Steamboat Capital Partners LLC Grows Stake in NRG Energy, Inc. (NYSE:NRG)

Steamboat Capital Partners LLC increased its position in NRG Energy, Inc. (NYSE:NRG - Free Report) by 20.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,763 shares of the utilities provider's stock after acquiring an additional 1,985 shares during the quarter. Steamboat Capital Partners LLC's holdings in NRG Energy were worth $1,061,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in NRG Energy in the 4th quarter worth approximately $32,000. Mizuho Bank Ltd. bought a new stake in shares of NRG Energy during the fourth quarter valued at approximately $41,000. UMB Bank n.a. raised its position in shares of NRG Energy by 100.4% during the fourth quarter. UMB Bank n.a. now owns 455 shares of the utilities provider's stock valued at $41,000 after buying an additional 228 shares during the last quarter. Princeton Global Asset Management LLC raised its position in shares of NRG Energy by 414.9% during the fourth quarter. Princeton Global Asset Management LLC now owns 484 shares of the utilities provider's stock valued at $44,000 after buying an additional 390 shares during the last quarter. Finally, Larson Financial Group LLC raised its position in shares of NRG Energy by 221.0% during the fourth quarter. Larson Financial Group LLC now owns 504 shares of the utilities provider's stock valued at $45,000 after buying an additional 347 shares during the last quarter. 97.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on NRG shares. 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 report on Wednesday, May 14th. Jefferies Financial Group lifted their price objective 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. Evercore ISI raised shares of NRG Energy from an "in-line" rating to an "outperform" rating and raised their target price for the company from $74.00 to $126.00 in a report on Tuesday, January 21st. Morgan Stanley boosted their price target on shares of NRG Energy from $86.00 to $99.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 19th. Finally, The Goldman Sachs Group started coverage on shares of NRG Energy in a research report on Friday, April 4th. They set a "buy" rating and a $129.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $140.75.

NRG Energy Stock Down 2.7%

Shares of NRG stock traded down $4.33 on Wednesday, hitting $155.35. The stock had a trading volume of 3,066,201 shares, compared to its average volume of 3,034,382. The business has a 50 day moving average price of $108.67 and a 200 day moving average price of $102.07. NRG Energy, Inc. has a one year low of $65.11 and a one year high of $161.78. The company has a quick ratio of 1.10, a current ratio of 1.17 and a debt-to-equity ratio of 5.57. The company has a market cap of $30.37 billion, a PE ratio of 39.03, a P/E/G ratio of 1.01 and a beta of 1.00.

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

NRG Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were given a $0.44 dividend. 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 1.13%. NRG Energy's dividend payout ratio is currently 28.39%.

NRG Energy 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.