Man Group plc Sells 1,033,596 Shares of NRG Energy, Inc. (NYSE:NRG)

Man Group plc lowered its position in NRG Energy, Inc. (NYSE:NRG) by 74.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 353,475 shares of the utilities provider’s stock after selling 1,033,596 shares during the quarter. Man Group plc’s holdings in NRG Energy were worth $31,891,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of NRG. Boston Partners bought a new position in NRG Energy in the fourth quarter worth approximately $94,346,000. Appaloosa LP grew its stake in NRG Energy by 81.5% in the fourth quarter. Appaloosa LP now owns 1,815,000 shares of the utilities provider’s stock worth $163,749,000 after purchasing an additional 815,180 shares in the last quarter. Teacher Retirement System of Texas grew its stake in NRG Energy by 350.4% in the fourth quarter. Teacher Retirement System of Texas now owns 904,265 shares of the utilities provider’s stock worth $81,583,000 after purchasing an additional 703,481 shares in the last quarter. Raymond James Financial Inc. bought a new position in NRG Energy in the fourth quarter worth approximately $61,679,000. Finally, Leigh Baldwin & CO. LLC purchased a new stake in NRG Energy during the fourth quarter worth $54,881,000. Institutional investors own 97.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Morgan Stanley upped their target price on NRG Energy from $86.00 to $99.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. StockNews.com lowered NRG Energy from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Jefferies Financial Group upped their target price on NRG Energy from $113.00 to $132.00 and gave the stock a “buy” rating in a report on Monday, May 5th. The Goldman Sachs Group assumed coverage on NRG Energy in a report on Friday, April 4th. They set a “buy” rating and a $129.00 target price for the company. Finally, Guggenheim upped their target price on NRG Energy from $138.00 to $173.00 and gave the stock a “buy” rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $140.75.

NRG Energy Stock Performance

Shares of NRG stock opened at $155.02 on Friday. The firm has a market capitalization of $31.57 billion, a price-to-earnings ratio of 38.95, a price-to-earnings-growth 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. The business has a fifty day moving average of $104.51 and a 200 day moving average of $100.49. NRG Energy, Inc. has a 1 year low of $65.11 and a 1 year high of $158.66.

NRG Energy (NYSE:NRG) last issued its earnings results on Monday, May 12th. The utilities provider reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $1.90. The company had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.28 billion. NRG Energy had a return on equity of 48.96% and a net margin of 3.43%. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the business posted $2.31 EPS. As a group, research analysts expect that NRG Energy, Inc. will post 6.36 earnings per share for the current year.

NRG Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Thursday, May 1st. NRG Energy’s dividend payout ratio is currently 28.39%.

NRG Energy 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.