Geode Capital Management LLC grew its position in NRG Energy Inc (NYSE:NRG) by 4.5% during the 4th quarter, HoldingsChannel reports. The firm owned 3,403,651 shares of the utilities provider’s stock after purchasing an additional 145,561 shares during the quarter. Geode Capital Management LLC’s holdings in NRG Energy were worth $96,788,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Lourd Capital LLC acquired a new stake in shares of NRG Energy in the 4th quarter valued at $271,000. Private Advisory Group LLC boosted its stake in shares of NRG Energy by 73.6% in the 4th quarter. Private Advisory Group LLC now owns 25,168 shares of the utilities provider’s stock valued at $717,000 after purchasing an additional 10,670 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of NRG Energy by 1.3% in the 3rd quarter. Canada Pension Plan Investment Board now owns 372,468 shares of the utilities provider’s stock valued at $9,531,000 after purchasing an additional 4,700 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of NRG Energy by 82.1% in the 3rd quarter. Jennison Associates LLC now owns 3,261,902 shares of the utilities provider’s stock valued at $83,472,000 after purchasing an additional 1,470,410 shares in the last quarter. Finally, Highbridge Capital Management LLC acquired a new stake in shares of NRG Energy in the 3rd quarter valued at $5,678,000. Institutional investors own 97.31% of the company’s stock.
NRG Energy Inc (NRG) opened at $29.75 on Monday. The stock has a market cap of $9,449.73, a PE ratio of 30.99 and a beta of 1.10. The company has a current ratio of 1.33, a quick ratio of 1.17 and a debt-to-equity ratio of 7.99. NRG Energy Inc has a 52-week low of $14.52 and a 52-week high of $29.89.
NRG Energy declared that its board has initiated a share repurchase plan on Thursday, March 1st that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the utilities provider to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st were given a dividend of $0.03 per share. 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 payout ratio is presently -1.76%.
Several research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of NRG Energy from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 3rd. ValuEngine downgraded shares of NRG Energy from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. TheStreet downgraded shares of NRG Energy from a “c” rating to a “d+” rating in a research report on Thursday, March 1st. Finally, UBS Group assumed coverage on shares of NRG Energy in a research report on Friday, February 23rd. They set a “buy” rating and a $33.00 price target on the stock. 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. The company presently has a consensus rating of “Buy” and an average price target of $26.88.
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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