Convergence Investment Partners LLC acquired a new stake in NRG Energy, Inc. (NYSE:NRG – Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 9,738 shares of the utilities provider’s stock, valued at approximately $758,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NRG. Banco Santander S.A. acquired a new position in shares of NRG Energy in the second quarter worth $217,671,000. Capitolis Liquid Global Markets LLC raised its stake in shares of NRG Energy by 253.2% during the 1st quarter. Capitolis Liquid Global Markets LLC now owns 1,766,000 shares of the utilities provider’s stock worth $119,541,000 after purchasing an additional 1,266,000 shares in the last quarter. Zimmer Partners LP bought a new stake in shares of NRG Energy in the 1st quarter valued at approximately $64,306,000. Assenagon Asset Management S.A. lifted its stake in NRG Energy by 65.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,596,684 shares of the utilities provider’s stock valued at $124,318,000 after acquiring an additional 633,765 shares during the last quarter. Finally, Jupiter Asset Management Ltd. bought a new stake in NRG Energy in the first quarter worth approximately $26,448,000. Hedge funds and other institutional investors own 97.72% of the company’s stock.
NRG Energy Trading Up 2.9 %
NRG Energy stock opened at $85.01 on Tuesday. NRG Energy, Inc. has a 52 week low of $36.61 and a 52 week high of $87.58. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.11 and a current ratio of 1.18. The firm has a market capitalization of $17.54 billion, a PE ratio of 12.04 and a beta of 1.08. The business’s 50-day simple moving average is $78.26 and its 200-day simple moving average is $73.99.
NRG Energy Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were paid a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a yield of 1.92%. The ex-dividend date was Thursday, August 1st. NRG Energy’s payout ratio is currently 23.09%.
Analyst Upgrades and Downgrades
NRG has been the topic of a number of recent research reports. Wells Fargo & Company raised their price target on shares of NRG Energy from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, May 15th. Morgan Stanley boosted their price target on NRG Energy from $70.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 28th. BMO Capital Markets upped their price target on NRG Energy from $73.00 to $82.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 8th. Finally, StockNews.com downgraded NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $71.14.
Check Out Our Latest Stock Report on NRG
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.
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