Assetmark Inc. Boosts Holdings in NRG Energy, Inc. (NYSE:NRG)

Key Points

• Assetmark Inc. increased its stake in NRG Energy by 0.8%, owning approximately 0.36% of the company, worth $70.71 million at the end of the last quarter.
• NRG Energy recently announced a quarterly dividend of $0.44, which will be paid to shareholders on August 15th, reflecting an annual yield of 1.12%.
• The stock traded down 0.9% to $156.58, with recent earnings beating estimates at $2.62 EPS, and a revenue of $8.59 billion for the last quarter.

Assetmark Inc. increased its stake in NRG Energy, Inc. (NYSE:NRG - Free Report) by 0.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 740,725 shares of the utilities provider's stock after acquiring an additional 6,064 shares during the quarter. Assetmark Inc. owned 0.36% of NRG Energy worth $70,710,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Northern Trust Corp increased its stake in NRG Energy by 16.1% during the 4th quarter. Northern Trust Corp now owns 2,282,672 shares of the utilities provider's stock valued at $205,943,000 after purchasing an additional 316,445 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of NRG Energy by 4.2% in the fourth quarter. Russell Investments Group Ltd. now owns 1,414,186 shares of the utilities provider's stock valued at $127,614,000 after purchasing an additional 56,944 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in NRG Energy by 17.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,223,591 shares of the utilities provider's stock worth $110,392,000 after buying an additional 182,438 shares in the last quarter. Bridgewater Associates LP raised its position in NRG Energy by 47.3% in the 4th quarter. Bridgewater Associates LP now owns 1,185,365 shares of the utilities provider's stock valued at $106,944,000 after buying an additional 380,564 shares during the last quarter. Finally, Brandywine Global Investment Management LLC raised its position in NRG Energy by 4.7% in the 4th quarter. Brandywine Global Investment Management LLC now owns 1,120,265 shares of the utilities provider's stock valued at $101,070,000 after buying an additional 49,823 shares during the last quarter. Institutional investors own 97.72% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NRG shares. Wells Fargo & Company increased their target price on shares of NRG Energy from $165.00 to $200.00 and gave the company an "overweight" rating in a report on Tuesday, May 13th. Barclays set a $197.00 target price on shares of NRG Energy and gave the company an "overweight" rating in a report on Thursday, June 26th. BMO Capital Markets reiterated a "market perform" rating and issued a $167.00 target price (up previously from $115.00) on shares of NRG Energy in a report on Wednesday, May 14th. Guggenheim increased their target price on shares of NRG Energy from $138.00 to $173.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Finally, The Goldman Sachs Group began coverage on shares of NRG Energy in a report on Friday, April 4th. They set a "buy" rating and a $129.00 price objective for the company. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $160.30.

NRG Energy Price Performance

Shares of NRG stock traded up $1.38 during trading hours on Monday, reaching $157.97. The stock had a trading volume of 708,082 shares, compared to its average volume of 3,204,849. The stock's fifty day simple moving average is $154.71 and its 200 day simple moving average is $122.16. The company has a current ratio of 1.06, a quick ratio of 1.02 and a debt-to-equity ratio of 4.61. NRG Energy, Inc. has a 12 month low of $65.11 and a 12 month high of $168.57. The firm has a market capitalization of $30.88 billion, a PE ratio of 25.48, a PEG ratio of 1.30 and a beta of 1.13.

NRG Energy (NYSE:NRG - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The utilities provider reported $2.62 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $1.90. NRG Energy had a net margin of 4.66% and a return on equity of 73.78%. The company had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.28 billion. During the same period last year, the business earned $2.31 earnings per share. NRG Energy's revenue was up 15.6% compared to the same quarter last year. On average, equities research analysts predict that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Friday, August 1st. NRG Energy's dividend payout ratio is currently 28.39%.

Insiders Place Their Bets

In related news, Director Kevin Howell sold 50,000 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $154.50, for a total value of $7,725,000.00. Following the sale, the director directly owned 55,427 shares of the company's stock, valued at $8,563,471.50. This trade represents a 47.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.61% of the stock is owned by corporate insiders.

NRG Energy 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.