Natixis acquired a new stake in NRG Energy Inc (NYSE:NRG) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,706 shares of the utilities provider’s stock, valued at approximately $205,000.
A number of other institutional investors have also made changes to their positions in NRG. Luminus Management LLC grew its position in NRG Energy by 168.0% in the 4th quarter. Luminus Management LLC now owns 9,485,601 shares of the utilities provider’s stock valued at $270,150,000 after acquiring an additional 5,946,342 shares during the last quarter. Southpoint Capital Advisors LP bought a new position in NRG Energy in the 4th quarter valued at $56,960,000. MD Sass Investors Services Inc. grew its position in NRG Energy by 1,028.4% in the 1st quarter. MD Sass Investors Services Inc. now owns 1,415,060 shares of the utilities provider’s stock valued at $43,203,000 after acquiring an additional 1,289,660 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of NRG Energy by 31.4% in the 4th quarter. Renaissance Technologies LLC now owns 4,868,016 shares of the utilities provider’s stock worth $138,641,000 after buying an additional 1,162,600 shares during the period. Finally, Brookfield Asset Management Inc. purchased a new stake in shares of NRG Energy in the 4th quarter worth $22,476,000. 97.31% of the stock is currently owned by institutional investors.
Shares of NRG stock opened at $30.93 on Thursday. The company has a debt-to-equity ratio of 6.82, a current ratio of 1.23 and a quick ratio of 1.09. NRG Energy Inc has a twelve month low of $15.95 and a twelve month high of $35.17. The firm has a market capitalization of $9.78 billion, a price-to-earnings ratio of 28.38 and a beta of 0.94.
NRG Energy declared that its Board of Directors has initiated a stock repurchase program on Thursday, March 1st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the utilities provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
Several equities research analysts have weighed in on NRG shares. UBS Group upped their target price on NRG Energy from $36.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, March 28th. SunTrust Banks reiterated a “hold” rating and issued a $29.00 target price on shares of NRG Energy in a report on Thursday, March 15th. Zacks Investment Research upgraded NRG Energy from a “hold” rating to a “strong-buy” rating and set a $36.00 target price for the company in a report on Tuesday, April 24th. ValuEngine cut NRG Energy from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Finally, TheStreet cut NRG Energy from a “c” rating to a “d+” rating in a report on Thursday, March 1st. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. NRG Energy currently has an average rating of “Buy” and an average price target of $33.20.
NRG Energy Profile
NRG Energy, Inc, together with its subsidiaries, operates as an integrated power company in the United States. The company is involved in the generation of electricity using fossil fuel and nuclear sources. The company provides electricity to 2.9 million residential, commercial, and industrial consumers; system power, distributed generation, solar and wind products, backup generation, storage and distributed solar, demand response, energy efficiency, and on-site energy solutions; and carbon management and specialty services.
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