NRG Energy, Inc. (NYSE:NRG) Shares Acquired by Carret Asset Management LLC

Carret Asset Management LLC raised its position in shares of NRG Energy, Inc. (NYSE:NRG) by 6.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,810 shares of the utilities provider’s stock after acquiring an additional 510 shares during the quarter. Carret Asset Management LLC’s holdings in NRG Energy were worth $455,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Harvest Fund Management Co. Ltd boosted its position in shares of NRG Energy by 131.3% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 3,448 shares of the utilities provider’s stock worth $178,000 after buying an additional 1,957 shares during the period. GAMMA Investing LLC purchased a new position in shares of NRG Energy during the fourth quarter worth $106,000. National Wealth Management Group LLC purchased a new position in shares of NRG Energy during the fourth quarter worth $344,000. California Public Employees Retirement System boosted its position in shares of NRG Energy by 0.6% during the fourth quarter. California Public Employees Retirement System now owns 438,530 shares of the utilities provider’s stock worth $22,672,000 after buying an additional 2,545 shares during the period. Finally, Wedge Capital Management L L P NC purchased a new position in shares of NRG Energy during the fourth quarter worth $12,131,000. Institutional investors and hedge funds own 97.72% of the company’s stock.

Wall Street Analyst Weigh In

NRG has been the topic of several analyst reports. Wells Fargo & Company increased their price objective on NRG Energy from $78.00 to $85.00 and gave the company an “overweight” rating in a research note on Monday, March 25th. StockNews.com upgraded NRG Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. BMO Capital Markets increased their price objective on NRG Energy from $58.00 to $59.00 and gave the company a “market perform” rating in a research note on Thursday, February 29th. TheStreet upgraded NRG Energy from a “c+” rating to a “b” rating in a research note on Friday, December 29th. Finally, Evercore ISI raised their price target on NRG Energy from $55.00 to $65.00 and gave the company an “in-line” rating in a research note on Monday, March 18th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, NRG Energy currently has an average rating of “Hold” and a consensus price target of $59.50.

Insider Activity

In related news, VP Rasesh M. Patel sold 49,092 shares of the company’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 approximately $22,342,251.58. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.86% of the company’s stock.

NRG Energy Stock Performance

NRG traded up $0.02 during trading on Thursday, reaching $72.63. The company’s stock had a trading volume of 610,741 shares, compared to its average volume of 3,635,906. NRG Energy, Inc. has a 52-week low of $30.52 and a 52-week high of $76.54. The company’s fifty day moving average price is $64.34 and its 200-day moving average price is $53.82. The company has a market capitalization of $15.60 billion, a price-to-earnings ratio of -67.87 and a beta of 1.13. 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 quarterly earnings results on Wednesday, February 28th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.20. NRG Energy had a negative net margin of 0.70% and a positive return on equity of 44.03%. The company had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $7.51 billion. On average, equities analysts forecast that NRG Energy, Inc. will post 5.36 earnings per share for the current fiscal year.

NRG Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a $0.4075 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.63 annualized dividend and a yield of 2.24%. NRG Energy’s dividend payout ratio (DPR) is presently -152.34%.

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.