MidWestOne Financial Group Inc. Acquires 8,109 Shares of NRG Energy, Inc. (NYSE:NRG)

MidWestOne Financial Group Inc. raised its holdings in NRG Energy, Inc. (NYSE:NRG - Free Report) by 67.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,196 shares of the utilities provider's stock after buying an additional 8,109 shares during the quarter. MidWestOne Financial Group Inc.'s holdings in NRG Energy were worth $1,822,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. SBI Securities Co. Ltd. purchased a new position in shares of NRG Energy in the 4th quarter valued at approximately $32,000. UMB Bank n.a. raised its holdings in NRG Energy by 100.4% in the fourth quarter. UMB Bank n.a. now owns 455 shares of the utilities provider's stock worth $41,000 after purchasing an additional 228 shares in the last quarter. Mizuho Bank Ltd. purchased a new position in NRG Energy during the fourth quarter valued at $41,000. Princeton Global Asset Management LLC boosted its holdings in shares of NRG Energy by 414.9% during the 4th quarter. Princeton Global Asset Management LLC now owns 484 shares of the utilities provider's stock valued at $44,000 after buying an additional 390 shares in the last quarter. Finally, Larson Financial Group LLC grew its position in shares of NRG Energy by 221.0% in the 4th quarter. Larson Financial Group LLC now owns 504 shares of the utilities provider's stock worth $45,000 after buying an additional 347 shares during the period. 97.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on NRG shares. The Goldman Sachs Group assumed coverage on shares of NRG Energy in a research report on Friday, April 4th. They set a "buy" rating and a $129.00 price target for the company. BMO Capital Markets reiterated a "market perform" rating and set a $167.00 target price (up from $115.00) on shares of NRG Energy in a report on Wednesday, May 14th. Morgan Stanley upped their price target on NRG Energy from $86.00 to $99.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 19th. Guggenheim lifted their price objective on NRG Energy from $138.00 to $173.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Finally, Wall Street Zen cut NRG Energy from a "buy" rating to a "hold" rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, NRG Energy presently has an average rating of "Moderate Buy" and an average target price of $140.75.

NRG Energy Stock Up 1.7%

Shares of NRG Energy stock traded up $2.65 on Monday, reaching $157.94. The company's stock had a trading volume of 2,290,745 shares, compared to its average volume of 3,022,597. NRG Energy, Inc. has a 52 week low of $65.11 and a 52 week high of $161.78. The firm's fifty day simple moving average is $112.32 and its two-hundred day simple moving average is $103.48. 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 $30.88 billion, a price-to-earnings ratio of 39.68, a P/E/G ratio of 1.01 and a beta of 1.00.

NRG Energy (NYSE:NRG - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The utilities provider reported $2.62 EPS for the quarter, topping the consensus estimate of $0.72 by $1.90. The company had revenue of $8.59 billion during 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 period last year, the company earned $2.31 EPS. Equities analysts anticipate that NRG Energy, Inc. will post 6.36 earnings per share for the current year.

NRG Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Thursday, May 1st. NRG Energy's dividend payout ratio is currently 28.39%.

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.