SVB Wealth LLC Buys 2,673 Shares of NRG Energy, Inc. (NYSE:NRG)

SVB Wealth LLC increased its stake in shares of NRG Energy, Inc. (NYSE:NRG) by 38.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,671 shares of the utilities provider’s stock after acquiring an additional 2,673 shares during the quarter. SVB Wealth LLC’s holdings in NRG Energy were worth $655,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NRG. LifeSteps Financial Inc. bought a new position in NRG Energy during the first quarter valued at $31,000. Mather Group LLC. purchased a new stake in shares of NRG Energy in the first quarter valued at $33,000. Crewe Advisors LLC purchased a new stake in shares of NRG Energy in the first quarter valued at $36,000. CENTRAL TRUST Co raised its stake in shares of NRG Energy by 1,005.5% in the fourth quarter. CENTRAL TRUST Co now owns 807 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 734 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of NRG Energy by 35.4% in the fourth quarter. Blue Trust Inc. now owns 865 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 226 shares during the period. Institutional investors own 97.72% of the company’s stock.

Insider Buying and Selling at NRG Energy

In other news, insider Rasesh M. Patel sold 24,546 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $83.41, for a total value of $2,047,381.86. Following the sale, the insider now directly owns 266,064 shares in the company, valued at approximately $22,192,398.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.86% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Morgan Stanley increased their target price on shares of NRG Energy from $70.00 to $83.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 28th. Wells Fargo & Company raised their price target on shares of NRG Energy from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 15th. Finally, BMO Capital Markets raised their price target on shares of NRG Energy from $73.00 to $82.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 8th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $71.14.

NRG Energy Stock Up 0.8 %

NYSE NRG traded up $0.62 during trading on Monday, reaching $74.33. 1,374,400 shares of the company’s stock traded hands, compared to its average volume of 3,553,984. The company has a debt-to-equity ratio of 3.61, a current ratio of 1.01 and a quick ratio of 0.95. The firm has a market cap of $15.50 billion, a price-to-earnings ratio of 10.53 and a beta of 1.08. The company’s 50 day simple moving average is $79.04 and its two-hundred day simple moving average is $69.28. NRG Energy, Inc. has a 12-month low of $35.97 and a 12-month high of $87.58.

NRG Energy (NYSE:NRG) last posted its earnings results on Tuesday, May 7th. The utilities provider reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.12). The business had revenue of $7.43 billion for the quarter. NRG Energy had a net margin of 5.76% and a return on equity of 42.60%. As a group, sell-side analysts forecast that NRG Energy, Inc. will post 4.47 EPS for the current fiscal year.

NRG Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be given a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Thursday, August 1st. NRG Energy’s dividend payout ratio (DPR) is 23.09%.

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.