Fulton Bank N.A. Acquires New Stake in NRG Energy, Inc. (NYSE:NRG)

Fulton Bank N.A. purchased a new position in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,623 shares of the utilities provider's stock, valued at approximately $250,000.

Other large investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in shares of NRG Energy during the fourth quarter worth approximately $32,000. Mizuho Bank Ltd. acquired a new position in NRG Energy in the fourth quarter valued at approximately $41,000. Larson Financial Group LLC boosted its holdings in NRG Energy by 221.0% in the fourth quarter. Larson Financial Group LLC now owns 504 shares of the utilities provider's stock valued at $45,000 after purchasing an additional 347 shares in the last quarter. CIBC Private Wealth Group LLC boosted its holdings in NRG Energy by 64.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 521 shares of the utilities provider's stock valued at $51,000 after purchasing an additional 205 shares in the last quarter. Finally, Park Square Financial Group LLC acquired a new position in NRG Energy in the fourth quarter valued at approximately $53,000. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

NRG Energy Stock Performance

Shares of NYSE NRG traded down $0.09 during mid-day trading on Friday, hitting $155.94. 2,327,743 shares of the company were exchanged, compared to its average volume of 2,990,788. The company has a quick ratio of 1.10, a current ratio of 1.17 and a debt-to-equity ratio of 5.57. The stock has a 50 day simple moving average of $123.98 and a 200-day simple moving average of $107.72. NRG Energy, Inc. has a 1-year low of $65.11 and a 1-year high of $162.33. The firm has a market cap of $30.49 billion, a price-to-earnings ratio of 39.18, a price-to-earnings-growth ratio of 1.01 and a beta of 1.13.

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. NRG Energy had a return on equity of 48.96% and a net margin of 3.43%. The firm had revenue of $8.59 billion during the quarter, compared to the consensus estimate of $8.28 billion. During the same period last year, the company earned $2.31 earnings per share. The company's revenue for the quarter was up 15.6% on a year-over-year basis. On average, sell-side analysts forecast that NRG Energy, Inc. will post 6.36 EPS for the current fiscal year.

NRG Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.13%. The ex-dividend date was Thursday, May 1st. NRG Energy's payout ratio is 28.39%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NRG. The Goldman Sachs Group began coverage on NRG Energy in a report on Friday, April 4th. They issued a "buy" rating and a $129.00 price target for the company. Wells Fargo & Company increased their price objective on NRG Energy from $165.00 to $200.00 and gave the company an "overweight" rating in a report on Tuesday, May 13th. BMO Capital Markets reissued a "market perform" rating and issued a $167.00 price objective (up from $115.00) on shares of NRG Energy in a report on Wednesday, May 14th. Wall Street Zen downgraded NRG Energy from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, 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 report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, NRG Energy has a consensus rating of "Moderate Buy" and an average price target of $140.75.

Insiders Place Their Bets

In other news, Director Kevin Howell sold 50,000 shares of the firm'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 completion of the transaction, the director now owns 55,427 shares in the company, valued at $8,563,471.50. This trade represents a 47.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.61% of the stock is currently owned by company insiders.

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.