An issue of NRG Energy Inc (NYSE:NRG) bonds rose 1% as a percentage of their face value during trading on Tuesday. The high-yield debt issue has a 7.25% coupon and is set to mature on May 15, 2026. The debt is now trading at $107.25 and was trading at $106.75 one week ago. Price changes in a company’s bonds in credit markets sometimes anticipate parallel changes in its stock price.
NRG has been the topic of a number of analyst reports. Zacks Investment Research raised shares of NRG Energy from a “sell” rating to a “hold” rating in a report on Monday, February 12th. ValuEngine lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a report on Friday, December 1st. UBS Group initiated coverage on shares of NRG Energy in a report on Friday, February 23rd. They set a “buy” rating and a $33.00 target price on the stock. Finally, TheStreet lowered shares of NRG Energy from a “c” rating to a “d+” rating in a report on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. NRG Energy has a consensus rating of “Buy” and a consensus price target of $26.88.
NRG Energy Inc (NYSE NRG) traded up $0.11 during trading on Tuesday, reaching $30.00. 4,602,703 shares of the company were exchanged, compared to its average volume of 6,199,594. 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 twelve month low of $14.52 and a twelve month high of $30.24. The company has a market cap of $9,530.00, a price-to-earnings ratio of 17.75 and a beta of 1.10.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st were paid a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, January 31st. This represents a $0.12 dividend on an annualized basis and a yield of 0.40%. NRG Energy’s dividend payout ratio is presently 7.10%.
NRG Energy declared that its board has approved a share buyback 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. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.
A number of hedge funds have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. grew its stake in NRG Energy by 3,793.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 199,535 shares of the utilities provider’s stock worth $5,683,000 after buying an additional 194,410 shares in the last quarter. Tuttle Tactical Management LLC purchased a new position in NRG Energy in the 4th quarter worth approximately $1,500,000. Brookfield Asset Management Inc. purchased a new position in NRG Energy in the 4th quarter worth approximately $22,476,000. MetLife Investment Advisors LLC purchased a new position in NRG Energy in the 4th quarter worth approximately $2,651,000. Finally, Gotham Asset Management LLC grew its stake in NRG Energy by 243.8% in the 4th quarter. Gotham Asset Management LLC now owns 45,352 shares of the utilities provider’s stock worth $1,292,000 after buying an additional 32,161 shares in the last quarter. 97.31% of the stock is owned by institutional investors and hedge funds.
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NRG Energy Company Profile
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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