Huntleigh Advisors Cuts Stake in NRG Energy Amid Market Shifts

Huntleigh Advisors Inc. has reduced its stake in NRG Energy, Inc. (NYSE: NRG) by 2.5% during the second quarter of 2023, as disclosed in its recent 13F filing with the U.S. Securities and Exchange Commission (SEC). Following the sale of 100 shares, the firm now holds 3,874 shares of the energy provider, which were valued at approximately $622,000 at the time of the filing.

Other institutional investors have also been active with their holdings in NRG Energy. BXM Wealth LLC established a new position in the company during the same quarter, acquiring shares valued at $245,000. Additionally, Private Trust Co. NA significantly increased its ownership by 85.0%, now holding 2,742 shares worth $440,000 after adding 1,260 shares. Nordea Investment Management AB raised its stake by 2.7% and now owns 10,736 shares valued at $1,733,000. The New York State Teachers Retirement System also boosted its holdings by 5.6%, now owning 210,922 shares worth $33.87 million after purchasing an additional 11,173 shares. In total, institutional investors and hedge funds control about 97.72% of the company’s stock.

Insider Transactions and Market Performance

In related news, NRG Energy’s Vice President, Dak Liyanearachchi, sold 10,672 shares on September 10, 2023, at an average price of $155.00, amounting to a total of $1,654,160. Following this transaction, Liyanearachchi possesses 48,571 shares valued at approximately $7.53 million, marking an 18.01% reduction in his holdings. Currently, insiders own 0.86% of NRG Energy’s stock.

As of the latest trading session, NRG Energy’s stock opened at $169.22. The company reports a debt-to-equity ratio of 5.99, a quick ratio of 0.88, and a current ratio of 0.93. The stock’s fifty-day moving average stands at $158.08, while the two-hundred-day moving average is $145.52. NRG Energy boasts a market capitalization of $32.73 billion, a price-to-earnings (P/E) ratio of 76.57, and a price-to-earnings-growth (PEG) ratio of 1.35. Over the past year, the stock reached a low of $79.57 and a high of $175.96.

Recent Financial Results and Dividend Announcement

NRG Energy’s latest earnings report, released on August 6, 2023, revealed earnings per share (EPS) of $1.68, which fell short of analysts’ expectations of $1.72 by $0.04. The company recorded a return on equity of 88.22% and a net margin of 1.78%. Revenue for the quarter amounted to $6.74 billion, surpassing analyst estimates of $6.63 billion. This represents a 1.2% increase in revenue compared to the same quarter last year, where the company reported $3.37 EPS.

Additionally, NRG Energy announced a quarterly dividend of $0.44 per share, which was paid on August 15, 2023, to shareholders on record as of August 1, 2023. This dividend translates to an annualized figure of $1.76 and a yield of 1.0%. The company’s payout ratio currently stands at 79.64%.

NRG Energy, Inc., along with its subsidiaries, operates as an energy and home services provider in the United States and Canada. It functions through various segments, including Texas, East, West/Services/Other, Vivint Smart Home, and Corporate Activities. The firm produces and sells electricity generated from coal, oil, solar, and battery storage, as well as natural gas and a cloud-based home platform that encompasses hardware, software, sales, installation, customer service, technical support, and professional monitoring solutions.