NewEdge Wealth LLC bought a new stake in NRG Energy, Inc. (NYSE:NRG - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 240,028 shares of the utilities provider's stock, valued at approximately $22,913,000. NewEdge Wealth LLC owned approximately 0.12% of NRG Energy at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in NRG. GAMMA Investing LLC lifted its position in NRG Energy by 10,483.2% during the first quarter. GAMMA Investing LLC now owns 661,347 shares of the utilities provider's stock worth $63,132,000 after buying an additional 655,098 shares in the last quarter. Leigh Baldwin & CO. LLC acquired a new stake in shares of NRG Energy in the fourth quarter valued at $54,881,000. Bridgewater Associates LP grew its stake in shares of NRG Energy by 47.3% in the fourth quarter. Bridgewater Associates LP now owns 1,185,365 shares of the utilities provider's stock valued at $106,944,000 after buying an additional 380,564 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of NRG Energy by 119.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 677,894 shares of the utilities provider's stock valued at $61,161,000 after buying an additional 368,473 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of NRG Energy by 1,429.9% in the first quarter. Federated Hermes Inc. now owns 359,670 shares of the utilities provider's stock valued at $34,334,000 after buying an additional 336,161 shares in the last quarter. Hedge funds and other institutional investors own 97.72% of the company's stock.
NRG Energy Trading Up 0.4%
Shares of NRG opened at $167.83 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.02 and a debt-to-equity ratio of 4.61. The firm has a market capitalization of $32.81 billion, a P/E ratio of 27.07, a price-to-earnings-growth ratio of 1.39 and a beta of 1.14. The stock's fifty day simple moving average is $155.33 and its 200 day simple moving average is $124.23. NRG Energy, Inc. has a twelve month low of $65.11 and a twelve month high of $169.24.
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, 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 company had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.28 billion. During the same period last year, the company posted $2.31 earnings per share. The firm's revenue was up 15.6% compared to the same quarter last year. On average, equities research analysts forecast that NRG Energy, Inc. will post 6.36 earnings per share for the current year.
NRG Energy Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors 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 annualized dividend and a dividend yield of 1.0%. NRG Energy's payout ratio is 28.39%.
Insider Activity at NRG Energy
In related news, Director Kevin Howell sold 50,000 shares of the business's stock in a transaction dated 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 transaction, the director owned 55,427 shares in the company, valued at approximately $8,563,471.50. The trade was a 47.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.86% of the company's stock.
Wall Street Analyst Weigh In
NRG has been the subject of several analyst reports. Raymond James Financial initiated coverage on NRG Energy in a research note on Friday, June 13th. They set a "strong-buy" rating and a $195.00 target price for the company. Citigroup boosted their target price on NRG Energy from $133.00 to $185.00 and gave the company a "buy" rating in a report on Thursday, July 17th. BMO Capital Markets reiterated a "market perform" rating and set a $167.00 target price (up previously from $115.00) on shares of NRG Energy in a research report on Wednesday, May 14th. Wall Street Zen cut NRG Energy from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Wells Fargo & Company upped their price target on NRG Energy from $165.00 to $200.00 and gave the stock an "overweight" rating in a report on Tuesday, May 13th. Two equities research 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 stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $160.30.
Get Our Latest Analysis on NRG
About NRG Energy
(
Free Report)
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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