Leigh Baldwin & CO. LLC Takes $54.88 Million Position in NRG Energy, Inc. (NYSE:NRG)

Leigh Baldwin & CO. LLC acquired a new stake in NRG Energy, Inc. (NYSE:NRG) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 548,814 shares of the utilities provider’s stock, valued at approximately $54,881,000.

A number of other institutional investors also recently modified their holdings of the company. Banco Santander S.A. boosted its stake in shares of NRG Energy by 0.3% in the 4th quarter. Banco Santander S.A. now owns 2,828,000 shares of the utilities provider’s stock valued at $255,142,000 after purchasing an additional 7,500 shares during the last quarter. Northern Trust Corp boosted its stake in NRG Energy by 16.1% during the fourth quarter. Northern Trust Corp now owns 2,282,672 shares of the utilities provider’s stock worth $205,943,000 after acquiring an additional 316,445 shares in the last quarter. Appaloosa LP boosted its stake in NRG Energy by 81.5% during the fourth quarter. Appaloosa LP now owns 1,815,000 shares of the utilities provider’s stock worth $163,749,000 after acquiring an additional 815,180 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in NRG Energy by 1,010.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,557,350 shares of the utilities provider’s stock worth $140,504,000 after acquiring an additional 1,417,057 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in NRG Energy by 4.2% during the fourth quarter. Russell Investments Group Ltd. now owns 1,414,186 shares of the utilities provider’s stock worth $127,614,000 after acquiring an additional 56,944 shares in the last quarter. 97.72% of the stock is owned by institutional investors.

NRG Energy Price Performance

NRG stock opened at $119.25 on Monday. The stock has a market cap of $24.29 billion, a PE ratio of 29.96, a P/E/G ratio of 1.01 and a beta of 1.00. The company has a debt-to-equity ratio of 5.57, a current ratio of 1.17 and a quick ratio of 1.10. NRG Energy, Inc. has a one year low of $65.11 and a one year high of $124.67. The firm has a 50 day simple moving average of $99.45 and a two-hundred day simple moving average of $98.83.

NRG Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be issued a $0.44 dividend. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.48%. NRG Energy’s payout ratio is 35.92%.

Wall Street Analyst Weigh In

NRG has been the topic of several research analyst reports. Guggenheim increased their target price on shares of NRG Energy from $134.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. The Goldman Sachs Group initiated coverage on shares of NRG Energy in a report on Friday, April 4th. They set a “buy” rating and a $129.00 price objective for the company. BMO Capital Markets raised their price objective on shares of NRG Energy from $100.00 to $115.00 and gave the stock a “market perform” rating in a report on Monday, March 3rd. Jefferies Financial Group lifted their target price on shares of NRG Energy from $113.00 to $132.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Finally, Evercore ISI raised shares of NRG Energy from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $74.00 to $126.00 in a research note on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average 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.