Gilman Hill Asset Management LLC Acquires New Shares in NRG Energy, Inc. (NYSE:NRG)

Gilman Hill Asset Management LLC acquired a new stake in NRG Energy, Inc. (NYSE:NRG - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund acquired 2,125 shares of the utilities provider's stock, valued at approximately $203,000.

A number of other hedge funds have also bought and sold shares of NRG. Banco Santander S.A. grew its position in shares of NRG Energy by 0.3% during the 4th quarter. Banco Santander S.A. now owns 2,828,000 shares of the utilities provider's stock valued at $255,142,000 after purchasing an additional 7,500 shares in the last quarter. Northern Trust Corp grew its position in shares of NRG Energy by 16.1% during the 4th quarter. Northern Trust Corp now owns 2,282,672 shares of the utilities provider's stock valued at $205,943,000 after purchasing an additional 316,445 shares in the last quarter. Appaloosa LP grew its position in shares of NRG Energy by 81.5% during the 4th quarter. Appaloosa LP now owns 1,815,000 shares of the utilities provider's stock valued at $163,749,000 after purchasing an additional 815,180 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of NRG Energy by 4.2% during the 4th quarter. Russell Investments Group Ltd. now owns 1,414,186 shares of the utilities provider's stock valued at $127,614,000 after purchasing an additional 56,944 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in shares of NRG Energy by 3.1% during the 4th quarter. Prudential Financial Inc. now owns 1,374,245 shares of the utilities provider's stock valued at $123,984,000 after purchasing an additional 41,094 shares in the last quarter. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NRG Energy news, Director Kevin Howell sold 50,000 shares of the business's stock in a transaction dated 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 transaction, the director now owns 55,427 shares in the company, valued at approximately $8,563,471.50. The trade was a 47.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NRG shares. Jefferies Financial Group boosted their price target on shares of NRG Energy from $113.00 to $132.00 and gave the company a "buy" rating in a research report on Monday, May 5th. BMO Capital Markets reaffirmed 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. Wells Fargo & Company lifted their price objective on shares of NRG Energy from $165.00 to $200.00 and gave the stock an "overweight" rating in a report on Tuesday, May 13th. Guggenheim lifted their price objective on shares of NRG Energy from $138.00 to $173.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Finally, Wall Street Zen downgraded shares of NRG Energy from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, NRG Energy has a consensus rating of "Moderate Buy" and an average target price of $140.75.

NRG Energy Stock Performance

NRG Energy stock opened at $155.95 on Friday. 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 company has a market capitalization of $30.49 billion, a PE ratio of 39.18, a P/E/G ratio of 1.01 and a beta of 1.13. The firm has a fifty day simple moving average of $122.83 and a two-hundred day simple moving average of $107.30. NRG Energy, Inc. has a twelve month low of $65.11 and a twelve month high of $162.33.

NRG Energy (NYSE:NRG - Get Free Report) last posted 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 business had revenue of $8.59 billion during the quarter, compared to the consensus estimate of $8.28 billion. NRG Energy had a net margin of 3.43% and a return on equity of 48.96%. The firm's revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.31 earnings per share. Research analysts expect that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Announces Dividend

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

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.

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