Monashee Investment Management LLC purchased a new stake in shares of NRG Energy, Inc. (NYSE:NRG – Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 85,000 shares of the utilities provider’s stock, valued at approximately $12,422,000. NRG Energy makes up 6.8% of Monashee Investment Management LLC’s investment portfolio, making the stock its 4th biggest position.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. MV Capital Management Inc. bought a new stake in NRG Energy during the fourth quarter worth $27,000. Motiv8 Investments LLC bought a new position in NRG Energy during the fourth quarter valued at about $27,000. Core Wealth Advisors LLC purchased a new stake in shares of NRG Energy during the 4th quarter worth approximately $28,000. EMC Capital Management purchased a new stake in NRG Energy in the fourth quarter worth $30,000. Finally, SHP Wealth Management purchased a new stake in NRG Energy in the 4th quarter worth about $32,000. 97.72% of the stock is owned by institutional investors.
NRG Energy Price Performance
NRG opened at $139.81 on Thursday. The stock’s 50 day simple moving average is $135.24 and its 200 day simple moving average is $149.04. The company has a debt-to-equity ratio of 4.68, a current ratio of 0.84 and a quick ratio of 0.78. NRG Energy, Inc. has a 1 year low of $120.11 and a 1 year high of $189.96. The firm has a market cap of $29.50 billion, a price-to-earnings ratio of 164.48 and a beta of 1.21.
NRG Energy Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 3rd will be given a $0.475 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $1.90 annualized dividend and a dividend yield of 1.4%. NRG Energy’s dividend payout ratio is currently 223.53%.
Analysts Set New Price Targets
A number of analysts recently commented on the stock. Siebert Williams Shank assumed coverage on shares of NRG Energy in a research note on Monday, July 6th. They set a “buy” rating and a $184.00 price target on the stock. Williams Trading set a $184.00 price target on shares of NRG Energy in a report on Monday, July 6th. Raymond James Financial set a $210.00 price target on shares of NRG Energy in a report on Monday, April 27th. Morgan Stanley set a $165.00 price objective on NRG Energy in a research report on Wednesday, June 24th. Finally, Weiss Ratings upgraded NRG Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.93.
Check Out Our Latest Report on NRG Energy
Insider Activity at NRG Energy
In other NRG Energy news, VP Virginia Kinney sold 20,000 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $127.52, for a total value of $2,550,400.00. Following the completion of the transaction, the vice president owned 45,111 shares in the company, valued at approximately $5,752,554.72. This represents a 30.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by insiders.
NRG Energy Company Profile
NRG Energy (NYSE: NRG) is a U.S.-based integrated power company headquartered in Houston, Texas. The company develops, owns and operates a diversified portfolio of power generation assets and participates in wholesale and retail energy markets. NRG supplies electricity to utilities, commercial and industrial customers, and retail consumers, while also providing energy-related products and services designed to manage consumption and support reliability.
NRG’s generation mix includes conventional thermal plants as well as renewable and distributed energy resources.
Read More
- Five stocks we like better than NRG Energy
- Could Truth API Become Trump Media’s First Meaningful Revenue Driver?
- Small Caps Are Crushing the S&P 500—3 Stocks Still Worth Buying
- Moog Is More Than a Missile Maker, and Wall Street Is Noticing
- A Boring Dividend Growth Strategy Becomes a Solid Defensive Play
Want to see what other hedge funds are holding NRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NRG Energy, Inc. (NYSE:NRG – Free Report).
Receive News & Ratings for NRG Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NRG Energy and related companies with MarketBeat.com's FREE daily email newsletter.
