Reaves W H & Co. Inc. Purchases New Stake in NRG Energy, Inc. (NYSE:NRG)

Key Points

• Reaves W H & Co. Inc. acquired a new stake in NRG Energy, Inc., purchasing 67,233 shares valued at approximately $6.4 million in the first quarter.
• NRG Energy reported $2.62 EPS for its latest quarter, significantly exceeding analysts' expectations of $0.72 and showing a 15.6% increase in revenue year-over-year.
• The company recently declared a quarterly dividend of $0.44 per share, resulting in an annualized yield of 1.0%, with a payout ratio of 28.39%.

Reaves W H & Co. Inc. bought a new position in NRG Energy, Inc. (NYSE:NRG - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 67,233 shares of the utilities provider's stock, valued at approximately $6,418,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Northern Trust Corp boosted its stake in NRG Energy by 16.1% during the 4th quarter. Northern Trust Corp now owns 2,282,672 shares of the utilities provider's stock valued at $205,943,000 after purchasing an additional 316,445 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of NRG Energy by 17.5% during 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 during the period. Bridgewater Associates LP grew its holdings in NRG Energy by 47.3% in the 4th 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. Victory Capital Management Inc. increased its position in NRG Energy by 32.2% in the 1st quarter. Victory Capital Management Inc. now owns 992,811 shares of the utilities provider's stock valued at $94,774,000 after acquiring an additional 242,010 shares during the period. Finally, Assetmark Inc. boosted its position in NRG Energy by 0.8% during the 1st quarter. Assetmark Inc. now owns 740,725 shares of the utilities provider's stock worth $70,710,000 after acquiring an additional 6,064 shares during the period. 97.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other NRG Energy news, Director Kevin Howell sold 50,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the director directly owned 55,427 shares in the company, valued at $8,563,471.50. This trade represents a 47.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.86% of the company's stock.

NRG Energy Price Performance

NYSE:NRG traded up $4.62 during trading hours on Thursday, reaching $153.18. 4,884,102 shares of the company's stock were exchanged, compared to its average volume of 3,184,913. The company has a quick ratio of 1.02, a current ratio of 0.93 and a debt-to-equity ratio of 5.99. The company has a market capitalization of $29.95 billion, a P/E ratio of 69.31, a price-to-earnings-growth ratio of 1.24 and a beta of 1.14. NRG Energy, Inc. has a 12 month low of $72.95 and a 12 month high of $175.96. The business's 50-day simple moving average is $155.79 and its two-hundred day simple moving average is $125.67.

NRG Energy (NYSE:NRG - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $1.68 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.04). The company had revenue of $6.74 billion for the quarter, compared to the consensus estimate 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 business earned $3.37 earnings per share. Sell-side analysts expect that NRG Energy, Inc. will post 6.36 EPS for the current fiscal year.

NRG Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, August 1st. NRG Energy's payout ratio is presently 79.64%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on NRG shares. Wall Street Zen cut shares of NRG Energy from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. Wells Fargo & Company boosted their price target on shares of NRG Energy from $165.00 to $200.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 13th. Raymond James Financial assumed coverage on shares of NRG Energy in a report on Friday, June 13th. They issued a "strong-buy" rating and a $195.00 price objective for the company. Jefferies Financial Group raised their price objective on shares of NRG Energy from $113.00 to $132.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, Citigroup upped their target price on NRG Energy from $133.00 to $185.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $162.70.

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.