Mirae Asset Global Investments Co. Ltd. Purchases 12,030 Shares of NRG Energy, Inc. (NYSE:NRG)

Mirae Asset Global Investments Co. Ltd. increased its holdings in NRG Energy, Inc. (NYSE:NRG - Free Report) by 18.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 77,983 shares of the utilities provider's stock after purchasing an additional 12,030 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in NRG Energy were worth $7,424,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Brighton Jones LLC raised its position in shares of NRG Energy by 41.8% during the 4th quarter. Brighton Jones LLC now owns 5,187 shares of the utilities provider's stock valued at $468,000 after buying an additional 1,528 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in NRG Energy by 84.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 8,733 shares of the utilities provider's stock worth $788,000 after acquiring an additional 4,004 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in NRG Energy during the fourth quarter valued at approximately $155,000. Private Trust Co. NA boosted its holdings in shares of NRG Energy by 29.1% in the 4th quarter. Private Trust Co. NA now owns 1,363 shares of the utilities provider's stock worth $123,000 after purchasing an additional 307 shares during the period. Finally, SVB Wealth LLC bought a new position in shares of NRG Energy during the 4th quarter valued at approximately $657,000. Hedge funds and other institutional investors own 97.72% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Jefferies Financial Group raised their price target on NRG Energy from $113.00 to $132.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. BMO Capital Markets restated a "market perform" rating and issued a $167.00 target price (up previously from $115.00) on shares of NRG Energy in a report on Wednesday, May 14th. Raymond James Financial started coverage on shares of NRG Energy in a report on Friday, June 13th. They set a "strong-buy" rating and a $195.00 price target on the stock. Barclays set a $197.00 price objective on shares of NRG Energy and gave the stock an "overweight" rating in a research note on Thursday. Finally, Wells Fargo & Company boosted their target price on NRG Energy from $165.00 to $200.00 and gave the company an "overweight" rating in a research report on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, NRG Energy presently has an average rating of "Moderate Buy" and a consensus target price of $151.80.

NRG Energy Stock Down 1.3%

Shares of NYSE NRG opened at $160.59 on Tuesday. NRG Energy, Inc. has a 52-week low of $65.11 and a 52-week high of $168.57. The firm has a market capitalization of $31.40 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 1.29 and a beta of 1.13. The stock has a 50 day moving average price of $143.22 and a 200 day moving average price of $114.18. The company has a debt-to-equity ratio of 4.61, a quick ratio of 1.02 and a current ratio of 1.06.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $1.90. The business 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 73.78% and a net margin of 4.66%. The business's revenue was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.31 EPS. Sell-side analysts expect that NRG Energy, Inc. will post 6.36 earnings per share for the current year.

NRG Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were issued a $0.44 dividend. The ex-dividend date was Thursday, May 1st. This represents a $1.76 annualized dividend and a dividend yield of 1.10%. NRG Energy's dividend payout ratio is currently 28.39%.

Insider Buying and Selling at NRG Energy

In related news, Director Kevin Howell sold 50,000 shares of NRG Energy stock in a transaction that occurred on 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 transaction, the director directly owned 55,427 shares of the company's stock, 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 filing with the SEC, which is available through this link. Insiders own 0.61% of the company's stock.

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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