Zurcher Kantonalbank Zurich Cantonalbank Boosts Stake in NRG Energy, Inc. (NYSE:NRG)

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank has increased its stake in NRG Energy by 64.8%, owning approximately 163,393 shares valued at $15,597,000 as of its latest SEC filing.
• Various other institutional investors, including Northern Trust Corp and Bridgewater Associates LP, have also boosted their holdings, indicating strong confidence in NRG Energy, which is currently owned 97.72% by institutional investors.
• Analysts have given NRG Energy an average rating of "Moderate Buy", with target prices ranging significantly, including a recent high of $197.00 set by Barclays.

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in NRG Energy, Inc. (NYSE:NRG - Free Report) by 64.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 163,393 shares of the utilities provider's stock after buying an additional 64,241 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.08% of NRG Energy worth $15,597,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of NRG. Northern Trust Corp increased its holdings in shares of NRG Energy by 16.1% in the fourth quarter. Northern Trust Corp now owns 2,282,672 shares of the utilities provider's stock worth $205,943,000 after acquiring an additional 316,445 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of NRG Energy by 4.2% in the 4th quarter. Russell Investments Group Ltd. now owns 1,414,186 shares of the utilities provider's stock valued at $127,614,000 after purchasing an additional 56,944 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in NRG Energy by 17.5% during the 4th 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 acquiring an additional 182,438 shares during the last quarter. Bridgewater Associates LP grew its position in shares of NRG Energy by 47.3% in the 4th quarter. Bridgewater Associates LP now owns 1,185,365 shares of the utilities provider's stock valued at $106,944,000 after buying an additional 380,564 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of 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 purchasing an additional 242,010 shares during the period. 97.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Kevin Howell sold 50,000 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $154.50, for a total transaction of $7,725,000.00. Following the transaction, the director directly owned 55,427 shares of the company's stock, valued at approximately $8,563,471.50. This represents a 47.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.86% of the stock is owned by company insiders.

NRG Energy Trading Up 0.4%

Shares of NRG Energy stock traded up $0.63 on Friday, hitting $167.83. 2,557,564 shares of the company traded hands, compared to its average volume of 2,544,449. The stock's 50 day moving average price is $155.33 and its 200-day moving average price is $124.09. The company has a current ratio of 1.06, a quick ratio of 1.02 and a debt-to-equity ratio of 4.61. NRG Energy, Inc. has a 52 week low of $65.11 and a 52 week high of $169.24. The company has a market cap of $32.81 billion, a PE ratio of 27.07, a PEG ratio of 1.39 and a beta of 1.14.

NRG Energy (NYSE:NRG - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The utilities provider reported $2.62 EPS for the quarter, topping analysts' consensus estimates of $0.72 by $1.90. The company 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%. NRG Energy's revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.31 earnings per share. Equities research analysts predict that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $1.76 dividend on an annualized basis and a yield of 1.0%. NRG Energy's payout ratio is 28.39%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Citigroup upped their target price on NRG Energy from $133.00 to $185.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Jefferies Financial Group boosted their target price on NRG Energy from $113.00 to $132.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Wells Fargo & Company upped their target price on NRG Energy from $165.00 to $200.00 and gave the stock an "overweight" rating in a report on Tuesday, May 13th. BMO Capital Markets restated a "market perform" rating and issued a $167.00 price target (up previously from $115.00) on shares of NRG Energy in a research note on Wednesday, May 14th. Finally, Raymond James Financial initiated coverage on NRG Energy in a research report on Friday, June 13th. They issued a "strong-buy" rating and a $195.00 price objective on the stock. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $160.30.

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.