Fairfield Financial Advisors LTD Increases Position in NRG Energy, Inc. (NYSE:NRG)

Key Points

• Fairfield Financial Advisors LTD increased its stake in NRG Energy by 198.5%, holding 2,761 shares valued at $264,000 as of the latest reporting period.
• NRG Energy reported earnings of $2.62 per share, significantly exceeding the consensus estimate of $0.72, driven by a 15.6% year-over-year revenue increase to $8.59 billion.
• A recent quarterly dividend of $0.44 per share will be paid to investors, marking an annualized dividend yield of 1.0%.

Fairfield Financial Advisors LTD boosted its holdings in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 198.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,761 shares of the utilities provider's stock after purchasing an additional 1,836 shares during the quarter. Fairfield Financial Advisors LTD's holdings in NRG Energy were worth $264,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its holdings in NRG Energy by 41.8% in the 4th quarter. Brighton Jones LLC now owns 5,187 shares of the utilities provider's stock valued at $468,000 after acquiring an additional 1,528 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in NRG Energy by 64.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 521 shares of the utilities provider's stock valued at $51,000 after buying an additional 205 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of NRG Energy by 13.2% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 14,782 shares of the utilities provider's stock worth $1,334,000 after purchasing an additional 1,726 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of NRG Energy by 10.1% in the 4th quarter. Wellington Management Group LLP now owns 241,786 shares of the utilities provider's stock worth $21,814,000 after purchasing an additional 22,133 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in NRG Energy during the fourth quarter worth about $5,247,000. Institutional investors own 97.72% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on NRG. Jefferies Financial Group lifted their target price on NRG Energy from $113.00 to $132.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Raymond James Financial started coverage on NRG Energy in a report on Friday, June 13th. They set a "strong-buy" rating and a $195.00 target price on the stock. Barclays set a $197.00 target price on NRG Energy and gave the stock an "overweight" rating in a report on Thursday, June 26th. Wall Street Zen downgraded NRG Energy from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Guggenheim upped their price objective on NRG Energy from $138.00 to $173.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, NRG Energy presently has an average rating of "Moderate Buy" and a consensus price target of $160.30.

NRG Energy Trading Down 3.6%

Shares of NRG stock traded down $6.33 during mid-day trading on Tuesday, hitting $167.58. The company's stock had a trading volume of 1,203,270 shares, compared to its average volume of 3,191,660. The company's fifty day simple moving average is $155.65 and its 200-day simple moving average is $124.84. NRG Energy, Inc. has a 52 week low of $69.38 and a 52 week high of $175.96. The company has a debt-to-equity ratio of 4.61, a quick ratio of 1.02 and a current ratio of 1.06. The company has a market cap of $32.76 billion, a PE ratio of 27.12, a P/E/G ratio of 1.39 and a beta of 1.14.

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 analysts' consensus estimates of $0.72 by $1.90. The business 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 73.78% and a net margin of 4.66%. The company's quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.31 EPS. As a group, equities research analysts expect that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, August 1st. This represents a $1.76 dividend on an annualized basis and a yield of 1.1%. NRG Energy's payout ratio is presently 28.39%.

Insider Transactions at NRG Energy

In other news, Director Kevin Howell sold 50,000 shares of the business's stock in a transaction 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 completion of the transaction, the director directly owned 55,427 shares in the company, valued at $8,563,471.50. The trade was a 47.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.61% of the stock is owned by insiders.

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.