Redwood Investment Management LLC Acquires 2,275 Shares of NRG Energy, Inc. (NYSE:NRG)

Redwood Investment Management LLC boosted its holdings in NRG Energy, Inc. (NYSE:NRG) by 12.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,761 shares of the utilities provider’s stock after acquiring an additional 2,275 shares during the quarter. Redwood Investment Management LLC’s holdings in NRG Energy were worth $1,873,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Banco Santander S.A. raised its stake in shares of NRG Energy by 0.3% in the fourth quarter. Banco Santander S.A. now owns 2,828,000 shares of the utilities provider’s stock worth $255,142,000 after purchasing an additional 7,500 shares during the last quarter. Northern Trust Corp grew its holdings 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 buying an additional 316,445 shares in the last quarter. Appaloosa LP raised its position in NRG Energy by 81.5% in the 4th quarter. Appaloosa LP now owns 1,815,000 shares of the utilities provider’s stock valued at $163,749,000 after buying an additional 815,180 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in NRG Energy by 4.2% during the 4th quarter. Russell Investments Group Ltd. now owns 1,414,186 shares of the utilities provider’s stock valued at $127,614,000 after acquiring an additional 56,944 shares in the last quarter. Finally, Prudential Financial Inc. boosted its holdings in NRG Energy by 3.1% during the 4th quarter. Prudential Financial Inc. now owns 1,374,245 shares of the utilities provider’s stock worth $123,984,000 after acquiring an additional 41,094 shares during the last quarter. Institutional investors and hedge funds own 97.72% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on NRG shares. Jefferies Financial Group increased their target price on shares of NRG Energy from $113.00 to $132.00 and gave the company a “buy” rating in a report on Monday, May 5th. Wells Fargo & Company lifted their target price on shares of NRG Energy from $165.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday. Evercore ISI upgraded NRG Energy from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $74.00 to $126.00 in a research note on Tuesday, January 21st. The Goldman Sachs Group began coverage on NRG Energy in a research report on Friday, April 4th. They set a “buy” rating and a $129.00 price target for the company. Finally, StockNews.com cut NRG Energy from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.75.

NRG Energy Trading Up 0.8%

NYSE:NRG opened at $155.02 on Friday. NRG Energy, Inc. has a 12 month low of $65.11 and a 12 month high of $158.66. The company has a current ratio of 1.17, a quick ratio of 1.10 and a debt-to-equity ratio of 5.57. The firm’s 50 day moving average is $104.51 and its 200 day moving average is $100.49. The stock has a market capitalization of $31.57 billion, a PE ratio of 38.95, a price-to-earnings-growth ratio of 1.01 and a beta of 1.00.

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

NRG Energy Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Thursday, May 1st. This represents a $1.76 dividend on an annualized basis and a yield of 1.14%. NRG Energy’s dividend payout ratio is presently 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.