Electron Capital Partners LLC raised its stake in shares of NRG Energy Inc (NYSE:NRG) by 43.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,291,008 shares of the utilities provider’s stock after purchasing an additional 388,637 shares during the quarter. NRG Energy accounts for 6.2% of Electron Capital Partners LLC’s portfolio, making the stock its 3rd largest holding. Electron Capital Partners LLC owned approximately 0.41% of NRG Energy worth $36,768,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its holdings in shares of NRG Energy by 3,685.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,785 shares of the utilities provider’s stock worth $108,000 after acquiring an additional 3,685 shares in the last quarter. NuWave Investment Management LLC acquired a new position in shares of NRG Energy in the 4th quarter worth approximately $116,000. Invictus RG acquired a new position in shares of NRG Energy in the 3rd quarter worth approximately $110,000. Itau Unibanco Holding S.A. boosted its holdings in shares of NRG Energy by 122.7% in the 4th quarter. Itau Unibanco Holding S.A. now owns 4,815 shares of the utilities provider’s stock worth $137,000 after acquiring an additional 2,653 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of NRG Energy by 54.7% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,076 shares of the utilities provider’s stock worth $175,000 after acquiring an additional 2,148 shares in the last quarter. 97.31% of the stock is currently owned by institutional investors.
NRG Energy Inc (NYSE:NRG) opened at $29.75 on Monday. The company has a quick ratio of 1.17, a current ratio of 1.33 and a debt-to-equity ratio of 7.99. NRG Energy Inc has a 1 year low of $14.52 and a 1 year high of $29.89. The firm has a market cap of $9,449.73, a P/E ratio of -4.37 and a beta of 1.10.
NRG Energy declared that its board has authorized a stock repurchase program on Thursday, March 1st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the utilities provider to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Thursday, February 1st were given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.40%. The ex-dividend date was Wednesday, January 31st. NRG Energy’s dividend payout ratio (DPR) is presently -1.76%.
Several brokerages have recently commented on NRG. Zacks Investment Research downgraded NRG Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 3rd. ValuEngine downgraded NRG Energy from a “buy” rating to a “hold” rating in a report on Friday, December 1st. TheStreet downgraded NRG Energy from a “c” rating to a “d+” rating in a report on Thursday, March 1st. Finally, UBS Group began coverage on NRG Energy in a report on Friday, February 23rd. They issued a “buy” rating and a $33.00 target price on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $26.88.
About NRG Energy
NRG Energy, Inc (NRG) is an integrated power company. The Company is engaged in producing, selling and delivering electricity and related products and services in various markets in the United States. The Company’s segments include Generation, Retail, Renewables, NRG Yield, Inc (NRG Yield) and Corporate activities.
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