Nuveen LLC Makes New $93.08 Million Investment in NRG Energy, Inc. (NYSE:NRG)

Key Points

• Nuveen LLC has made a significant investment of $93.08 million in NRG Energy, acquiring 975,020 shares during the first quarter.
• NRG Energy's recent quarterly earnings report revealed $1.68 earnings per share, falling short of the analysts' expectations of $1.72.
• The company declared a quarterly dividend of $0.44 per share, representing a 1.1% yield, with payment scheduled for August 15th.

Nuveen LLC bought a new stake in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 975,020 shares of the utilities provider's stock, valued at approximately $93,075,000. Nuveen LLC owned approximately 0.48% of NRG Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its position in shares of NRG Energy by 468.4% in the first quarter. Goldman Sachs Group Inc. now owns 4,757,735 shares of the utilities provider's stock valued at $454,173,000 after acquiring an additional 6,049,247 shares in the last quarter. Northern Trust Corp lifted its position in shares of NRG Energy by 16.1% in the fourth quarter. Northern Trust Corp now owns 2,282,672 shares of the utilities provider's stock worth $205,943,000 after buying an additional 316,445 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of NRG Energy by 17.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,223,591 shares of the utilities provider's stock worth $110,392,000 after buying an additional 182,438 shares in the last quarter. Bridgewater Associates LP lifted its position in shares of NRG Energy by 47.3% in the fourth quarter. Bridgewater Associates LP now owns 1,185,365 shares of the utilities provider's stock worth $106,944,000 after buying an additional 380,564 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in shares of NRG Energy by 7.3% in the first quarter. Deutsche Bank AG now owns 1,050,924 shares of the utilities provider's stock worth $100,321,000 after buying an additional 71,337 shares in the last quarter. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

NRG Energy Stock Performance

NRG traded down $5.47 on Friday, reaching $148.31. 2,789,153 shares of the stock were exchanged, compared to its average volume of 3,379,730. The company's 50-day moving average price is $155.29 and its 200 day moving average price is $127.57. NRG Energy, Inc. has a fifty-two week low of $76.13 and a fifty-two week high of $175.96. The company has a debt-to-equity ratio of 5.99, a current ratio of 0.93 and a quick ratio of 0.88. The firm has a market capitalization of $28.69 billion, a PE ratio of 67.11, a PEG ratio of 1.25 and a beta of 1.14.

NRG Energy (NYSE:NRG - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $1.68 EPS for the quarter, missing analysts' consensus estimates of $1.72 by ($0.04). The firm had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.63 billion. NRG Energy had a return on equity of 88.22% and a net margin of 1.78%. The business's revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.37 EPS. As a group, sell-side analysts forecast that NRG Energy, Inc. will post 6.36 EPS for the current fiscal year.

NRG Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, August 1st. NRG Energy's payout ratio is 79.64%.

Insider Buying and Selling

In other news, Director Kevin Howell sold 50,000 shares of the business's stock in a transaction that occurred 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 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.86% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Jefferies Financial Group boosted their price objective on NRG Energy from $113.00 to $132.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Wells Fargo & Company increased their price objective on NRG Energy from $165.00 to $200.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 13th. Barclays increased their target price on NRG Energy from $197.00 to $203.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Guggenheim increased their target price on NRG Energy from $138.00 to $173.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Finally, Citigroup increased their target price on NRG Energy from $133.00 to $185.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $162.70.

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.