Huntleigh Advisors Reduces Stake in NRG Energy, Institutional Moves Shift Market

Huntleigh Advisors Inc. has decreased its holdings in NRG Energy, Inc. (NYSE:NRG) by 2.5% during the second quarter of 2023, according to a recent 13F filing with the U.S. Securities and Exchange Commission (SEC). Following the sale of 100 shares, the firm now owns 3,874 shares of the utilities provider, valued at approximately $622,000.

Several other institutional investors have also made adjustments to their stakes in NRG Energy. For instance, BXM Wealth LLC entered a new position in the company, investing $245,000 during the same period. Additionally, Private Trust Co. NA significantly increased its holdings by 85%, now owning 2,742 shares valued at $440,000 after purchasing 1,260 shares. Nordea Investment Management AB raised its stake by 2.7%, bringing its total to 10,736 shares worth $1,733,000. The New York State Teachers Retirement System also boosted its holdings by 5.6%, now owning 210,922 shares valued at $33.87 million.

As of the latest reports, institutional investors and hedge funds own approximately 97.72% of NRG Energy’s stock, indicating a significant level of institutional interest in the company.

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 $1.65 million. Following this transaction, Liyanearachchi holds 48,571 shares valued at approximately $7.53 million, marking an 18.01% decrease in his position. Insiders currently own 0.86% of the company’s stock.

The stock of NRG Energy opened at $169.22 on September 15, 2023. The company has a debt-to-equity ratio of 5.99, and its quick and current ratios stand at 0.88 and 0.93, respectively. The firm’s market capitalization is approximately $32.73 billion. NRG Energy’s fifty-day moving average is $158.08, while the two-hundred-day moving average is $145.52. Over the past year, the stock has fluctuated between a low of $79.57 and a high of $175.96.

Recent Earnings and Dividend Announcement

On August 6, 2023, NRG Energy reported its latest earnings, revealing an earnings per share (EPS) of $1.68, which fell short of analysts’ expectations of $1.72 by $0.04. The company achieved a return on equity of 88.22% and a net margin of 1.78%. Revenue for the quarter reached $6.74 billion, surpassing the anticipated $6.63 billion. This represents a 1.2% increase compared to the same period last year, during which the company reported an EPS of $3.37.

Additionally, NRG Energy declared a quarterly dividend of $0.44, which was paid on August 15, 2023, to shareholders of record as of August 1, 2023. This annualized dividend totals $1.76, resulting in a yield of 1.0%. The ex-dividend date was also August 1, 2023, and the company’s payout ratio currently stands at 79.64%.

NRG Energy operates as an energy and home services provider in the United States and Canada, generating electricity from various sources including coal, oil, solar, and natural gas. The company also offers a cloud-based home platform that includes hardware, software, and professional monitoring solutions. As institutional investment continues to shape the company’s market dynamics, stakeholders will be closely watching NRG Energy’s performance in the coming quarters.