SCP Investment LP Invests $363,000 in NRG Energy, Inc. (NYSE:NRG)

Key Points

• SCP Investment LP acquired a new stake in NRG Energy, Inc. during Q1, purchasing 3,800 shares valued at approximately $363,000.
• Several hedge funds, including GAMMA Investing LLC and Bridgewater Associates LP, significantly increased their positions in NRG Energy, indicating strong institutional interest.
• Analysts have set a range of target prices for NRG Energy, with Barclays maintaining a target of $197.00 and several firms issuing buy ratings, indicating positive sentiment towards the stock.

SCP Investment LP bought a new position in NRG Energy, Inc. (NYSE:NRG - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,800 shares of the utilities provider's stock, valued at approximately $363,000.

Several other institutional investors have also recently made changes to their positions in NRG. Brighton Jones LLC increased its position in shares of NRG Energy by 41.8% during the fourth quarter. Brighton Jones LLC now owns 5,187 shares of the utilities provider's stock worth $468,000 after purchasing an additional 1,528 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in NRG Energy by 64.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 521 shares of the utilities provider's stock worth $51,000 after purchasing an additional 205 shares during the period. O Shaughnessy Asset Management LLC lifted its position in shares of NRG Energy by 13.2% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 14,782 shares of the utilities provider's stock valued at $1,334,000 after acquiring an additional 1,726 shares during the last quarter. Wellington Management Group LLP raised its stake in NRG Energy by 10.1% during the 4th quarter. Wellington Management Group LLP now owns 241,786 shares of the utilities provider's stock valued at $21,814,000 after purchasing an additional 22,133 shares during the period. Finally, Trexquant Investment LP acquired a new position in shares of NRG Energy in the fourth quarter worth $5,247,000. Hedge funds and other institutional investors own 97.72% of the company's stock.

NRG Energy Stock Down 2.4%

NYSE:NRG traded down $4.14 on Tuesday, hitting $169.77. The stock had a trading volume of 997,477 shares, compared to its average volume of 3,189,140. The company has a debt-to-equity ratio of 4.61, a quick ratio of 1.02 and a current ratio of 1.06. The stock has a market cap of $33.19 billion, a P/E ratio of 27.53, a price-to-earnings-growth ratio of 1.39 and a beta of 1.14. NRG Energy, Inc. has a 1 year low of $69.38 and a 1 year high of $175.96. The firm's fifty day simple moving average is $155.65 and its two-hundred day simple moving average is $124.84.

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, beating analysts' consensus estimates of $0.72 by $1.90. The firm had revenue of $8.59 billion during the quarter, compared to the consensus estimate of $8.28 billion. NRG Energy had a net margin of 4.66% and a return on equity of 73.78%. The company's revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.31 EPS. Analysts predict that NRG Energy, Inc. will post 6.36 earnings per share for the current 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 issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 1st. NRG Energy's dividend payout ratio is currently 28.39%.

Insider Buying and Selling

In other NRG Energy news, Director Kevin Howell sold 50,000 shares of the company's stock in a transaction that occurred on 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 represents a 47.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.61% of the company's stock.

Analyst Ratings Changes

NRG has been the subject of several research reports. Barclays set a $197.00 target price on shares of NRG Energy and gave the company an "overweight" rating in a research note on Thursday, June 26th. Wells Fargo & Company raised their price target on shares of NRG Energy from $165.00 to $200.00 and gave the company an "overweight" rating in a report on Tuesday, May 13th. Jefferies Financial Group raised their price target on shares of NRG Energy from $113.00 to $132.00 and gave the company a "buy" rating in a report on Monday, May 5th. Raymond James Financial started coverage on shares of NRG Energy in a report on Friday, June 13th. They set a "strong-buy" rating and a $195.00 target price for the company. Finally, BMO Capital Markets reissued a "market perform" rating and issued a $167.00 price target (up previously from $115.00) on shares of NRG Energy in a report on Wednesday, May 14th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, NRG Energy has a consensus rating of "Moderate Buy" and an average price target of $160.30.

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.