Clearbridge Investments LLC lifted its stake in NRG Energy, Inc. (NYSE:NRG - Free Report) by 22.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 41,221 shares of the utilities provider's stock after purchasing an additional 7,469 shares during the quarter. Clearbridge Investments LLC's holdings in NRG Energy were worth $3,719,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of NRG. Brandywine Global Investment Management LLC boosted its holdings in shares of NRG Energy by 4.7% in the fourth quarter. Brandywine Global Investment Management LLC now owns 1,120,265 shares of the utilities provider's stock worth $101,070,000 after buying an additional 49,823 shares during the period. CIBC Private Wealth Group LLC boosted its stake in NRG Energy by 64.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 521 shares of the utilities provider's stock worth $51,000 after purchasing an additional 205 shares during the period. Schroder Investment Management Group grew its position in NRG Energy by 34.2% during the 4th quarter. Schroder Investment Management Group now owns 684,373 shares of the utilities provider's stock worth $63,065,000 after purchasing an additional 174,544 shares in the last quarter. L & S Advisors Inc acquired a new stake in NRG Energy during the 4th quarter valued at $3,139,000. Finally, Allstate Corp purchased a new stake in shares of NRG Energy in the fourth quarter valued at $546,000. Hedge funds and other institutional investors own 97.72% of the company's stock.
NRG Energy Stock Up 2.4 %
NYSE NRG traded up $2.06 during trading on Tuesday, reaching $89.30. The company's stock had a trading volume of 666,483 shares, compared to its average volume of 3,265,453. The business has a 50-day moving average price of $100.03 and a 200-day moving average price of $96.32. NRG Energy, Inc. has a 1-year low of $65.11 and a 1-year high of $117.26. The stock has a market capitalization of $18.19 billion, a PE ratio of 22.41, a PEG ratio of 1.01 and a beta of 1.10. The company has a current ratio of 1.17, a quick ratio of 1.10 and a debt-to-equity ratio of 5.57.
NRG Energy Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were issued a $0.44 dividend. The ex-dividend date was Monday, February 3rd. This is a boost from NRG Energy's previous quarterly dividend of $0.41. This represents a $1.76 dividend on an annualized basis and a yield of 1.97%. NRG Energy's dividend payout ratio is currently 35.92%.
Wall Street Analyst Weigh In
NRG has been the topic of several recent analyst reports. Wells Fargo & Company upped their price target on NRG Energy from $140.00 to $165.00 and gave the company an "overweight" rating in a research report on Thursday, February 27th. The Goldman Sachs Group started coverage on NRG Energy in a report on Friday. They issued a "buy" rating and a $129.00 target price on the stock. BMO Capital Markets raised their price target on shares of NRG Energy from $100.00 to $115.00 and gave the stock a "market perform" rating in a report on Monday, March 3rd. StockNews.com lowered shares of NRG Energy from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. Finally, Evercore ISI raised shares of NRG Energy from an "in-line" rating to an "outperform" rating and lifted their target price for the company from $74.00 to $126.00 in a research note on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $124.00.
Read Our Latest Stock Report on NRG Energy
Insider Buying and Selling at NRG Energy
In other NRG Energy news, CFO Bruce Chung sold 20,000 shares of the company's stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $97.63, for a total transaction of $1,952,600.00. Following the completion of the sale, the chief financial officer now owns 69,454 shares of the company's stock, valued at $6,780,794.02. This represents a 22.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.86% of the company's stock.
About NRG Energy
(
Free Report)
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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