Arvest Investments Inc. Makes New $1.02 Million Investment in NRG Energy, Inc. (NYSE:NRG)

Arvest Investments Inc. bought a new position in NRG Energy, Inc. (NYSE:NRG) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,720 shares of the utilities provider’s stock, valued at approximately $1,023,000.

A number of other hedge funds have also added to or reduced their stakes in NRG. Boston Partners bought a new stake in NRG Energy in the fourth quarter worth approximately $94,346,000. 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 worth $163,749,000 after purchasing an additional 815,180 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in NRG Energy by 350.4% in the fourth quarter. Teacher Retirement System of Texas now owns 904,265 shares of the utilities provider’s stock worth $81,583,000 after purchasing an additional 703,481 shares in the last quarter. Raymond James Financial Inc. bought a new stake in NRG Energy in the fourth quarter worth approximately $61,679,000. Finally, GAMMA Investing LLC increased its holdings in NRG Energy by 10,483.2% in the first quarter. GAMMA Investing LLC now owns 661,347 shares of the utilities provider’s stock worth $63,132,000 after purchasing an additional 655,098 shares in the last quarter. 97.72% of the stock is currently owned by institutional investors.

NRG Energy Stock Up 1.2%

Shares of NYSE:NRG opened at $150.89 on Friday. The stock has a market cap of $29.50 billion, a price-to-earnings ratio of 37.91, a PEG ratio of 1.01 and a beta of 1.13. The company has a quick ratio of 1.10, a current ratio of 1.17 and a debt-to-equity ratio of 5.57. NRG Energy, Inc. has a 12-month low of $65.11 and a 12-month high of $162.33. The business’s 50 day moving average is $128.72 and its 200 day moving average is $109.27.

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, beating the consensus estimate of $0.72 by $1.90. The company had revenue of $8.59 billion for the quarter, compared to analysts’ expectations of $8.28 billion. NRG Energy had a return on equity of 48.96% and a net margin of 3.43%. NRG Energy’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.31 earnings per share. On average, sell-side analysts forecast that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy Announces Dividend

The business 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 was Thursday, May 1st. This represents a $1.76 annualized dividend and a dividend yield of 1.17%. 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 business’s 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 transaction, the director now owns 55,427 shares of the company’s stock, valued at approximately $8,563,471.50. The trade was a 47.43% 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. Insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

NRG has been the subject of several recent research reports. Morgan Stanley boosted their price objective on NRG Energy from $86.00 to $99.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. 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. Wells Fargo & Company boosted their price objective on NRG Energy from $165.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, May 13th. Jefferies Financial Group boosted their price objective on NRG Energy from $113.00 to $132.00 and gave the company a “buy” rating in a report on Monday, May 5th. Finally, Wall Street Zen downgraded NRG Energy from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, NRG Energy has a consensus rating of “Moderate Buy” and a consensus price target of $140.75.

NRG Energy 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.