Resona Asset Management Co. Ltd. Acquires 2,187 Shares of NRG Energy, Inc. (NYSE:NRG)

Resona Asset Management Co. Ltd. raised its holdings in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 3.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,006 shares of the utilities provider's stock after purchasing an additional 2,187 shares during the period. Resona Asset Management Co. Ltd.'s holdings in NRG Energy were worth $6,203,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Goldman Sachs Group Inc. raised its position in NRG Energy by 468.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,757,735 shares of the utilities provider's stock valued at $454,173,000 after purchasing an additional 6,049,247 shares during the last quarter. Northern Trust Corp lifted its stake in shares of NRG Energy by 16.1% in the 4th quarter. Northern Trust Corp now owns 2,282,672 shares of the utilities provider's stock valued at $205,943,000 after purchasing an additional 316,445 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of NRG Energy by 17.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,223,591 shares of the utilities provider's stock valued at $110,392,000 after purchasing an additional 182,438 shares during the period. Deutsche Bank AG lifted its stake in shares of NRG Energy by 7.3% in the 1st quarter. Deutsche Bank AG now owns 1,050,924 shares of the utilities provider's stock valued at $100,321,000 after purchasing an additional 71,337 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of NRG Energy by 32.2% in the 1st quarter. Victory Capital Management Inc. now owns 992,811 shares of the utilities provider's stock valued at $94,774,000 after purchasing an additional 242,010 shares during the period. Institutional investors own 97.72% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on NRG shares. Citigroup raised their target price on NRG Energy from $133.00 to $185.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Wall Street Zen cut NRG Energy from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Guggenheim raised their target price on NRG Energy from $138.00 to $173.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Barclays raised their target price on NRG Energy from $197.00 to $203.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Finally, Jefferies Financial Group upped their price target on NRG Energy from $113.00 to $132.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $162.70.

Insider Buying and Selling

In other NRG Energy news, Director Kevin Howell sold 50,000 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $154.50, for a total transaction of $7,725,000.00. Following the sale, the director directly owned 55,427 shares in the company, valued at approximately $8,563,471.50. This trade represents a 47.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.86% of the company's stock.

NRG Energy Stock Performance

Shares of NRG opened at $153.98 on Friday. The business's fifty day simple moving average is $155.44 and its two-hundred day simple moving average is $127.24. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 5.99. NRG Energy, Inc. has a 12 month low of $76.13 and a 12 month high of $175.96. The company has a market cap of $29.78 billion, a price-to-earnings ratio of 69.67, a P/E/G ratio of 1.26 and a beta of 1.14.

NRG Energy (NYSE:NRG - Get Free Report) last issued its earnings results on Wednesday, August 6th. The utilities provider reported $1.68 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.04). NRG Energy had a net margin of 1.78% and a return on equity of 88.22%. The business had revenue of $6.74 billion for the quarter, compared to analysts' expectations of $6.63 billion. During the same quarter in the prior year, the business posted $3.37 earnings per share. The business's revenue for the quarter was up 1.2% on a year-over-year basis. Research analysts anticipate that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, August 1st. NRG Energy's dividend payout ratio (DPR) is currently 79.64%.

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.

Want to see what other hedge funds are holding NRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NRG Energy, Inc. (NYSE:NRG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.