NRG Energy, Inc. (NYSE:NRG) Shares Purchased by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. lifted its holdings in shares of NRG Energy, Inc. (NYSE:NRG) by 1,631.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 113,829 shares of the utilities provider’s stock after buying an additional 107,255 shares during the period. Balyasny Asset Management L.P.’s holdings in NRG Energy were worth $10,270,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of NRG. Assenagon Asset Management S.A. raised its stake in shares of NRG Energy by 1,010.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,557,350 shares of the utilities provider’s stock worth $140,504,000 after buying an additional 1,417,057 shares during the last quarter. Boston Partners acquired a new position in NRG Energy during the fourth quarter worth about $94,346,000. Appaloosa LP lifted its holdings in shares of NRG Energy by 81.5% in the fourth quarter. Appaloosa LP now owns 1,815,000 shares of the utilities provider’s stock valued at $163,749,000 after purchasing an additional 815,180 shares in the last quarter. Teacher Retirement System of Texas grew its position in shares of NRG Energy by 350.4% in the fourth quarter. Teacher Retirement System of Texas now owns 904,265 shares of the utilities provider’s stock valued at $81,583,000 after purchasing an additional 703,481 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of NRG Energy during the 4th quarter worth approximately $61,679,000. 97.72% of the stock is owned by institutional investors and hedge funds.

NRG Energy Stock Performance

Shares of NRG opened at $120.50 on Friday. The company has a debt-to-equity ratio of 5.57, a current ratio of 1.17 and a quick ratio of 1.10. The firm’s 50 day moving average is $99.07 and its 200-day moving average is $98.45. NRG Energy, Inc. has a 12-month low of $65.11 and a 12-month high of $121.44. The stock has a market capitalization of $24.54 billion, a P/E ratio of 30.28, a P/E/G ratio of 1.01 and a beta of 1.00.

NRG Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Thursday, May 1st. NRG Energy’s payout ratio is 35.92%.

Analysts Set New Price Targets

NRG has been the subject of a number of recent research reports. Evercore ISI upgraded NRG Energy from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $74.00 to $126.00 in a research report on Tuesday, January 21st. StockNews.com downgraded shares of NRG Energy from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. The Goldman Sachs Group started coverage on shares of NRG Energy in a research note on Friday, April 4th. They set a “buy” rating and a $129.00 price objective on the stock. Wells Fargo & Company lifted their target price on shares of NRG Energy from $140.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Finally, BMO Capital Markets increased their price target on NRG Energy from $100.00 to $115.00 and gave the stock a “market perform” rating in a research note on Monday, March 3rd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, NRG Energy currently has a consensus rating of “Moderate Buy” and an average target price of $126.38.

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.