Opal Wealth Advisors LLC Makes New Investment in NRG Energy, Inc. (NYSE:NRG)

Opal Wealth Advisors LLC bought a new position in NRG Energy, Inc. (NYSE:NRG) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,974 shares of the utilities provider’s stock, valued at approximately $188,000.

Several other hedge funds have also added to or reduced their stakes in NRG. SBI Securities Co. Ltd. bought a new stake in NRG Energy in the fourth quarter worth $32,000. Mizuho Bank Ltd. purchased a new position in shares of NRG Energy in the fourth quarter worth $41,000. Larson Financial Group LLC raised its stake in shares of NRG Energy by 221.0% in the fourth quarter. Larson Financial Group LLC now owns 504 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 347 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of NRG Energy by 64.9% in the fourth 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 during the last quarter. Finally, Park Square Financial Group LLC purchased a new position in shares of NRG Energy in the fourth quarter worth $53,000. 97.72% of the stock is owned by institutional investors.

NRG Energy Stock Up 0.5%

NRG Energy stock opened at $151.81 on Friday. The company has a debt-to-equity ratio of 5.57, a quick ratio of 1.10 and a current ratio of 1.17. The stock has a fifty day moving average of $130.04 and a 200 day moving average of $109.69. The stock has a market cap of $29.68 billion, a PE ratio of 38.14, a price-to-earnings-growth ratio of 1.01 and a beta of 1.13. NRG Energy, Inc. has a one year low of $65.11 and a one year high of $162.33.

NRG Energy (NYSE:NRG) last issued its quarterly earnings results 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 business had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.28 billion. NRG Energy had a return on equity of 48.96% and a net margin of 3.43%. The business’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.31 earnings per share. As a group, sell-side analysts predict that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Kevin Howell sold 50,000 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 55,427 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Company insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Guggenheim boosted their price target on NRG Energy from $138.00 to $173.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. Raymond James assumed coverage on NRG Energy in a research note on Friday. They issued a “strong-buy” rating and a $195.00 price target for the company. 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. Jefferies Financial Group boosted their price target on NRG Energy from $113.00 to $132.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Finally, Morgan Stanley upped their price objective on NRG Energy from $86.00 to $99.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NRG Energy has a consensus rating of “Moderate Buy” and an average target price of $146.78.

NRG Energy Company 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.