Merit Financial Group LLC Makes New Investment in NRG Energy, Inc. (NYSE:NRG)

Merit Financial Group LLC acquired a new stake in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,526 shares of the utilities provider's stock, valued at approximately $909,000.

A number of other large investors have also recently made changes to their positions in the stock. NBC Securities Inc. grew its stake in NRG Energy by 115,340.0% during the 1st quarter. NBC Securities Inc. now owns 5,772 shares of the utilities provider's stock valued at $550,000 after purchasing an additional 5,767 shares during the last quarter. Czech National Bank lifted its holdings in shares of NRG Energy by 5.9% during the first quarter. Czech National Bank now owns 46,526 shares of the utilities provider's stock worth $4,441,000 after purchasing an additional 2,605 shares during the period. Rhumbline Advisers boosted its position in NRG Energy by 6.0% in the first quarter. Rhumbline Advisers now owns 396,279 shares of the utilities provider's stock valued at $37,829,000 after buying an additional 22,593 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in NRG Energy by 7.2% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,468 shares of the utilities provider's stock worth $236,000 after buying an additional 166 shares during the period. Finally, Meyer Handelman Co. raised its position in NRG Energy by 19.0% during the 1st quarter. Meyer Handelman Co. now owns 93,977 shares of the utilities provider's stock worth $8,971,000 after buying an additional 14,995 shares during the last quarter. 97.72% of the stock is owned by hedge funds and other institutional investors.

NRG Energy Price Performance

NYSE:NRG opened at $155.94 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.17 and a debt-to-equity ratio of 5.57. NRG Energy, Inc. has a 52 week low of $65.11 and a 52 week high of $162.33. The stock's 50-day moving average price is $123.98 and its 200-day moving average price is $107.89. The stock has a market capitalization of $30.49 billion, a PE 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 (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $1.90. The company had revenue of $8.59 billion for the quarter, compared to the consensus estimate of $8.28 billion. NRG Energy had a return on equity of 48.96% and a net margin of 3.43%. NRG Energy's revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.31 earnings per share. As a group, equities analysts expect that NRG Energy, Inc. will post 6.36 EPS for the current fiscal year.

NRG Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis 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%.

Insider Buying and Selling at NRG Energy

In other NRG Energy news, Director Kevin Howell sold 50,000 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was 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 now directly owns 55,427 shares in the company, valued at approximately $8,563,471.50. The trade was a 47.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.86% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NRG. The Goldman Sachs Group began coverage on shares of NRG Energy in a report on Friday, April 4th. They issued a "buy" rating and a $129.00 price objective on the stock. BMO Capital Markets reaffirmed a "market perform" rating and set a $167.00 price target (up from $115.00) on shares of NRG Energy in a research report on Wednesday, May 14th. Wells Fargo & Company boosted 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. Jefferies Financial Group upped their target price on NRG Energy from $113.00 to $132.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Finally, Morgan Stanley lifted their price target on NRG Energy from $86.00 to $99.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, NRG Energy presently has an average rating of "Moderate Buy" and an average target price of $140.75.

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.

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