Seascape Capital Management Sells 302 Shares of NRG Energy, Inc. (NYSE:NRG)

Seascape Capital Management reduced its position in shares of NRG Energy, Inc. (NYSE:NRG) by 0.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,521 shares of the utilities provider’s stock after selling 302 shares during the period. NRG Energy makes up approximately 2.3% of Seascape Capital Management’s investment portfolio, making the stock its 10th biggest position. Seascape Capital Management’s holdings in NRG Energy were worth $6,333,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. acquired a new position in NRG Energy during the 3rd quarter worth approximately $35,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of NRG Energy during the third quarter worth $36,000. Rothschild Investment LLC bought a new position in shares of NRG Energy in the 2nd quarter valued at $32,000. First Horizon Advisors Inc. boosted its holdings in shares of NRG Energy by 76.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 191 shares in the last quarter. Finally, Innealta Capital LLC bought a new stake in NRG Energy during the 2nd quarter worth $36,000. 97.72% of the stock is currently owned by institutional investors.

NRG Energy Stock Down 0.4 %

Shares of NYSE:NRG opened at $95.99 on Friday. NRG Energy, Inc. has a 1 year low of $44.90 and a 1 year high of $102.84. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.18 and a quick ratio of 1.11. The business’s 50-day moving average is $87.21 and its 200-day moving average is $81.68. The company has a market capitalization of $19.81 billion, a price-to-earnings ratio of 10.46, a P/E/G ratio of 1.36 and a beta of 1.10.

NRG Energy (NYSE:NRG) last posted its quarterly earnings results on Thursday, August 8th. The utilities provider reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $1.82. The firm had revenue of $6.66 billion for the quarter, compared to analysts’ expectations of $8.32 billion. NRG Energy had a return on equity of 43.69% and a net margin of 7.19%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.10 EPS. Equities research analysts predict that NRG Energy, Inc. will post 6.29 earnings per share for the current year.

NRG Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a dividend of $0.4075 per share. The ex-dividend date is Friday, November 1st. This represents a $1.63 dividend on an annualized basis and a dividend yield of 1.70%. NRG Energy’s dividend payout ratio (DPR) is presently 17.76%.

Analyst Ratings Changes

Several analysts have recently weighed in on NRG shares. StockNews.com cut NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Citigroup upped their price target on shares of NRG Energy from $84.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Wells Fargo & Company lifted their price target on shares of NRG Energy from $120.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Guggenheim increased their price objective on NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Jefferies Financial Group assumed coverage on NRG Energy in a report on Friday, September 13th. They set a “hold” rating and a $82.00 target price on the stock. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $96.00.

Insider Buying and Selling at NRG Energy

In related news, insider Rasesh M. Patel sold 102,603 shares of NRG Energy stock in a transaction on Friday, September 13th. The shares were sold at an average price of $80.35, for a total value of $8,244,151.05. Following the completion of the sale, the insider now owns 163,680 shares of the company’s stock, valued at approximately $13,151,688. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.86% of the company’s stock.

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.