Costello Asset Management INC Invests $166,000 in NRG Energy, Inc. (NYSE:NRG)

Key Points

• Costello Asset Management INC has acquired 1,737 shares of NRG Energy, valued at approximately $166,000, during the first quarter of 2023.
• NRG Energy has a market capitalization of $34.03 billion and recently reported earnings of $2.62 EPS, significantly beating analyst expectations.
• The company has announced a quarterly dividend of $0.44 per share, representing an annual yield of 1.0%, to be paid on August 15th.

Costello Asset Management INC bought a new position in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,737 shares of the utilities provider's stock, valued at approximately $166,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Key Financial Inc bought a new position in NRG Energy in the first quarter worth about $30,000. Evermay Wealth Management LLC acquired a new position in NRG Energy during the first quarter valued at $36,000. CIBC Private Wealth Group LLC boosted its holdings in NRG Energy by 64.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 521 shares of the utilities provider's stock worth $51,000 after buying an additional 205 shares in the last quarter. Park Square Financial Group LLC purchased a new position in shares of NRG Energy during the 4th quarter valued at approximately $53,000. Finally, Huntington National Bank increased its position in shares of NRG Energy by 28.3% during the fourth quarter. Huntington National Bank now owns 662 shares of the utilities provider's stock worth $60,000 after purchasing an additional 146 shares in the last quarter. 97.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wall Street Zen lowered NRG Energy from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Citigroup boosted their price target on shares of NRG Energy from $133.00 to $185.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Wells Fargo & Company increased their price objective 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. Raymond James Financial started 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 objective for the company. Finally, Guggenheim boosted 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. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, NRG Energy currently has an average rating of "Moderate Buy" and a consensus target price of $162.70.

Insider Transactions at NRG Energy

In other news, Director Kevin Howell sold 50,000 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $154.50, for a total transaction of $7,725,000.00. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.86% of the company's stock.

NRG Energy Price Performance

NRG Energy stock traded up $4.62 during midday trading on Thursday, reaching $153.18. The company's stock had a trading volume of 4,884,102 shares, compared to its average volume of 3,184,913. The company has a debt-to-equity ratio of 5.99, a quick ratio of 1.02 and a current ratio of 0.93. The stock's 50 day simple moving average is $155.79 and its 200 day simple moving average is $125.67. NRG Energy, Inc. has a fifty-two week low of $72.95 and a fifty-two week high of $175.96. The firm has a market capitalization of $29.95 billion, a PE ratio of 69.31, a P/E/G ratio of 1.24 and a beta of 1.14.

NRG Energy (NYSE:NRG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $1.68 earnings per share for the quarter, missing analysts' consensus estimates of $1.72 by ($0.04). The business had revenue of $6.74 billion for the quarter, compared to analysts' expectations of $6.63 billion. NRG Energy had a return on equity of 88.22% and a net margin of 1.78%. The company's revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the business earned $3.37 earnings per share. On average, equities research analysts forecast that NRG Energy, Inc. will post 6.36 earnings per share 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 issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, August 1st. NRG Energy's payout ratio is presently 79.64%.

About NRG Energy

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.