services designed to manage consumption and support reliability.

NRG’s generation mix includes conventional thermal plants as well as renewable and distributed energy resources.