Charles Schwab Investment Management Inc. Has $180.58 Million Stake in NRG Energy, Inc. (NYSE:NRG)

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in NRG Energy by 1.8%, owning approximately 1.89 million shares valued at $180.58 million.
• Notable increases in holdings were reported by other hedge funds, with Goldman Sachs raising its stake by 468.4% to a total of 4.76 million shares worth $454.17 million.
• Analysts have a positive outlook on NRG Energy, with several firms increasing their price targets significantly while the stock is rated as a "Moderate Buy" with an average target price of $162.70.

Charles Schwab Investment Management Inc. reduced its stake in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,891,678 shares of the utilities provider's stock after selling 34,507 shares during the period. Charles Schwab Investment Management Inc. owned 0.93% of NRG Energy worth $180,580,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its stake in NRG Energy by 468.4% during the first quarter. Goldman Sachs Group Inc. now owns 4,757,735 shares of the utilities provider's stock worth $454,173,000 after purchasing an additional 6,049,247 shares in the last quarter. Legacy Capital Group California Inc. increased its position in shares of NRG Energy by 117.1% during the first quarter. Legacy Capital Group California Inc. now owns 7,163 shares of the utilities provider's stock worth $684,000 after acquiring an additional 3,863 shares during the period. Reaves W H & Co. Inc. purchased a new position in NRG Energy in the first quarter valued at $6,418,000. Atria Wealth Solutions Inc. boosted its stake in NRG Energy by 68.8% in the first quarter. Atria Wealth Solutions Inc. now owns 21,220 shares of the utilities provider's stock valued at $2,026,000 after acquiring an additional 8,646 shares in the last quarter. Finally, Costello Asset Management INC acquired a new position in NRG Energy in the first quarter valued at $166,000. 97.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NRG has been the subject of several recent research reports. BMO Capital Markets increased their target price on shares of NRG Energy from $167.00 to $185.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 6th. Guggenheim raised their price objective on shares of NRG Energy from $138.00 to $173.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Citigroup raised their price objective on shares of NRG Energy from $133.00 to $185.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Wells Fargo & Company lifted their price target on shares of NRG Energy from $165.00 to $200.00 and gave the company an "overweight" rating in a research report on Tuesday, May 13th. Finally, Raymond James Financial began coverage on shares of NRG Energy in a research report on Friday, June 13th. They set a "strong-buy" rating and a $195.00 price target for the company. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $162.70.

NRG Energy Stock Performance

NYSE NRG traded up $4.84 on Tuesday, hitting $156.87. The stock had a trading volume of 2,409,800 shares, compared to its average volume of 3,407,810. The company's 50-day moving average is $155.52 and its two-hundred day moving average is $126.66. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 5.99. The stock has a market cap of $30.34 billion, a price-to-earnings ratio of 70.98, a P/E/G ratio of 1.28 and a beta of 1.14. NRG Energy, Inc. has a one year low of $76.13 and a one year high of $175.96.

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

NRG Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be given a $0.44 dividend. The ex-dividend date is Friday, August 1st. This represents a $1.76 dividend on an annualized basis and a yield of 1.1%. NRG Energy's dividend payout ratio is presently 79.64%.

Insider Transactions at NRG Energy

In other NRG Energy news, Director Kevin Howell sold 50,000 shares of the 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 completion of the sale, the director owned 55,427 shares in the company, valued at $8,563,471.50. This represents a 47.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.61% of the stock is currently owned by 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.