Pinebridge Investments L.P. lifted its holdings in shares of NRG Energy Inc (NYSE:NRG) by 108.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 437,700 shares of the utilities provider’s stock after acquiring an additional 227,992 shares during the quarter. Pinebridge Investments L.P. owned about 0.17% of NRG Energy worth $15,372,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of the stock. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in NRG Energy by 431.3% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 2,049,142 shares of the utilities provider’s stock worth $71,966,000 after buying an additional 1,663,460 shares in the last quarter. Geode Capital Management LLC increased its position in shares of NRG Energy by 17.8% in the 4th quarter. Geode Capital Management LLC now owns 4,821,667 shares of the utilities provider’s stock worth $190,674,000 after purchasing an additional 727,114 shares during the last quarter. APG Asset Management N.V. bought a new stake in shares of NRG Energy in the 2nd quarter worth about $19,546,000. TD Asset Management Inc. increased its position in shares of NRG Energy by 178.9% in the 2nd quarter. TD Asset Management Inc. now owns 868,766 shares of the utilities provider’s stock worth $30,511,000 after purchasing an additional 557,219 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of NRG Energy by 107.1% in the 1st quarter. Wells Fargo & Company MN now owns 861,389 shares of the utilities provider’s stock worth $36,593,000 after purchasing an additional 445,435 shares during the last quarter. Institutional investors and hedge funds own 96.17% of the company’s stock.
Shares of NRG traded up $0.25 during midday trading on Friday, hitting $38.54. The company had a trading volume of 103,278 shares, compared to its average volume of 2,279,513. The company’s 50 day moving average price is $35.43 and its 200 day moving average price is $37.67. The stock has a market cap of $9.61 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 0.27 and a beta of 0.78. NRG Energy Inc has a 52 week low of $32.63 and a 52 week high of $43.66.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Wednesday, July 31st. This is an increase from NRG Energy’s previous quarterly dividend of $0.03. NRG Energy’s dividend payout ratio is currently 4.98%.
Several equities research analysts have recently weighed in on the stock. ValuEngine downgraded shares of NRG Energy from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Goldman Sachs Group raised shares of NRG Energy from a “buy” rating to a “conviction-buy” rating and set a $56.00 target price for the company in a research report on Monday, June 24th. Zacks Investment Research raised shares of NRG Energy from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Tuesday, August 20th. Finally, Morgan Stanley raised shares of NRG Energy from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $47.00 to $49.00 in a research report on Friday, September 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $45.13.
About NRG Energy
NRG Energy, Inc, together with its subsidiaries, operates as an energy company in the United States. The company is involved in the producing, selling, and delivering electricity and related products and services to 3.1 million residential, industrial, and commercial consumers. It generates electricity using natural gas, coal, oil, solar, nuclear, wind, fossil fuel, and nuclear sources.
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