Spire Wealth Management Purchases 1,560 Shares of NRG Energy, Inc. (NYSE:NRG)

Spire Wealth Management raised its position in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 55.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,391 shares of the utilities provider's stock after acquiring an additional 1,560 shares during the period. Spire Wealth Management's holdings in NRG Energy were worth $419,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Boston Partners acquired a new stake in NRG Energy in the 4th quarter valued at approximately $94,346,000. Appaloosa LP grew its stake in shares of NRG Energy by 81.5% in the fourth quarter. Appaloosa LP now owns 1,815,000 shares of the utilities provider's stock worth $163,749,000 after acquiring an additional 815,180 shares during the last quarter. Teacher Retirement System of Texas grew its stake in shares of NRG Energy by 350.4% in the fourth quarter. Teacher Retirement System of Texas now owns 904,265 shares of the utilities provider's stock worth $81,583,000 after acquiring an additional 703,481 shares during the last quarter. Raymond James Financial Inc. bought a new position in NRG Energy during the fourth quarter worth $61,679,000. Finally, GAMMA Investing LLC raised its stake in NRG Energy by 10,483.2% during the 1st quarter. GAMMA Investing LLC now owns 661,347 shares of the utilities provider's stock valued at $63,132,000 after purchasing an additional 655,098 shares during the last quarter. 97.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NRG Energy

In other NRG Energy news, Director Kevin Howell sold 50,000 shares of the stock in a transaction dated 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 sale, the director now owns 55,427 shares of the company's stock, valued at $8,563,471.50. This represents a 47.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.61% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Guggenheim boosted their price objective 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. Wall Street Zen upgraded NRG Energy from a "hold" rating to a "buy" rating in a research report on Friday. Barclays set a $197.00 price objective on NRG Energy and gave the company an "overweight" rating in a research report on Thursday. Raymond James Financial started coverage on NRG Energy in a research report on Friday, June 13th. They issued a "strong-buy" rating and a $195.00 target price for the company. Finally, Wells Fargo & Company boosted 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. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, NRG Energy presently has an average rating of "Moderate Buy" and an average target price of $151.80.

NRG Energy Price Performance

Shares of NYSE NRG traded down $1.33 during midday trading on Monday, reaching $161.34. 233,826 shares of the company traded hands, compared to its average volume of 2,960,934. NRG Energy, Inc. has a 12 month low of $65.11 and a 12 month high of $168.57. 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's 50-day simple moving average is $141.87 and its 200-day simple moving average is $113.72. The firm has a market cap of $31.54 billion, a PE ratio of 26.08, a PEG ratio of 1.29 and a beta of 1.13.

NRG Energy (NYSE:NRG - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The utilities provider reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm's quarterly revenue was up 15.6% on a year-over-year basis. During the same period last year, the firm posted $2.31 EPS. As a group, equities analysts anticipate that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $1.76 dividend on an annualized basis and a yield of 1.09%. NRG Energy's dividend payout ratio (DPR) is presently 28.39%.

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.