NRG Energy, Inc. (NYSE:NRG) Shares Purchased by Vestcor Inc

Key Points

• Vestcor Inc increased its stake in NRG Energy by 63.5% in the first quarter, acquiring a total of 8,524 shares valued at approximately $814,000.
• NRG Energy reported a Q1 EPS of $2.62, significantly surpassing analyst expectations of $0.72, with revenues reaching $8.59 billion.
• The company announced a quarterly dividend of $0.44 per share, with a payout ratio of 28.39%, to be paid on August 15th.

Vestcor Inc raised its position in NRG Energy, Inc. (NYSE:NRG - Free Report) by 63.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 8,524 shares of the utilities provider's stock after acquiring an additional 3,309 shares during the period. Vestcor Inc's holdings in NRG Energy were worth $814,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Key Financial Inc acquired a new stake in shares of NRG Energy in the first quarter valued at approximately $30,000. Evermay Wealth Management LLC acquired a new stake in shares of NRG Energy in the first quarter valued at approximately $36,000. Mizuho Bank Ltd. acquired a new stake in shares of NRG Energy in the fourth quarter valued at approximately $41,000. CIBC Private Wealth Group LLC grew its position in shares of NRG Energy by 64.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 521 shares of the utilities provider's stock valued at $51,000 after purchasing an additional 205 shares during the last quarter. Finally, Park Square Financial Group LLC acquired a new stake in shares of NRG Energy in the fourth quarter valued at approximately $53,000. Institutional investors and hedge funds own 97.72% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Wall Street Zen downgraded shares of NRG Energy from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Wells Fargo & Company lifted their price target on shares of NRG Energy from $165.00 to $200.00 and gave the stock an "overweight" rating in a report on Tuesday, May 13th. Raymond James Financial assumed coverage on shares of NRG Energy in a report on Friday, June 13th. They set a "strong-buy" rating and a $195.00 price target for the company. Guggenheim lifted their price target on shares of NRG Energy from $138.00 to $173.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Finally, Barclays set a $197.00 price target on shares of NRG Energy and gave the stock an "overweight" rating in a report on Thursday, June 26th. Two 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 MarketBeat, NRG Energy has an average rating of "Moderate Buy" and an average price target of $160.30.

NRG Energy Trading Up 0.4%

NYSE NRG opened at $167.83 on Friday. The company's fifty day simple moving average is $155.33 and its 200-day simple moving average is $124.23. NRG Energy, Inc. has a 52 week low of $65.11 and a 52 week high of $169.24. 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 stock has a market cap of $32.81 billion, a P/E ratio of 27.07, a PEG ratio of 1.39 and a beta of 1.14.

NRG Energy (NYSE:NRG - Get Free Report) last posted its earnings results on Monday, May 12th. The utilities provider reported $2.62 EPS for the quarter, topping analysts' consensus estimates of $0.72 by $1.90. The business had revenue of $8.59 billion for the quarter, compared to analysts' expectations of $8.28 billion. NRG Energy had a net margin of 4.66% and a return on equity of 73.78%. The business's revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.31 earnings per share. Equities research analysts predict that NRG Energy, Inc. will post 6.36 EPS 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 paid a dividend of $0.44 per share. The ex-dividend date is Friday, August 1st. This represents a $1.76 annualized dividend and a yield of 1.0%. NRG Energy's payout ratio is presently 28.39%.

Insiders Place Their Bets

In other NRG Energy 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 sale, the director owned 55,427 shares in the company, valued at $8,563,471.50. The trade was 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 this link. 0.86% of the stock is currently 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.

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