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

Elevation Point Wealth Partners LLC raised its stake in NRG Energy, Inc. (NYSE:NRG) by 251.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 10,139 shares of the utilities provider’s stock after purchasing 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 quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in shares of NRG Energy during the fourth quarter valued at approximately $32,000. Townsquare Capital LLC increased its stake in shares of NRG Energy by 97.4% during the fourth quarter. Townsquare Capital LLC now owns 5,233 shares of the utilities provider’s stock valued at $472,000 after buying an additional 2,582 shares during the period. Graham Capital Management L.P. purchased a new position in shares of NRG Energy during the fourth quarter valued at approximately $276,000. Sanctuary Advisors LLC increased its stake in shares of NRG Energy by 2.5% during the fourth quarter. Sanctuary Advisors LLC now owns 99,317 shares of the utilities provider’s stock valued at $8,960,000 after buying an additional 2,462 shares during the period. Finally, Jones Financial Companies Lllp increased its stake in shares of NRG Energy by 85.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,817 shares of the utilities provider’s stock valued at $164,000 after buying an additional 835 shares during the period. Institutional investors own 97.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Raymond James assumed coverage on NRG Energy in a research note on Friday. They set a “strong-buy” rating and a $195.00 target price on the stock. Wells Fargo & Company boosted their target price on NRG Energy from $165.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, May 13th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $167.00 price target (up from $115.00) on shares of NRG Energy in a research note on Wednesday, May 14th. The Goldman Sachs Group started coverage on NRG Energy in a research note on Friday, April 4th. They issued a “buy” rating and a $129.00 price target on the stock. Finally, Guggenheim upped 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. Three investment 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $146.78.

NRG Energy Trading Up 0.5%

NRG Energy stock opened at $151.81 on Friday. The company has a debt-to-equity ratio of 5.57, a current ratio of 1.17 and a quick ratio of 1.10. NRG Energy, Inc. has a one year low of $65.11 and a one year high of $162.33. The stock has a market capitalization 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. The business’s fifty day moving average is $130.04 and its 200 day moving average is $109.69.

NRG Energy (NYSE:NRG) last released its quarterly earnings data on Monday, May 12th. The utilities provider reported $2.62 EPS 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 analysts’ expectations of $8.28 billion. During the same period last year, the firm posted $2.31 earnings per share. NRG Energy’s revenue was up 15.6% compared to the same quarter last year. On average, sell-side analysts predict that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Dividend Announcement

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

Insiders Place Their Bets

In other NRG Energy news, Director Kevin Howell sold 50,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 55,427 shares of the company’s stock, valued at approximately $8,563,471.50. This trade 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. Insiders own 0.86% of the company’s stock.

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.