Atria Wealth Solutions Inc. Grows Stock Position in NRG Energy, Inc. (NYSE:NRG)

Key Points

• Atria Wealth Solutions Inc. increased its stake in NRG Energy by 68.8%, owning 21,220 shares valued at approximately $2,026,000 following the purchase of additional shares in the 1st quarter.
• Several institutional investors have also boosted their positions in NRG Energy, with Envestnet Asset Management Inc. leading the charge by increasing their shares by 99.2% during the same period.
• Analysts updated their price objectives for NRG Energy, with Citigroup increasing theirs from $133.00 to $185.00, reflecting a consensus rating of "Moderate Buy" and an average price target of $162.70.

Atria Wealth Solutions Inc. increased its holdings in NRG Energy, Inc. (NYSE:NRG - Free Report) by 68.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,220 shares of the utilities provider's stock after buying an additional 8,646 shares during the period. Atria Wealth Solutions Inc.'s holdings in NRG Energy were worth $2,026,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. GW&K Investment Management LLC boosted its position in shares of NRG Energy by 23.8% in the 1st quarter. GW&K Investment Management LLC now owns 672 shares of the utilities provider's stock worth $64,000 after buying an additional 129 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of NRG Energy by 99.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 413,911 shares of the utilities provider's stock worth $39,512,000 after buying an additional 206,096 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in shares of NRG Energy by 54.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 6,215 shares of the utilities provider's stock worth $593,000 after buying an additional 2,190 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of NRG Energy by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 23,728 shares of the utilities provider's stock worth $2,265,000 after buying an additional 630 shares in the last quarter. Finally, Graham Capital Management L.P. acquired a new stake in shares of NRG Energy during the fourth quarter valued at $276,000. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Citigroup increased their price objective on NRG Energy from $133.00 to $185.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Jefferies Financial Group increased their price objective on NRG Energy from $113.00 to $132.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Guggenheim increased their price objective on NRG Energy from $138.00 to $173.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Raymond James Financial assumed coverage on NRG Energy in a research note on Friday, June 13th. They set a "strong-buy" rating and a $195.00 price objective on the stock. Finally, Barclays increased their price objective on NRG Energy from $197.00 to $203.00 and gave the company an "overweight" rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, NRG Energy presently has a consensus rating of "Moderate Buy" and an average price target of $162.70.

Insider Buying and Selling at NRG Energy

In other news, Director Kevin Howell sold 50,000 shares of NRG Energy stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $154.50, for a total value of $7,725,000.00. Following the transaction, the director directly owned 55,427 shares of the company's stock, valued at $8,563,471.50. The trade was a 47.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.86% of the stock is owned by corporate insiders.

NRG Energy Stock Performance

NYSE NRG opened at $152.72 on Friday. The business's 50-day moving average price is $155.73 and its 200 day moving average price is $126.06. NRG Energy, Inc. has a twelve month low of $76.13 and a twelve month high of $175.96. The company has a market capitalization of $29.54 billion, a PE ratio of 69.10, a price-to-earnings-growth ratio of 1.27 and a beta of 1.14. The company has a current ratio of 0.93, a quick ratio of 1.02 and a debt-to-equity ratio of 5.99.

NRG Energy (NYSE:NRG - Get Free Report) last released its earnings results on Wednesday, August 6th. The utilities provider reported $1.68 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.04). NRG Energy had a return on equity of 88.22% and a net margin of 1.78%. The business had revenue of $6.74 billion for the quarter, compared to analysts' expectations of $6.63 billion. During the same quarter last year, the company posted $3.37 earnings per share. The business's quarterly revenue was up 1.2% compared to the same quarter last year. On average, research analysts predict that NRG Energy, Inc. will post 6.36 earnings per share for the current year.

NRG Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, August 1st. NRG Energy's payout ratio is currently 79.64%.

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.

Want to see what other hedge funds are holding NRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NRG Energy, Inc. (NYSE:NRG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.