Accel Wealth Management Invests $250,000 in NRG Energy, Inc. (NYSE:NRG)

Accel Wealth Management purchased a new position in NRG Energy, Inc. (NYSE:NRG) in the 1st quarter, Holdings Channel reports. The firm purchased 3,700 shares of the utilities provider’s stock, valued at approximately $250,000.

Several other hedge funds have also recently modified their holdings of NRG. Mather Group LLC. purchased a new position in shares of NRG Energy in the first quarter worth $33,000. CENTRAL TRUST Co raised its stake in shares of NRG Energy by 1,005.5% in the fourth quarter. CENTRAL TRUST Co now owns 807 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 734 shares during the last quarter. Blue Trust Inc. raised its stake in shares of NRG Energy by 35.4% in the fourth quarter. Blue Trust Inc. now owns 865 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 226 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in shares of NRG Energy in the fourth quarter worth $51,000. Finally, Quadrant Capital Group LLC grew its holdings in shares of NRG Energy by 37.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,524 shares of the utilities provider’s stock worth $79,000 after acquiring an additional 412 shares during the period. Hedge funds and other institutional investors own 97.72% of the company’s stock.

NRG Energy Stock Performance

NYSE:NRG opened at $79.42 on Friday. The stock has a 50-day simple moving average of $79.79 and a two-hundred day simple moving average of $66.04. NRG Energy, Inc. has a 52-week low of $35.97 and a 52-week high of $87.58. The company has a debt-to-equity ratio of 3.61, a quick ratio of 0.95 and a current ratio of 1.01. The firm has a market capitalization of $16.56 billion, a PE ratio of 11.25 and a beta of 1.07.

NRG Energy (NYSE:NRG) last released its quarterly earnings data 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 business had revenue of $7.43 billion during the quarter. NRG Energy had a return on equity of 42.60% and a net margin of 5.76%. Analysts forecast that NRG Energy, Inc. will post 4.5 EPS for the current year.

NRG Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were paid a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Tuesday, April 30th. NRG Energy’s dividend payout ratio (DPR) is 23.09%.

Analysts Set New Price Targets

Several brokerages recently commented on NRG. Wells Fargo & Company lifted their price objective on NRG Energy from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, May 15th. BMO Capital Markets lifted their price objective on NRG Energy from $73.00 to $82.00 and gave the stock a “market perform” rating in a report on Wednesday, May 8th. Evercore ISI lifted their price objective on NRG Energy from $55.00 to $65.00 and gave the stock an “in-line” rating in a report on Monday, March 18th. Finally, Morgan Stanley lifted their price objective on NRG Energy from $70.00 to $83.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 28th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $68.00.

Insider Transactions at NRG Energy

In other news, insider Rasesh M. Patel sold 24,546 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $83.41, for a total value of $2,047,381.86. Following the completion of the transaction, the insider now owns 266,064 shares of the company’s stock, valued at $22,192,398.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.61% 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.