Meyer Handelman Co. Buys 14,995 Shares of NRG Energy, Inc. (NYSE:NRG)

Meyer Handelman Co. raised its position in NRG Energy, Inc. (NYSE:NRG - Free Report) by 19.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 93,977 shares of the utilities provider's stock after purchasing an additional 14,995 shares during the period. Meyer Handelman Co.'s holdings in NRG Energy were worth $8,971,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC increased its holdings in shares of NRG Energy by 34.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 13,094 shares of the utilities provider's stock worth $1,181,000 after buying an additional 3,329 shares during the last quarter. Brighton Jones LLC boosted its position 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 buying an additional 1,528 shares during the last quarter. Blue Trust Inc. raised its stake in shares of NRG Energy by 58.4% in the 4th quarter. Blue Trust Inc. now owns 4,492 shares of the utilities provider's stock valued at $409,000 after purchasing an additional 1,657 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of NRG Energy by 7.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 384,013 shares of the utilities provider's stock valued at $34,646,000 after purchasing an additional 25,765 shares in the last quarter. Finally, Forsta AP Fonden acquired a new stake in shares of NRG Energy in the 4th quarter valued at about $3,636,000. 97.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NRG has been the topic of several research reports. BMO Capital Markets reiterated a "market perform" rating and set a $167.00 price objective (up previously from $115.00) on shares of NRG Energy in a research note on Wednesday, May 14th. Wells Fargo & Company upped their target price on NRG Energy from $165.00 to $200.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 13th. Morgan Stanley raised their target price on shares of NRG Energy from $86.00 to $99.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 19th. Wall Street Zen cut shares of NRG Energy from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Jefferies Financial Group upped their price target on shares of NRG Energy from $113.00 to $132.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $140.75.

NRG Energy Stock Performance

NYSE:NRG traded up $2.60 during midday trading on Monday, reaching $158.50. The stock had a trading volume of 3,745,044 shares, compared to its average volume of 3,015,777. The firm's fifty day simple moving average is $117.86 and its 200-day simple moving average is $105.68. The stock has a market capitalization of $30.99 billion, a P/E ratio of 39.82, a PEG ratio of 1.01 and a beta of 1.00. The company has a debt-to-equity ratio of 5.57, a current ratio of 1.17 and a quick ratio of 1.10. NRG Energy, Inc. has a 1-year low of $65.11 and a 1-year high of $161.78.

NRG Energy (NYSE:NRG - Get Free Report) last issued its earnings results on Monday, May 12th. The utilities provider reported $2.62 earnings per share for the quarter, beating the consensus estimate of $0.72 by $1.90. The business had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.28 billion. NRG Energy had a net margin of 3.43% and a return on equity of 48.96%. The firm's revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.31 EPS. On average, equities research analysts forecast that NRG Energy, Inc. will post 6.36 EPS for the current fiscal year.

NRG Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $1.76 annualized dividend and a yield of 1.11%. NRG Energy's dividend payout ratio is 28.39%.

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.