NRG Energy, Inc. (NYSE:NRG) Holdings Lowered by Elliott Investment Management L.P.

Elliott Investment Management L.P. decreased its stake in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 50.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,800,000 shares of the utilities provider's stock after selling 4,868,000 shares during the quarter. NRG Energy comprises about 2.6% of Elliott Investment Management L.P.'s investment portfolio, making the stock its 5th biggest holding. Elliott Investment Management L.P. owned about 2.37% of NRG Energy worth $433,056,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Family Management Corp increased its holdings in shares of NRG Energy by 3.9% in the 4th quarter. Family Management Corp now owns 58,470 shares of the utilities provider's stock worth $5,142,000 after purchasing an additional 2,188 shares in the last quarter. Corton Capital Inc. bought a new stake in shares of NRG Energy in the 4th quarter worth $279,000. Cetera Investment Advisers grew its holdings in shares of NRG Energy by 22.8% in the fourth quarter. Cetera Investment Advisers now owns 71,302 shares of the utilities provider's stock worth $6,433,000 after acquiring an additional 13,217 shares during the period. Bridgefront Capital LLC grew its holdings in shares of NRG Energy by 32.5% in the fourth quarter. Bridgefront Capital LLC now owns 5,855 shares of the utilities provider's stock worth $528,000 after acquiring an additional 1,435 shares during the period. Finally, Caxton Associates LP grew its holdings in shares of NRG Energy by 1,189.8% in the fourth quarter. Caxton Associates LP now owns 61,768 shares of the utilities provider's stock worth $5,573,000 after acquiring an additional 56,979 shares during the period. Institutional investors own 97.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NRG. The Goldman Sachs Group began coverage on NRG Energy in a report on Friday, April 4th. They issued a "buy" rating and a $129.00 price objective for the company. Wells Fargo & Company lifted their price objective on NRG Energy from $140.00 to $165.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th. Evercore ISI raised NRG Energy from an "in-line" rating to an "outperform" rating and lifted their price objective for the stock from $74.00 to $126.00 in a report on Tuesday, January 21st. Morgan Stanley lifted their price objective on NRG Energy from $86.00 to $99.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 19th. Finally, Jefferies Financial Group lifted their price objective on NRG Energy from $113.00 to $132.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $126.38.

NRG Energy Stock Performance

NYSE:NRG traded down $1.09 during mid-day trading on Friday, hitting $119.25. 3,027,998 shares of the company traded hands, compared to its average volume of 2,957,567. The stock's fifty day moving average price is $99.45 and its 200-day moving average price is $98.83. NRG Energy, Inc. has a one year low of $65.11 and a one year high of $120.92. The company has a quick ratio of 1.10, a current ratio of 1.17 and a debt-to-equity ratio of 5.57. The firm has a market cap of $24.29 billion, a price-to-earnings ratio of 29.96, a price-to-earnings-growth ratio of 1.01 and a beta of 1.00.

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 given a $0.44 dividend. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $1.76 annualized dividend and a dividend yield of 1.48%. NRG Energy's payout ratio is 35.92%.

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.