Foster & Motley Inc. Raises Holdings in NRG Energy, Inc. (NYSE:NRG)

Key Points

• Foster & Motley Inc. increased its stock holdings in NRG Energy, Inc. by 23.7%, owning a total of 11,532 shares worth approximately $1,101,000 as of the latest SEC filing.
• The company reported strong quarterly earnings of $2.62 per share, surpassing analysts' expectations of $0.72, alongside revenues of $8.59 billion, marking a 15.6% increase year-over-year.
• NRG Energy announced a quarterly dividend of $0.44 per share, with a dividend yield of 1.06%, set to be paid on August 15th to stockholders of record as of August 1st.

Foster & Motley Inc. increased its position in NRG Energy, Inc. (NYSE:NRG - Free Report) by 23.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,532 shares of the utilities provider's stock after buying an additional 2,212 shares during the quarter. Foster & Motley Inc.'s holdings in NRG Energy were worth $1,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of NRG. Arkadios Wealth Advisors raised its holdings in shares of NRG Energy by 55.6% during the first quarter. Arkadios Wealth Advisors now owns 9,070 shares of the utilities provider's stock valued at $866,000 after acquiring an additional 3,242 shares in the last quarter. Eastern Bank bought a new position in shares of NRG Energy during the first quarter valued at approximately $143,000. Vestcor Inc raised its holdings in shares of NRG Energy by 63.5% during the first quarter. Vestcor Inc now owns 8,524 shares of the utilities provider's stock valued at $814,000 after acquiring an additional 3,309 shares in the last quarter. XTX Topco Ltd raised its holdings in shares of NRG Energy by 84.0% during the first quarter. XTX Topco Ltd now owns 15,943 shares of the utilities provider's stock valued at $1,522,000 after acquiring an additional 7,276 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of NRG Energy by 1,429.9% during the first quarter. Federated Hermes Inc. now owns 359,670 shares of the utilities provider's stock valued at $34,334,000 after acquiring an additional 336,161 shares in the last quarter. Institutional investors own 97.72% of the company's stock.

Insiders Place Their Bets

In other news, Director Kevin Howell sold 50,000 shares of NRG Energy stock in a transaction that occurred 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 completion of the transaction, the director owned 55,427 shares in the company, valued at approximately $8,563,471.50. The trade was a 47.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.86% of the stock is owned by corporate insiders.

NRG Energy Price Performance

Shares of NYSE:NRG traded up $0.63 during trading on Friday, hitting $167.83. 2,557,564 shares of the company's stock were exchanged, compared to its average volume of 2,544,449. The company has a debt-to-equity ratio of 4.61, a current ratio of 1.06 and a quick ratio of 1.02. NRG Energy, Inc. has a 52-week low of $65.11 and a 52-week high of $169.24. The business's 50-day simple moving average is $155.33 and its 200 day simple moving average is $124.09. The company has a market cap of $32.81 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 1.39 and a beta of 1.14.

NRG Energy (NYSE:NRG - Get Free Report) last released its earnings results on Monday, May 12th. The utilities provider reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $1.90. The firm had revenue of $8.59 billion during 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 was up 15.6% on a year-over-year basis. During the same quarter last year, the business posted $2.31 earnings per share. As a group, equities analysts predict that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, August 1st. NRG Energy's dividend payout ratio (DPR) is currently 28.39%.

Analysts Set New Price Targets

NRG has been the topic of several recent research reports. BMO Capital Markets reaffirmed a "market perform" rating and issued a $167.00 price target (up from $115.00) on shares of NRG Energy in a research note on Wednesday, May 14th. Wall Street Zen cut NRG Energy from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Citigroup increased their price objective on NRG Energy from $133.00 to $185.00 and gave the company a "buy" rating in a research report 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 report on Monday, May 5th. Finally, The Goldman Sachs Group began coverage on NRG Energy in a research report on Friday, April 4th. They set a "buy" rating and a $129.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, NRG Energy presently has an average rating of "Moderate Buy" and an average target price of $160.30.

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.