United Services Automobile Association Takes $472,000 Position in NRG Energy, Inc. $NRG

Key Points

• United Services Automobile Association invested approximately $472,000 in 4,955 shares of NRG Energy, Inc. in the first quarter of 2023.
• NRG Energy reported $1.68 earnings per share for the last quarter, missing estimates by $0.04, but had a revenue of $6.74 billion, exceeding expectations.
• The company announced a quarterly dividend of $0.44 per share, which reflects a 1.1% yield and a payout ratio of 79.64%.

United Services Automobile Association purchased a new position in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,955 shares of the utilities provider's stock, valued at approximately $472,000.

Several other hedge funds have also recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its holdings in NRG Energy by 468.4% during the 1st 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 during the period. Amundi boosted its stake in shares of NRG Energy by 772.5% in the first quarter. Amundi now owns 4,378,022 shares of the utilities provider's stock valued at $406,342,000 after purchasing an additional 3,876,235 shares during the period. Boston Partners grew its holdings in shares of NRG Energy by 169.5% in the first quarter. Boston Partners now owns 2,817,018 shares of the utilities provider's stock valued at $269,230,000 after purchasing an additional 1,771,829 shares in the last quarter. Appaloosa LP increased its stake in NRG Energy by 12.9% during the 1st quarter. Appaloosa LP now owns 2,050,000 shares of the utilities provider's stock worth $195,693,000 after buying an additional 235,000 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in NRG Energy by 33.6% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,481,120 shares of the utilities provider's stock worth $141,388,000 after buying an additional 372,618 shares in the last quarter. Institutional investors and hedge funds own 97.72% of the company's stock.

NRG Energy Stock Up 4.5%

NRG Energy stock traded up $7.14 during mid-day trading on Friday, hitting $165.06. The company had a trading volume of 2,278,123 shares, compared to its average volume of 1,979,868. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 5.99. NRG Energy, Inc. has a 1 year low of $77.49 and a 1 year high of $175.96. The business has a fifty day moving average of $153.23 and a 200 day moving average of $133.81. The stock has a market cap of $31.93 billion, a price-to-earnings ratio of 74.69, a PEG ratio of 1.29 and a beta of 1.17.

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

NRG Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were given a dividend of $0.44 per share. The ex-dividend date was Friday, August 1st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.1%. NRG Energy's payout ratio is 79.64%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Wall Street Zen cut NRG Energy from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Citigroup increased their price target on NRG Energy from $133.00 to $185.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. BMO Capital Markets boosted their price objective on NRG Energy from $167.00 to $185.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 6th. Melius initiated coverage on shares of NRG Energy in a report on Wednesday, August 20th. They issued a "buy" rating and a $308.00 target price on the stock. Finally, Barclays lifted their price target on shares of NRG Energy from $197.00 to $203.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, NRG Energy currently has an average rating of "Moderate Buy" and a consensus target price of $186.92.

Insider Buying and Selling at NRG Energy

In related news, VP Dak Liyanearachchi sold 10,672 shares of the company's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $155.00, for a total value of $1,654,160.00. Following the completion of the sale, the vice president directly owned 48,571 shares of the company's stock, valued at $7,528,505. This represents a 18.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.86% of the company's stock.

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.