Mitsubishi UFJ Asset Management Co. Ltd. Purchases 14,821 Shares of NRG Energy, Inc. (NYSE:NRG)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 4.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 324,494 shares of the utilities provider's stock after acquiring an additional 14,821 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.16% of NRG Energy worth $31,963,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NRG. Everence Capital Management Inc. bought a new stake in shares of NRG Energy during the fourth quarter valued at approximately $549,000. Meyer Handelman Co. boosted its position in NRG Energy by 43.8% in the 4th quarter. Meyer Handelman Co. now owns 78,982 shares of the utilities provider's stock valued at $7,126,000 after buying an additional 24,062 shares during the last quarter. Luxor Capital Group LP increased its stake in shares of NRG Energy by 47.8% in the 3rd quarter. Luxor Capital Group LP now owns 520,591 shares of the utilities provider's stock valued at $47,426,000 after buying an additional 168,267 shares during the period. Pine Valley Investments Ltd Liability Co raised its position in shares of NRG Energy by 25.1% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 50,027 shares of the utilities provider's stock worth $4,557,000 after acquiring an additional 10,031 shares during the last quarter. Finally, CWA Asset Management Group LLC bought a new position in NRG Energy in the fourth quarter valued at about $1,340,000. Institutional investors and hedge funds own 97.72% of the company's stock.

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Wall Street Analyst Weigh In

NRG has been the topic of a number of research reports. BMO Capital Markets upped their target price on shares of NRG Energy from $100.00 to $115.00 and gave the company a "market perform" rating in a research report on Monday, March 3rd. Evercore ISI raised shares of NRG Energy from an "in-line" rating to an "outperform" rating and raised their price objective for the company from $74.00 to $126.00 in a research note on Tuesday, January 21st. StockNews.com cut shares of NRG Energy from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. Wells Fargo & Company raised their price target on NRG Energy from $140.00 to $165.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Finally, Morgan Stanley lifted their price objective on NRG Energy from $86.00 to $99.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $123.29.

Insiders Place Their Bets

In other news, CFO Bruce Chung sold 20,000 shares of the company's stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $97.63, for a total value of $1,952,600.00. Following the completion of the transaction, the chief financial officer now owns 69,454 shares in the company, valued at $6,780,794.02. This represents a 22.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.86% of the company's stock.

NRG Energy Trading Down 8.4 %

Shares of NRG stock traded down $8.60 on Thursday, hitting $94.28. The stock had a trading volume of 886,239 shares, compared to its average volume of 3,186,339. 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, Inc. has a twelve month low of $65.11 and a twelve month high of $117.26. The company has a fifty day moving average price of $101.16 and a two-hundred day moving average price of $96.08. The firm has a market cap of $19.20 billion, a P/E ratio of 23.69, a PEG ratio of 1.01 and a beta of 1.13.

NRG Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.87%. This is a boost from NRG Energy's previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Monday, February 3rd. NRG Energy's payout ratio is presently 35.92%.

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.