Spire Wealth Management Increases Position in NRG Energy, Inc. (NYSE:NRG)

Spire Wealth Management increased its stake in shares of NRG Energy, Inc. (NYSE:NRG) by 55.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 4,391 shares of the utilities provider’s stock after purchasing an additional 1,560 shares during the period. Spire Wealth Management’s holdings in NRG Energy were worth $419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in NRG. Golden State Equity Partners acquired a new position in NRG Energy during the first quarter worth $222,000. Asset Management One Co. Ltd. lifted its holdings in shares of NRG Energy by 5.4% in the first quarter. Asset Management One Co. Ltd. now owns 81,893 shares of the utilities provider’s stock valued at $7,818,000 after purchasing an additional 4,169 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in NRG Energy by 74.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 15,254 shares of the utilities provider’s stock valued at $1,456,000 after buying an additional 6,521 shares during the last quarter. TrueMark Investments LLC increased its position in NRG Energy by 30.3% during the 1st quarter. TrueMark Investments LLC now owns 57,317 shares of the utilities provider’s stock worth $5,471,000 after purchasing an additional 13,333 shares in the last quarter. Finally, Heartland Bank & Trust Co acquired a new position in shares of NRG Energy in the first quarter valued at approximately $385,000. 97.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NRG Energy

In related 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 completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

NRG has been the topic of several recent analyst reports. Barclays set a $197.00 price objective on shares of NRG Energy and gave the stock an “overweight” rating in a report on Thursday. Jefferies Financial Group upped their price target on NRG Energy from $113.00 to $132.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Wells Fargo & Company raised 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. Raymond James Financial began coverage on shares of NRG Energy in a research note on Friday, June 13th. They issued a “strong-buy” rating and a $195.00 price target for the company. Finally, Guggenheim boosted their price objective on NRG Energy from $138.00 to $173.00 and gave the company a “buy” rating in a report on Tuesday, May 13th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, NRG Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.80.

NRG Energy Stock Performance

Shares of NRG opened at $162.79 on Friday. The company has a market cap of $31.83 billion, a price-to-earnings ratio of 26.26, a price-to-earnings-growth ratio of 1.29 and a beta of 1.13. The firm has a fifty day moving average of $141.87 and a 200-day moving average of $113.59. NRG Energy, Inc. has a 1 year low of $65.11 and a 1 year high of $168.57. The company has a debt-to-equity ratio of 4.61, a quick ratio of 1.02 and a current ratio of 1.06.

NRG Energy (NYSE:NRG) last announced its quarterly 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 company had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.28 billion. NRG Energy had a return on equity of 73.78% and a net margin of 4.66%. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.31 EPS. As a group, equities analysts anticipate that NRG Energy, Inc. will post 6.36 earnings per share for the current year.

NRG Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date was Thursday, May 1st. NRG Energy’s payout ratio is currently 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.