Weiss Asset Management LP Makes New $233,000 Investment in NRG Energy, Inc. (NYSE:NRG)

Weiss Asset Management LP bought a new position in shares of NRG Energy, Inc. (NYSE:NRGFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,510 shares of the utilities provider’s stock, valued at approximately $233,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Schonfeld Strategic Advisors LLC lifted its position in NRG Energy by 3,477.2% during the third quarter. Schonfeld Strategic Advisors LLC now owns 976,589 shares of the utilities provider’s stock valued at $37,618,000 after purchasing an additional 949,289 shares during the last quarter. Wellington Management Group LLP increased its position in NRG Energy by 486.2% during the 3rd quarter. Wellington Management Group LLP now owns 900,526 shares of the utilities provider’s stock valued at $34,688,000 after purchasing an additional 746,899 shares during the period. Hsbc Holdings PLC increased its position in NRG Energy by 105.1% during the 3rd quarter. Hsbc Holdings PLC now owns 1,346,647 shares of the utilities provider’s stock valued at $51,642,000 after purchasing an additional 689,941 shares during the period. Rubric Capital Management LP increased its position in NRG Energy by 91.6% during the 3rd quarter. Rubric Capital Management LP now owns 1,318,020 shares of the utilities provider’s stock valued at $50,770,000 after purchasing an additional 629,993 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of NRG Energy by 139.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 913,237 shares of the utilities provider’s stock valued at $35,178,000 after buying an additional 532,320 shares in the last quarter. Institutional investors own 97.72% of the company’s stock.

Insider Buying and Selling

In other news, insider Rasesh M. Patel sold 24,546 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $83.41, for a total transaction of $2,047,381.86. Following the completion of the transaction, the insider now directly owns 266,064 shares in the company, valued at approximately $22,192,398.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Rasesh M. Patel sold 49,092 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $62.59, for a total transaction of $3,072,668.28. Following the transaction, the vice president now owns 356,962 shares in the company, valued at $22,342,251.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Rasesh M. Patel sold 24,546 shares of NRG Energy stock in a transaction dated Friday, May 17th. The shares were 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 in the company, valued at approximately $22,192,398.24. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by insiders.

NRG Energy Stock Performance

Shares of NYSE NRG traded up $0.91 during midday trading on Thursday, hitting $84.44. 834,265 shares of the company’s stock traded hands, compared to its average volume of 3,629,734. NRG Energy, Inc. has a 1 year low of $31.68 and a 1 year high of $87.58. The stock has a market capitalization of $17.60 billion, a price-to-earnings ratio of 11.80 and a beta of 1.11. 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 fifty day moving average of $75.18 and a 200 day moving average of $60.30.

NRG Energy (NYSE:NRGGet Free Report) last released its earnings results on Tuesday, May 7th. The utilities provider reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.12). NRG Energy had a return on equity of 42.60% and a net margin of 5.76%. On average, analysts forecast that NRG Energy, Inc. will post 5.46 earnings per share for the current year.

NRG Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were issued a $0.4075 dividend. This represents a $1.63 annualized dividend and a yield of 1.93%. The ex-dividend date was Tuesday, April 30th. NRG Energy’s dividend payout ratio is 23.09%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on NRG shares. StockNews.com upgraded shares of NRG Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Morgan Stanley upped their target price on shares of NRG Energy from $70.00 to $83.00 and gave the company an “equal weight” rating in a research note on Tuesday. Evercore ISI upped their target price on shares of NRG Energy from $55.00 to $65.00 and gave the company an “in-line” rating in a research note on Monday, March 18th. Citigroup upped their target price on shares of NRG Energy from $52.00 to $62.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, BMO Capital Markets upped their target price on shares of NRG Energy from $73.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday, May 8th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $68.00.

View Our Latest Research Report on NRG

NRG Energy Company Profile

(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.

See Also

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Institutional Ownership by Quarter for NRG Energy (NYSE:NRG)

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