Elevation Point Wealth Partners LLC Buys 7,255 Shares of NRG Energy, Inc. (NYSE:NRG)

Elevation Point Wealth Partners LLC lifted its stake in shares of NRG Energy, Inc. (NYSE:NRG) by 251.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,139 shares of the utilities provider’s stock after acquiring an additional 7,255 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in NRG Energy were worth $968,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NRG. SBI Securities Co. Ltd. bought a new position in shares of NRG Energy during the 4th quarter valued at approximately $32,000. Mizuho Bank Ltd. purchased a new position in NRG Energy in the 4th quarter worth approximately $41,000. Larson Financial Group LLC lifted its holdings in NRG Energy by 221.0% in the 4th quarter. Larson Financial Group LLC now owns 504 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 347 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in NRG Energy by 64.9% in the 4th 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 in the last quarter. Finally, Park Square Financial Group LLC purchased a new position in NRG Energy in the 4th quarter worth approximately $53,000. 97.72% of the stock is currently owned by institutional investors.

NRG Energy Stock Performance

NYSE:NRG opened at $151.81 on Friday. The stock’s fifty day moving average is $130.04 and its 200 day moving average is $109.69. NRG Energy, Inc. has a fifty-two week low of $65.11 and a fifty-two week high of $162.33. The firm has a market capitalization of $29.68 billion, a PE ratio of 38.14, a PEG ratio of 1.01 and a beta of 1.13. The company has a debt-to-equity ratio of 5.57, a quick ratio of 1.10 and a current ratio of 1.17.

NRG Energy (NYSE:NRG) last released its quarterly earnings results on Monday, May 12th. The utilities provider reported $2.62 earnings per share for the quarter, beating the consensus estimate of $0.72 by $1.90. NRG Energy had a return on equity of 48.96% and a net margin of 3.43%. The company had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.28 billion. During the same quarter in the prior year, the firm posted $2.31 EPS. NRG Energy’s quarterly revenue was up 15.6% compared to the same quarter last year. On average, sell-side analysts anticipate that NRG Energy, Inc. will post 6.36 earnings per share for the current year.

NRG Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $1.76 annualized dividend and a yield of 1.16%. NRG Energy’s payout ratio is presently 28.39%.

Insider Activity at NRG Energy

In other NRG Energy news, Director Kevin Howell sold 50,000 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $154.50, for a total value of $7,725,000.00. Following the sale, the director now owns 55,427 shares in the company, valued at $8,563,471.50. This trade 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 at this hyperlink. 0.86% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NRG has been the topic of a number of research analyst reports. BMO Capital Markets reissued a “market perform” rating and issued a $167.00 price target (up from $115.00) on shares of NRG Energy in a report on Wednesday, May 14th. Guggenheim boosted their price target on 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 cut NRG Energy from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. The Goldman Sachs Group began coverage on NRG Energy in a report on Friday, April 4th. They set a “buy” rating and a $129.00 price objective on the stock. Finally, Jefferies Financial Group upped their price objective on NRG Energy from $113.00 to $132.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $146.78.

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.