Envestnet Asset Management Inc. Purchases 206,096 Shares of NRG Energy, Inc. (NYSE:NRG)

Envestnet Asset Management Inc. increased its stake in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 99.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 413,911 shares of the utilities provider's stock after purchasing an additional 206,096 shares during the period. Envestnet Asset Management Inc. owned 0.20% of NRG Energy worth $39,512,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NRG. Brighton Jones LLC lifted its holdings in NRG Energy by 41.8% during the 4th quarter. Brighton Jones LLC now owns 5,187 shares of the utilities provider's stock worth $468,000 after purchasing an additional 1,528 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in NRG Energy during the 4th quarter worth about $155,000. Independent Advisor Alliance lifted its holdings in NRG Energy by 5.9% during the 4th quarter. Independent Advisor Alliance now owns 2,619 shares of the utilities provider's stock worth $236,000 after purchasing an additional 146 shares in the last quarter. Wealthfront Advisers LLC boosted its position in shares of NRG Energy by 22.7% during the 4th quarter. Wealthfront Advisers LLC now owns 4,888 shares of the utilities provider's stock valued at $441,000 after acquiring an additional 905 shares during the last quarter. Finally, HighTower Advisors LLC boosted its position in shares of NRG Energy by 37.6% during the 4th quarter. HighTower Advisors LLC now owns 43,650 shares of the utilities provider's stock valued at $3,938,000 after acquiring an additional 11,920 shares during the last quarter. Hedge funds and other institutional investors own 97.72% of the company's stock.

Insiders Place Their Bets

In related news, Director Kevin Howell sold 50,000 shares of the company's stock in a transaction on 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 sale, the director directly owned 55,427 shares of the company's stock, valued at $8,563,471.50. This represents a 47.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.61% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NRG shares. Wall Street Zen upgraded NRG Energy from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Guggenheim raised their price objective on NRG Energy from $138.00 to $173.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. BMO Capital Markets reissued a "market perform" rating and set a $167.00 price objective (up from $115.00) on shares of NRG Energy in a report on Wednesday, May 14th. Barclays set a $197.00 price objective on NRG Energy and gave the company an "overweight" rating in a report on Thursday, June 26th. Finally, Raymond James Financial started coverage on NRG Energy in a report on Friday, June 13th. They set a "strong-buy" rating and a $195.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $151.80.

NRG Energy Price Performance

Shares of NRG stock opened at $150.50 on Monday. The stock has a market cap of $29.42 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 1.20 and a beta of 1.13. The business's fifty day moving average is $151.55 and its 200 day moving average is $118.13. NRG Energy, Inc. has a twelve month low of $65.11 and a twelve month high of $168.57. The company has a quick ratio of 1.02, a current ratio of 1.06 and a debt-to-equity ratio of 4.61.

NRG Energy (NYSE:NRG - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The utilities provider reported $2.62 earnings per share for the quarter, topping the consensus estimate of $0.72 by $1.90. The company had revenue of $8.59 billion for the quarter, compared to analysts' expectations of $8.28 billion. NRG Energy had a return on equity of 73.78% and a net margin of 4.66%. The firm's revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.31 earnings per share. Research analysts expect that NRG Energy, Inc. will post 6.36 EPS for the current fiscal year.

NRG Energy Company 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.

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