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

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

Other large investors have also recently bought and sold shares of the company. Headlands Technologies LLC bought a new stake in shares of NRG Energy in the 4th quarter valued at $118,000. Raymond James & Associates lifted its stake in NRG Energy by 81.1% in the 4th quarter. Raymond James & Associates now owns 305,917 shares of the utilities provider’s stock valued at $15,816,000 after purchasing an additional 136,968 shares during the last quarter. Friedenthal Financial acquired a new stake in NRG Energy during the fourth quarter worth approximately $743,000. Gotham Asset Management LLC lifted its position in NRG Energy by 93.1% during the fourth quarter. Gotham Asset Management LLC now owns 357,618 shares of the utilities provider’s stock worth $18,489,000 after acquiring an additional 172,400 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in NRG Energy by 885.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 237,444 shares of the utilities provider’s stock worth $16,073,000 after acquiring an additional 213,347 shares during the last quarter. Institutional investors and hedge funds own 97.72% of the company’s stock.

Analysts Set New Price Targets

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

NRG Energy Price Performance

NYSE:NRG traded up $0.62 during mid-day trading on Monday, reaching $74.33. The stock had a trading volume of 1,374,400 shares, compared to its average volume of 3,553,984. The stock has a 50-day simple moving average of $79.04 and a two-hundred day simple moving average of $69.28. The stock has a market capitalization of $15.50 billion, a PE ratio of 10.53 and a beta of 1.08. The company has a debt-to-equity ratio of 3.61, a current ratio of 1.01 and a quick ratio of 0.95. 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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.12). The company had revenue of $7.43 billion for the quarter. NRG Energy had a return on equity of 42.60% and a net margin of 5.76%. On average, equities analysts anticipate that NRG Energy, Inc. will post 4.47 earnings per share for the current year.

NRG Energy Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Rasesh M. Patel sold 24,546 shares of NRG Energy stock in a transaction on Friday, May 17th. The shares were sold at an average price of $83.41, for a total transaction of $2,047,381.86. Following the transaction, the insider now owns 266,064 shares in the company, valued at $22,192,398.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.86% of the company’s stock.

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.