Traders Buy Large Volume of Call Options on NRG Energy (NYSE:NRG)

NRG Energy, Inc. (NYSE:NRG) saw unusually large options trading activity on Monday. Investors acquired 6,778 call options on the company. This represents an increase of 134% compared to the average daily volume of 2,899 call options.

NRG Energy Price Performance

Shares of NRG traded up $27.01 during midday trading on Monday, hitting $146.34. The company’s stock had a trading volume of 3,174,702 shares, compared to its average volume of 2,959,737. NRG Energy has a one year low of $65.11 and a one year high of $146.89. The company’s fifty day simple moving average is $99.45 and its two-hundred day simple moving average is $98.83. The company has a quick ratio of 1.10, a current ratio of 1.17 and a debt-to-equity ratio of 5.57. The stock has a market capitalization of $29.81 billion, a price-to-earnings ratio of 36.62, a price-to-earnings-growth ratio of 1.01 and a beta of 1.00.

NRG Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be paid a dividend of $0.44 per share. The ex-dividend date is Thursday, May 1st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.20%. NRG Energy’s dividend payout ratio (DPR) is currently 35.92%.

Hedge Funds Weigh In On NRG Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. National Bank of Canada FI lifted its holdings in NRG Energy by 51.9% in the first quarter. National Bank of Canada FI now owns 415,788 shares of the utilities provider’s stock valued at $39,751,000 after acquiring an additional 142,143 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of NRG Energy by 8.9% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 353,307 shares of the utilities provider’s stock worth $33,727,000 after purchasing an additional 28,813 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in shares of NRG Energy in the 1st quarter worth $1,199,000. Deutsche Bank AG increased its stake in shares of NRG Energy by 7.3% in the 1st quarter. Deutsche Bank AG now owns 1,050,924 shares of the utilities provider’s stock worth $100,321,000 after purchasing an additional 71,337 shares in the last quarter. Finally, Chicago Partners Investment Group LLC purchased a new stake in shares of NRG Energy in the 1st quarter worth $177,000. 97.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Jefferies Financial Group raised their target price on shares of NRG Energy from $113.00 to $132.00 and gave the company a “buy” rating in a report on Monday, May 5th. The Goldman Sachs Group started coverage on NRG Energy in a report on Friday, April 4th. They issued a “buy” rating and a $129.00 price objective on the stock. StockNews.com downgraded NRG Energy from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Wells Fargo & Company increased their price target on NRG Energy from $140.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Finally, Guggenheim lifted their price target on NRG Energy from $134.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently 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.