NRG Energy Inc (NYSE:NRG) was the target of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 16,827,857 shares, a decline of 28.3% from the January 12th total of 23,456,377 shares. Based on an average daily volume of 6,352,086 shares, the short-interest ratio is presently 2.6 days. Approximately 5.5% of the shares of the company are short sold.
Several equities analysts recently weighed in on the company. Zacks Investment Research raised NRG Energy from a “sell” rating to a “hold” rating in a research report on Monday. ValuEngine cut NRG Energy from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. SunTrust Banks reissued a “hold” rating and set a $25.00 price objective on shares of NRG Energy in a research report on Friday, October 20th. Finally, Bank of America began coverage on NRG Energy in a research report on Tuesday, October 24th. They set a “buy” rating and a $31.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $24.67.
Institutional investors and hedge funds have recently modified their holdings of the stock. Tiedemann Wealth Management LLC grew its stake in shares of NRG Energy by 49.3% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 18,199 shares of the utilities provider’s stock valued at $101,000 after purchasing an additional 6,011 shares during the period. Tower Research Capital LLC TRC grew its stake 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 valued at $108,000 after purchasing an additional 3,685 shares during the period. Invictus RG bought a new stake in shares of NRG Energy in the 3rd quarter valued at approximately $110,000. NuWave Investment Management LLC bought a new stake in shares of NRG Energy in the 4th quarter valued at approximately $116,000. Finally, Itau Unibanco Holding S.A. grew its stake 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 valued at $137,000 after purchasing an additional 2,653 shares during the period. Hedge funds and other institutional investors own 98.11% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Thursday, February 1st will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $0.12 annualized dividend and a yield of 0.48%. NRG Energy’s dividend payout ratio is -4.76%.
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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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