Kingswood Wealth Advisors LLC Boosts Stake in NRG Energy, Inc. (NYSE:NRG)

Kingswood Wealth Advisors LLC boosted its holdings in NRG Energy, Inc. (NYSE:NRG) by 4.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,704 shares of the utilities provider’s stock after acquiring an additional 1,058 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in NRG Energy were worth $2,263,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Banco Santander S.A. grew its stake in shares of NRG Energy by 0.3% during the 4th quarter. Banco Santander S.A. now owns 2,828,000 shares of the utilities provider’s stock worth $255,142,000 after purchasing an additional 7,500 shares during the period. Northern Trust Corp boosted its holdings in NRG Energy by 16.1% during the fourth quarter. Northern Trust Corp now owns 2,282,672 shares of the utilities provider’s stock worth $205,943,000 after buying an additional 316,445 shares in the last quarter. Appaloosa LP increased its holdings in NRG Energy by 81.5% in the fourth quarter. Appaloosa LP now owns 1,815,000 shares of the utilities provider’s stock valued at $163,749,000 after buying an additional 815,180 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of NRG Energy by 4.2% during 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 acquiring an additional 56,944 shares during the period. Finally, Prudential Financial Inc. boosted its stake in shares of NRG Energy by 3.1% during the 4th quarter. Prudential Financial Inc. now owns 1,374,245 shares of the utilities provider’s stock worth $123,984,000 after acquiring an additional 41,094 shares in the last quarter. Institutional investors and hedge funds own 97.72% of the company’s stock.

Insiders Place Their Bets

In other news, Director Kevin Howell sold 50,000 shares of the company’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $154.50, for a total transaction of $7,725,000.00. Following the completion of the transaction, the director now owns 55,427 shares of the company’s stock, valued at $8,563,471.50. This represents a 47.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.86% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NRG has been the subject of several research analyst reports. The Goldman Sachs Group initiated coverage on NRG Energy in a research note on Friday, April 4th. They issued a “buy” rating and a $129.00 price objective for the company. Wells Fargo & Company raised their price target on NRG Energy from $165.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, May 13th. Jefferies Financial Group boosted their price objective on shares of NRG Energy from $113.00 to $132.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. BMO Capital Markets restated a “market perform” rating and set a $167.00 target price (up from $115.00) on shares of NRG Energy in a report on Wednesday, May 14th. Finally, Guggenheim upped their price target on shares of NRG Energy from $138.00 to $173.00 and gave the company a “buy” rating in a report on Tuesday, May 13th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $146.78.

NRG Energy Price Performance

NYSE:NRG opened at $152.49 on Thursday. The firm has a market cap of $29.81 billion, a price-to-earnings ratio of 24.60, a price-to-earnings-growth ratio of 1.29 and a beta of 1.13. NRG Energy, Inc. has a 12-month low of $65.11 and a 12-month high of $162.33. The company has a current ratio of 1.06, a quick ratio of 1.02 and a debt-to-equity ratio of 4.61. The company’s 50-day moving average is $133.59 and its two-hundred day moving average is $110.72.

NRG Energy (NYSE:NRG) last announced its earnings results on Monday, May 12th. The utilities provider reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $1.90. The firm had revenue of $8.59 billion for the quarter, compared to analyst estimates 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 was up 15.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.31 earnings per share. Research analysts expect that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were given 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 1.15%. NRG Energy’s dividend payout ratio (DPR) is presently 28.39%.

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.