Belpointe Asset Management LLC Increases Stock Position in NRG Energy, Inc. $NRG

Belpointe Asset Management LLC boosted its stake in NRG Energy, Inc. (NYSE:NRG) by 21.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,312 shares of the utilities provider’s stock after purchasing an additional 1,094 shares during the quarter. Belpointe Asset Management LLC’s holdings in NRG Energy were worth $603,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Zions Bancorporation National Association UT purchased a new stake in NRG Energy in the 1st quarter worth $28,000. Key Financial Inc purchased a new stake in NRG Energy in the 1st quarter worth $30,000. Evermay Wealth Management LLC purchased a new stake in NRG Energy in the 1st quarter worth $36,000. Park Square Financial Group LLC purchased a new stake in NRG Energy in the 4th quarter worth $53,000. Finally, UMB Bank n.a. raised its position in shares of NRG Energy by 44.0% during the 1st quarter. UMB Bank n.a. now owns 655 shares of the utilities provider’s stock valued at $63,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 97.72% of the company’s stock.

NRG Energy Price Performance

Shares of NRG stock opened at $165.06 on Friday. The company has a debt-to-equity ratio of 5.99, a current ratio of 0.93 and a quick ratio of 0.88. The company has a market capitalization of $31.93 billion, a P/E ratio of 74.69, a P/E/G ratio of 1.29 and a beta of 1.17. The company’s 50-day simple moving average is $153.23 and its two-hundred day simple moving average is $133.81. NRG Energy, Inc. has a one year low of $77.49 and a one year high of $175.96.

NRG Energy (NYSE:NRG) last issued its earnings results on Wednesday, August 6th. The utilities provider reported $1.68 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.04). The company had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.63 billion. NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.NRG Energy’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.37 earnings per share. As a group, equities analysts anticipate that NRG Energy, Inc. will post 6.36 EPS for the current year.

NRG Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were paid a dividend of $0.44 per share. The ex-dividend date was Friday, August 1st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.1%. NRG Energy’s dividend payout ratio (DPR) is currently 79.64%.

Insider Activity

In other news, VP Dak Liyanearachchi sold 10,672 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $155.00, for a total transaction of $1,654,160.00. Following the transaction, the vice president directly owned 48,571 shares in the company, valued at approximately $7,528,505. This trade represents a 18.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NRG shares. Wall Street Zen cut shares of NRG Energy from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Melius started coverage on shares of NRG Energy in a research report on Wednesday, August 20th. They set a “buy” rating and a $308.00 target price on the stock. Raymond James Financial started coverage on shares of NRG Energy in a research report on Friday, June 13th. They set a “strong-buy” rating and a $195.00 target price on the stock. Barclays upped their target price on shares of NRG Energy from $197.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Finally, BMO Capital Markets upped their target price on shares of NRG Energy from $167.00 to $185.00 and gave the company a “market perform” rating in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $186.92.

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.