Traders Purchase Large Volume of NRG Energy Call Options (NRG)
NRG Energy Inc (NYSE:NRG) saw unusually large options trading activity on Tuesday. Investors purchased 17,073 call options on the stock. This is an increase of approximately 1,030% compared to the typical daily volume of 1,511 call options.
Shares of NRG stock opened at $42.94 on Wednesday. The company has a debt-to-equity ratio of 7.16, a quick ratio of 1.42 and a current ratio of 1.57. The stock has a market cap of $11.74 billion, a PE ratio of 17.82 and a beta of 0.78. NRG Energy has a twelve month low of $29.74 and a twelve month high of $43.13.
The company also recently declared a quarterly dividend, which was paid on Friday, February 15th. Stockholders of record on Friday, February 1st were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, January 31st. This represents a $0.12 annualized dividend and a dividend yield of 0.28%. NRG Energy’s payout ratio is 4.98%.
Several hedge funds have recently made changes to their positions in NRG. MUFG Securities EMEA plc raised its holdings in NRG Energy by 233.8% in the 4th quarter. MUFG Securities EMEA plc now owns 27,455 shares of the utilities provider’s stock valued at $1,087,000 after buying an additional 19,229 shares during the period. American Century Companies Inc. raised its holdings in NRG Energy by 244.8% in the 4th quarter. American Century Companies Inc. now owns 1,447,772 shares of the utilities provider’s stock valued at $57,332,000 after buying an additional 1,027,944 shares during the period. Teacher Retirement System of Texas increased its stake in NRG Energy by 1,046.2% during the fourth quarter. Teacher Retirement System of Texas now owns 403,763 shares of the utilities provider’s stock worth $15,989,000 after purchasing an additional 368,537 shares during the period. FMR LLC increased its stake in NRG Energy by 29.3% during the fourth quarter. FMR LLC now owns 18,293,260 shares of the utilities provider’s stock worth $724,413,000 after purchasing an additional 4,150,186 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in NRG Energy during the fourth quarter worth about $227,000. 96.43% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have issued reports on NRG. Citigroup lifted their target price on shares of NRG Energy from $38.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday, December 10th. Deutsche Bank cut shares of NRG Energy from a “buy” rating to a “hold” rating and set a $45.00 price target on the stock. in a research report on Monday, January 28th. Zacks Investment Research raised shares of NRG Energy from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Friday, January 4th. Macquarie set a $48.00 price target on shares of NRG Energy and gave the company a “buy” rating in a research report on Friday, March 1st. Finally, ValuEngine raised shares of NRG Energy from a “hold” rating to a “buy” rating in a research report on Thursday, March 7th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. NRG Energy has a consensus rating of “Buy” and an average price target of $42.57.
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NRG Energy Company Profile
NRG Energy, Inc, together with its subsidiaries, operates as an energy company in the United States. The company is involved in the producing, selling, and delivering electricity and related products and services to 3.1 million residential, industrial, and commercial consumers. It generates electricity using natural gas, coal, oil, solar, nuclear, wind, fossil fuel, and nuclear sources.
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