Balyasny Asset Management L.P. Grows Stock Holdings in NRG Energy, Inc. (NYSE:NRG)

Balyasny Asset Management L.P. lifted its position in NRG Energy, Inc. (NYSE:NRG) by 1,631.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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. owned approximately 0.06% of NRG Energy worth $10,270,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Principal Financial Group Inc. raised its position in shares of NRG Energy by 17.7% in the 3rd quarter. Principal Financial Group Inc. now owns 458,811 shares of the utilities provider’s stock valued at $41,800,000 after purchasing an additional 69,047 shares during the last quarter. LVM Capital Management Ltd. MI purchased a new position in shares of NRG Energy in the fourth quarter worth $616,000. Czech National Bank lifted its stake in shares of NRG Energy by 4.5% during the fourth quarter. Czech National Bank now owns 43,921 shares of the utilities provider’s stock worth $3,963,000 after buying an additional 1,880 shares during the period. Wedmont Private Capital purchased a new stake in shares of NRG Energy during the fourth quarter valued at $224,000. Finally, Cooper Financial Group increased its position in shares of NRG Energy by 8.8% in the 4th quarter. Cooper Financial Group now owns 6,947 shares of the utilities provider’s stock valued at $627,000 after acquiring an additional 559 shares during the period. Institutional investors own 97.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NRG. Wells Fargo & Company lifted their target price on NRG Energy from $140.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Morgan Stanley lifted their price objective on shares of NRG Energy from $86.00 to $99.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. The Goldman Sachs Group assumed coverage on shares of NRG Energy in a research note on Friday, April 4th. They issued a “buy” rating and a $129.00 price objective on the stock. BMO Capital Markets boosted their target price on shares of NRG Energy from $100.00 to $115.00 and gave the company a “market perform” rating in a research report on Monday, March 3rd. Finally, Jefferies Financial Group increased their price target on NRG Energy from $113.00 to $132.00 and gave the stock a “buy” rating in a research report on Monday. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $126.38.

NRG Energy Price Performance

NRG Energy stock opened at $120.50 on Friday. The stock has a market cap of $24.54 billion, a P/E ratio of 30.28, a price-to-earnings-growth ratio of 1.01 and a beta of 1.00. The company has a fifty day simple moving average of $99.07 and a 200-day simple moving average of $98.45. The company has a current ratio of 1.17, a quick ratio of 1.10 and a debt-to-equity ratio of 5.57. NRG Energy, Inc. has a 12-month low of $65.11 and a 12-month high of $121.44.

NRG Energy Dividend Announcement

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

About NRG Energy

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.