Resona Asset Management Co. Ltd. Acquires Shares of 62,819 NRG Energy, Inc. (NYSE:NRG)

Resona Asset Management Co. Ltd. acquired a new position in NRG Energy, Inc. (NYSE:NRG - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 62,819 shares of the utilities provider's stock, valued at approximately $5,684,000.

Several other hedge funds and other institutional investors have also bought and sold shares of NRG. SBI Securities Co. Ltd. acquired a new position in shares of NRG Energy in the fourth quarter valued at about $32,000. UMB Bank n.a. grew its holdings in NRG Energy by 100.4% during the fourth quarter. UMB Bank n.a. now owns 455 shares of the utilities provider's stock worth $41,000 after acquiring an additional 228 shares during the period. Princeton Global Asset Management LLC raised its position in NRG Energy by 414.9% during the fourth quarter. Princeton Global Asset Management LLC now owns 484 shares of the utilities provider's stock valued at $44,000 after acquiring an additional 390 shares in the last quarter. Larson Financial Group LLC lifted its holdings in NRG Energy by 221.0% in the fourth quarter. Larson Financial Group LLC now owns 504 shares of the utilities provider's stock valued at $45,000 after acquiring an additional 347 shares during the period. Finally, Grove Bank & Trust grew its stake in shares of NRG Energy by 29.7% during the 4th quarter. Grove Bank & Trust now owns 564 shares of the utilities provider's stock worth $51,000 after purchasing an additional 129 shares during the period. Institutional investors own 97.72% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on NRG. Guggenheim increased their target price on shares of NRG Energy from $134.00 to $145.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Morgan Stanley upped their target price on NRG Energy from $86.00 to $99.00 and gave the company an "equal weight" rating in a report on Wednesday, February 19th. Evercore ISI upgraded shares of NRG Energy from an "in-line" rating to an "outperform" rating and raised their price objective for the stock from $74.00 to $126.00 in a research report on Tuesday, January 21st. BMO Capital Markets lifted their price target 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. Finally, The Goldman Sachs Group initiated coverage on NRG Energy in a research note on Friday, April 4th. They issued a "buy" rating and a $129.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $124.00.

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NRG Energy Stock Up 2.3 %

Shares of NRG Energy stock traded up $2.20 during trading hours on Monday, reaching $96.67. 186,293 shares of the company were exchanged, compared to its average volume of 3,060,482. The firm has a market cap of $19.69 billion, a PE ratio of 24.29, a PEG ratio of 1.01 and a beta of 1.10. The stock's fifty day moving average is $98.83 and its 200 day moving average is $96.42. NRG Energy, Inc. has a 1 year low of $65.11 and a 1 year high of $117.26. The company has a debt-to-equity ratio of 5.57, a quick ratio of 1.10 and a current ratio of 1.17.

NRG Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Thursday, May 1st. NRG Energy's dividend payout ratio is currently 35.92%.

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.