NRG Energy, Inc. $NRG Shares Bought by Kovitz Investment Group Partners LLC

Key Points

• Kovitz Investment Group Partners LLC substantially increased its stake in NRG Energy, Inc. by 664.8%, owning 96,425 shares worth $9.2 million following the purchase of an additional 83,817 shares in the first quarter.
• NRG Energy's recent quarterly earnings report showed earnings per share of $1.68, which was below the analysts' consensus estimate of $1.72, despite reporting a slight revenue increase of 1.2% year-over-year.
• The stock currently has a consensus rating of "Moderate Buy" with an average price target of $162.70, as various analysts adjust their ratings and price objectives based on recent performances.

Kovitz Investment Group Partners LLC increased its position in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 664.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 96,425 shares of the utilities provider's stock after buying an additional 83,817 shares during the period. Kovitz Investment Group Partners LLC's holdings in NRG Energy were worth $9,205,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in NRG. Zions Bancorporation National Association UT purchased a new stake in NRG Energy during the first quarter worth $28,000. Key Financial Inc purchased a new stake in NRG Energy during the first quarter worth $30,000. Evermay Wealth Management LLC purchased a new stake in NRG Energy during the first quarter worth $36,000. Park Square Financial Group LLC purchased a new stake in NRG Energy during the fourth quarter worth $53,000. Finally, UMB Bank n.a. lifted its holdings in NRG Energy by 44.0% during the first quarter. UMB Bank n.a. now owns 655 shares of the utilities provider's stock valued at $63,000 after purchasing an additional 200 shares in the last quarter. 97.72% of the stock is owned by hedge funds and other institutional investors.

NRG Energy Trading Down 1.4%

NRG Energy stock traded down $2.1410 during mid-day trading on Tuesday, hitting $148.2990. The company's stock had a trading volume of 2,189,857 shares, compared to its average volume of 3,226,585. NRG Energy, Inc. has a 1 year low of $76.13 and a 1 year high of $175.96. The firm has a market capitalization of $28.69 billion, a PE ratio of 67.10, a price-to-earnings-growth ratio of 1.21 and a beta of 1.14. The stock's fifty day moving average is $155.19 and its two-hundred day moving average is $128.25. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 5.99.

NRG Energy (NYSE:NRG - Get Free Report) last announced its quarterly earnings results 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). NRG Energy had a net margin of 1.78% and a return on equity of 88.22%. The company had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.63 billion. During the same quarter in the prior year, the business earned $3.37 earnings per share. NRG Energy's revenue was up 1.2% on a year-over-year basis. On average, analysts anticipate that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were given a dividend of $0.44 per share. The ex-dividend date was Friday, August 1st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.2%. NRG Energy's dividend payout ratio (DPR) is currently 79.64%.

Insider Buying and Selling at NRG Energy

In other NRG Energy news, Director Kevin Howell sold 50,000 shares of NRG Energy stock in a transaction dated 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on NRG shares. Guggenheim lifted their target price on shares of NRG Energy from $138.00 to $173.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Citigroup lifted their target price on shares of 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 lifted their target price 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. Wells Fargo & Company lifted their target price 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. Finally, Barclays lifted their target price on shares of NRG Energy from $197.00 to $203.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, NRG Energy has an average rating of "Moderate Buy" and an average price target of $162.70.

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.