GAMMA Investing LLC Purchases 655,098 Shares of NRG Energy, Inc. (NYSE:NRG)

GAMMA Investing LLC boosted its stake in NRG Energy, Inc. (NYSE:NRG - Free Report) by 10,483.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 661,347 shares of the utilities provider's stock after acquiring an additional 655,098 shares during the period. GAMMA Investing LLC owned 0.32% of NRG Energy worth $63,132,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in NRG Energy in the fourth quarter valued at approximately $32,000. Mizuho Bank Ltd. purchased a new stake in NRG Energy during the fourth quarter valued at about $41,000. Princeton Global Asset Management LLC raised its position in shares of NRG Energy by 414.9% in the fourth quarter. Princeton Global Asset Management LLC now owns 484 shares of the utilities provider's stock valued at $44,000 after purchasing an additional 390 shares during the period. Larson Financial Group LLC boosted its holdings in NRG Energy by 221.0% in the 4th quarter. Larson Financial Group LLC now owns 504 shares of the utilities provider's stock worth $45,000 after buying an additional 347 shares during the period. Finally, CIBC Private Wealth Group LLC grew its stake 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 in the last quarter. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on NRG. Guggenheim increased their price objective on NRG Energy from $138.00 to $173.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Wells Fargo & Company upped their price objective on shares of NRG Energy from $165.00 to $200.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. Wall Street Zen cut NRG Energy from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Morgan Stanley boosted their price objective on shares of NRG Energy from $86.00 to $99.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 19th. Finally, BMO Capital Markets reiterated a "market perform" rating and set a $167.00 target price (up from $115.00) on shares of NRG Energy in a report on Wednesday, May 14th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $140.75.

Insider Buying and Selling at NRG Energy

In related news, Director Kevin Howell sold 50,000 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $154.50, for a total value of $7,725,000.00. Following the sale, the director now owns 55,427 shares in the company, valued at approximately $8,563,471.50. This trade represents a 47.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.61% of the company's stock.

NRG Energy Trading Down 0.6%

Shares of NYSE NRG traded down $1.02 during midday trading on Thursday, hitting $155.95. 2,480,302 shares of the company traded hands, compared to its average volume of 3,004,965. The company has a debt-to-equity ratio of 5.57, a quick ratio of 1.10 and a current ratio of 1.17. NRG Energy, Inc. has a 12-month low of $65.11 and a 12-month high of $162.33. The firm has a market cap of $30.49 billion, a P/E ratio of 39.18, a P/E/G ratio of 1.01 and a beta of 1.13. The stock has a 50-day moving average price of $121.62 and a 200 day moving average price of $106.87.

NRG Energy (NYSE:NRG - Get Free Report) last released its 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 net margin of 3.43% and a return on equity of 48.96%. The firm had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.28 billion. During the same period last year, the business earned $2.31 earnings per share. The business's revenue was up 15.6% on a year-over-year basis. As a group, analysts expect that NRG Energy, Inc. will post 6.36 earnings per share for the current year.

NRG Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Thursday, May 1st. NRG Energy's dividend payout ratio (DPR) is currently 28.39%.

NRG Energy 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.