Neo Ivy Capital Management Acquires Shares of 22,106 NRG Energy, Inc. (NYSE:NRG)

Key Points

• Neo Ivy Capital Management has acquired a new stake in NRG Energy, Inc., purchasing 22,106 shares valued at approximately $2,110,000.
• NRG Energy reported a quarterly earnings per share (EPS) of $2.62, significantly surpassing the consensus estimate of $0.72, with revenue reaching $8.59 billion.
• The company announced a quarterly dividend of $0.44 per share, representing an annualized dividend of $1.76 and a yield of 1.12%.

Neo Ivy Capital Management purchased a new position in NRG Energy, Inc. (NYSE:NRG - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 22,106 shares of the utilities provider's stock, valued at approximately $2,110,000.

Several other hedge funds and other institutional investors have also made changes to their positions in NRG. Brighton Jones LLC boosted its position in shares of NRG Energy by 41.8% in the 4th quarter. Brighton Jones LLC now owns 5,187 shares of the utilities provider's stock worth $468,000 after purchasing an additional 1,528 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of NRG Energy in the 4th quarter worth $155,000. LPL Financial LLC boosted its position in shares of NRG Energy by 19.6% in the 4th quarter. LPL Financial LLC now owns 221,039 shares of the utilities provider's stock worth $19,942,000 after purchasing an additional 36,181 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of NRG Energy by 4.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 324,494 shares of the utilities provider's stock worth $31,963,000 after purchasing an additional 14,821 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in NRG Energy during the 4th quarter worth $5,501,000. 97.72% of the stock is currently owned by institutional investors.

NRG Energy Stock Up 0.9%

Shares of NRG traded up $1.36 during midday trading on Monday, hitting $157.95. The stock had a trading volume of 708,082 shares, compared to its average volume of 3,204,849. The company has a 50 day simple moving average of $154.71 and a two-hundred day simple moving average of $122.16. NRG Energy, Inc. has a twelve month low of $65.11 and a twelve month high of $168.57. The firm has a market cap of $30.88 billion, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 1.30 and a beta of 1.13. The company has a debt-to-equity ratio of 4.61, a current ratio of 1.06 and a quick ratio of 1.02.

NRG Energy (NYSE:NRG - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The utilities provider reported $2.62 earnings per share (EPS) 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 firm had revenue of $8.59 billion for the quarter, compared to the consensus estimate of $8.28 billion. During the same quarter last year, the business posted $2.31 EPS. The company's revenue for the quarter was up 15.6% on a year-over-year basis. On average, analysts anticipate that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be paid a $0.44 dividend. The ex-dividend date is Friday, August 1st. This represents a $1.76 dividend on an annualized basis and a yield of 1.11%. NRG Energy's dividend payout ratio is 28.39%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NRG shares. BMO Capital Markets reissued a "market perform" rating and issued a $167.00 target price (up from $115.00) on shares of NRG Energy in a research note on Wednesday, May 14th. Raymond James Financial started coverage on NRG Energy in a research note on Friday, June 13th. They issued a "strong-buy" rating and a $195.00 target price for the company. Wall Street Zen cut NRG Energy from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Guggenheim boosted their target price 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, Citigroup boosted their target price on NRG Energy from $133.00 to $185.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $160.30.

Insiders Place Their Bets

In other NRG Energy news, Director Kevin Howell sold 50,000 shares of the firm'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 value of $7,725,000.00. Following the completion of the transaction, the director directly owned 55,427 shares in the company, valued at $8,563,471.50. This trade represents a 47.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.61% of the stock is currently owned by corporate insiders.

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.