Hourglass Capital LLC Purchases 5,500 Shares of NRG Energy, Inc. (NYSE:NRG)

Hourglass Capital LLC grew its position in NRG Energy, Inc. (NYSE:NRG - Free Report) by 9.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 64,100 shares of the utilities provider's stock after purchasing an additional 5,500 shares during the period. NRG Energy makes up approximately 1.6% of Hourglass Capital LLC's investment portfolio, making the stock its 26th largest holding. Hourglass Capital LLC's holdings in NRG Energy were worth $6,119,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NRG. Boston Partners bought a new stake in NRG Energy during the fourth quarter worth about $94,346,000. Appaloosa LP raised its stake in NRG Energy by 81.5% in the fourth quarter. Appaloosa LP now owns 1,815,000 shares of the utilities provider's stock valued at $163,749,000 after buying an additional 815,180 shares during the period. Teacher Retirement System of Texas raised its stake in NRG Energy by 350.4% in the fourth quarter. Teacher Retirement System of Texas now owns 904,265 shares of the utilities provider's stock valued at $81,583,000 after buying an additional 703,481 shares during the period. Raymond James Financial Inc. bought a new stake in NRG Energy in the fourth quarter valued at approximately $61,679,000. Finally, GAMMA Investing LLC raised its stake in NRG Energy by 10,483.2% in the first quarter. GAMMA Investing LLC now owns 661,347 shares of the utilities provider's stock valued at $63,132,000 after buying an additional 655,098 shares during the period. Institutional investors own 97.72% of the company's stock.

NRG Energy Price Performance

NYSE:NRG traded up $0.52 during trading hours on Wednesday, reaching $151.79. 462,717 shares of the company were exchanged, compared to its average volume of 2,975,219. The company has a market capitalization of $29.68 billion, a P/E ratio of 24.47, a P/E/G ratio of 1.26 and a beta of 1.13. NRG Energy, Inc. has a 1-year low of $65.11 and a 1-year high of $168.57. The company has a debt-to-equity ratio of 4.61, a current ratio of 1.06 and a quick ratio of 1.02. The business has a 50 day moving average of $149.32 and a 200 day moving average of $116.75.

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 for the quarter, topping 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 during the quarter, compared to analysts' expectations of $8.28 billion. During the same period in the prior year, the company earned $2.31 earnings per share. The company's quarterly revenue was up 15.6% on a year-over-year basis. Research analysts forecast that NRG Energy, Inc. will post 6.36 EPS for the current year.

Insiders Place Their Bets

In other NRG Energy news, Director Kevin Howell sold 50,000 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $154.50, for a total transaction of $7,725,000.00. Following the completion of the sale, the director directly owned 55,427 shares in the company, valued at $8,563,471.50. This 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 at the SEC website. 0.61% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NRG. Guggenheim upped their price objective on NRG Energy from $138.00 to $173.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Barclays set a $197.00 target price on NRG Energy and gave the company an "overweight" rating in a research report on Thursday, June 26th. Wall Street Zen raised NRG Energy from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. The Goldman Sachs Group assumed coverage on NRG Energy in a research report on Friday, April 4th. They issued a "buy" rating and a $129.00 target price on the stock. Finally, BMO Capital Markets reaffirmed a "market perform" rating and issued a $167.00 target price (up previously from $115.00) on shares of NRG Energy in a research report on Wednesday, May 14th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $151.80.

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.