M&T Bank Corp Buys 22,542 Shares of NRG Energy, Inc. $NRG

Key Points

• M&T Bank Corp increased its stake in NRG by 71.4%, buying 22,542 shares to own 54,124 shares valued at about $8.62 million at quarter-end.
• NRG missed quarterly EPS ($1.04 vs. $1.19 expected) but beat on revenue—$7.75 billion, up 13.7% year-over-year—while reporting a 2.81% net margin and a very high ROE (109.48%).
• The company declared a quarterly dividend of $0.475 per share payable May 15 (1.2% yield), and Wall Street has a consensus "Moderate Buy" rating with an average target near $198.29.

M&T Bank Corp lifted its holdings in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 71.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,124 shares of the utilities provider's stock after purchasing an additional 22,542 shares during the quarter. M&T Bank Corp's holdings in NRG Energy were worth $8,619,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of NRG Energy by 5.5% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 115,471 shares of the utilities provider's stock worth $18,403,000 after purchasing an additional 5,993 shares during the period. Eagle Global Advisors LLC raised its position in NRG Energy by 33.1% in the 4th quarter. Eagle Global Advisors LLC now owns 10,016 shares of the utilities provider's stock valued at $1,595,000 after buying an additional 2,490 shares during the last quarter. Optas LLC raised its position in NRG Energy by 11.8% in the 4th quarter. Optas LLC now owns 1,476 shares of the utilities provider's stock valued at $235,000 after buying an additional 156 shares during the last quarter. Duncker Streett & Co. Inc. acquired a new stake in NRG Energy in the 4th quarter valued at approximately $448,000. Finally, TD Waterhouse Canada Inc. raised its position in NRG Energy by 2.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 8,939 shares of the utilities provider's stock valued at $1,423,000 after buying an additional 176 shares during the last quarter. Institutional investors and hedge funds own 97.72% of the company's stock.

NRG Energy Price Performance

NYSE:NRG opened at $159.68 on Friday. NRG Energy, Inc. has a 1-year low of $105.30 and a 1-year high of $189.96. The company has a current ratio of 1.64, a quick ratio of 1.58 and a debt-to-equity ratio of 15.92. The firm has a fifty day simple moving average of $160.58 and a 200 day simple moving average of $161.10. The stock has a market capitalization of $34.26 billion, a PE ratio of 40.53 and a beta of 1.35.

NRG Energy (NYSE:NRG - Get Free Report) last released its earnings results on Tuesday, February 24th. The utilities provider reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.15). NRG Energy had a net margin of 2.81% and a return on equity of 109.48%. The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same period in the prior year, the business posted $1.56 earnings per share. NRG Energy's quarterly revenue was up 13.7% compared to the same quarter last year. On average, research analysts expect that NRG Energy, Inc. will post 8.81 EPS for the current fiscal year.

NRG Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 1st will be paid a $0.475 dividend. The ex-dividend date of this dividend is Friday, May 1st. This represents a $1.90 annualized dividend and a dividend yield of 1.2%. NRG Energy's dividend payout ratio (DPR) is currently 48.22%.

Wall Street Analysts Forecast Growth

NRG has been the topic of a number of recent research reports. Jefferies Financial Group dropped their target price on NRG Energy from $198.00 to $181.00 and set a "buy" rating on the stock in a research report on Tuesday, January 27th. Evercore initiated coverage on NRG Energy in a research report on Wednesday, February 25th. They issued an "outperform" rating and a $215.00 target price on the stock. Wolfe Research raised NRG Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 target price on the stock in a research report on Wednesday, March 18th. Weiss Ratings lowered NRG Energy from a "buy (b)" rating to a "hold (c+)" rating in a research report on Thursday, February 26th. Finally, BNP Paribas Exane initiated coverage on NRG Energy in a research report on Wednesday, March 18th. They issued an "outperform" rating and a $232.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $198.29.

Insider Buying and Selling at NRG Energy

In related news, VP Virginia Kinney sold 5,000 shares of the business's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $156.65, for a total transaction of $783,250.00. Following the transaction, the vice president directly owned 55,495 shares of the company's stock, valued at approximately $8,693,291.75. The trade was a 8.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.43% of the company's stock.

NRG Energy Company Profile

NRG Energy NYSE: NRG is a U.S.-based integrated power company headquartered in Houston, Texas. The company develops, owns and operates a diversified portfolio of power generation assets and participates in wholesale and retail energy markets. NRG supplies electricity to utilities, commercial and industrial customers, and retail consumers, while also providing energy-related products and services designed to manage consumption and support reliability.

NRG's generation mix includes conventional thermal plants as well as renewable and distributed energy resources.

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