234,634 Shares in NRG Energy, Inc. (NYSE:NRG) Acquired by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC acquired a new stake in NRG Energy, Inc. (NYSE:NRG) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 234,634 shares of the utilities provider’s stock, valued at approximately $12,131,000. Wedge Capital Management L L P NC owned 0.10% of NRG Energy at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Duality Advisers LP increased its position in NRG Energy by 185.6% in the fourth quarter. Duality Advisers LP now owns 29,880 shares of the utilities provider’s stock worth $1,545,000 after purchasing an additional 19,417 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of NRG Energy by 2.3% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 23,997 shares of the utilities provider’s stock worth $1,241,000 after acquiring an additional 540 shares during the last quarter. Signaturefd LLC increased its holdings in shares of NRG Energy by 6.9% during the 4th quarter. Signaturefd LLC now owns 4,174 shares of the utilities provider’s stock worth $216,000 after acquiring an additional 271 shares during the last quarter. abrdn plc grew its holdings in NRG Energy by 71.6% in the 4th quarter. abrdn plc now owns 96,473 shares of the utilities provider’s stock valued at $4,988,000 after buying an additional 40,267 shares in the last quarter. Finally, Greenleaf Trust grew its holdings in NRG Energy by 11.5% in the 4th quarter. Greenleaf Trust now owns 8,357 shares of the utilities provider’s stock valued at $432,000 after buying an additional 864 shares in the last quarter. 97.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NRG has been the subject of a number of recent analyst reports. Evercore ISI upped their target price on NRG Energy from $55.00 to $65.00 and gave the company an “in-line” rating in a research report on Monday, March 18th. Wells Fargo & Company upped their price objective on NRG Energy from $78.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, March 25th. BMO Capital Markets upped their price objective on NRG Energy from $58.00 to $59.00 and gave the stock a “market perform” rating in a research report on Thursday, February 29th. Morgan Stanley increased their target price on NRG Energy from $51.00 to $63.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 26th. Finally, Citigroup increased their target price on NRG Energy from $52.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $59.50.

NRG Energy Stock Up 1.6 %

Shares of NRG traded up $1.12 on Tuesday, reaching $71.51. The stock had a trading volume of 285,137 shares, compared to its average volume of 3,647,051. The company has a 50-day simple moving average of $63.53 and a 200-day simple moving average of $53.46. The firm has a market capitalization of $15.36 billion, a price-to-earnings ratio of -65.78 and a beta of 1.13. NRG Energy, Inc. has a 12-month low of $30.52 and a 12-month high of $76.54. The company has a debt-to-equity ratio of 4.49, a quick ratio of 0.96 and a current ratio of 1.02.

NRG Energy (NYSE:NRG) last posted its earnings results on Wednesday, February 28th. The utilities provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.20. NRG Energy had a positive return on equity of 44.03% and a negative net margin of 0.70%. The business had revenue of $6.81 billion during the quarter, compared to analyst estimates of $7.51 billion. Sell-side analysts predict that NRG Energy, Inc. will post 5.36 EPS for the current year.

NRG Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Tuesday, April 30th. NRG Energy’s payout ratio is currently -152.34%.

Insider Buying and Selling

In other news, VP Rasesh M. Patel sold 49,092 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $62.59, for a total transaction of $3,072,668.28. Following the completion of the sale, the vice president now directly owns 356,962 shares of the company’s stock, valued at $22,342,251.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is currently owned by company insiders.

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.