Liberty Wealth Management LLC Takes $1.26 Million Position in NRG Energy, Inc. (NYSE:NRG)

Key Points

• Liberty Wealth Management LLC has acquired a new position in NRG Energy, purchasing 13,225 shares valued at approximately $1.26 million in the first quarter.
• Analysts have revised their target prices for NRG Energy, with Jefferies Financial Group raising their price objective from $113 to $132, indicating a "buy" rating.
• NRG Energy announced a quarterly dividend of $0.44 per share, which reflects an annualized yield of 1.0%, with the dividend set to be paid on August 15th.

Liberty Wealth Management LLC bought a new position in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 13,225 shares of the utilities provider's stock, valued at approximately $1,262,000.

Other institutional investors have also recently bought and sold shares of the company. Key Financial Inc acquired a new position in shares of NRG Energy in the 1st quarter worth approximately $30,000. Evermay Wealth Management LLC bought a new stake in shares of NRG Energy in the 1st quarter valued at $36,000. CIBC Private Wealth Group LLC boosted its stake in shares of NRG Energy by 64.9% in the 4th 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 during the last quarter. Park Square Financial Group LLC bought a new stake in shares of NRG Energy in the 4th quarter valued at $53,000. Finally, UMB Bank n.a. boosted its stake in shares of NRG Energy by 44.0% in the 1st 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 during the last quarter. Institutional investors and hedge funds own 97.72% of the company's stock.

Insider Activity

In related news, Director Kevin Howell sold 50,000 shares of NRG Energy stock in a transaction dated 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 sale, the director owned 55,427 shares of the company's stock, valued at approximately $8,563,471.50. This trade represents a 47.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

NRG Energy Stock Down 1.1%

NYSE:NRG traded down $1.90 during trading hours on Tuesday, hitting $172.01. 4,364,722 shares of the company traded hands, compared to its average volume of 2,735,789. The company has a quick ratio of 1.02, a current ratio of 1.06 and a debt-to-equity ratio of 4.61. The firm's 50-day simple moving average is $155.65 and its 200-day simple moving average is $124.84. NRG Energy, Inc. has a one year low of $69.38 and a one year high of $175.96. The company has a market cap of $33.63 billion, a PE ratio of 27.74, a PEG ratio of 1.45 and a beta of 1.14.

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

NRG Energy Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have recently commented on NRG. BMO Capital Markets reaffirmed a "market perform" rating and issued a $167.00 price objective (up from $115.00) on shares of NRG Energy in a research note on Wednesday, May 14th. Barclays set a $197.00 price target on NRG Energy and gave the stock an "overweight" rating in a report on Thursday, June 26th. 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 target on the stock. Jefferies Financial Group increased their price target on NRG Energy from $113.00 to $132.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Finally, Wall Street Zen cut NRG Energy from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target 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.