abrdn plc Has $4.99 Million Stake in NRG Energy, Inc. (NYSE:NRG)

abrdn plc raised its stake in NRG Energy, Inc. (NYSE:NRG - Free Report) by 71.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 96,473 shares of the utilities provider's stock after buying an additional 40,267 shares during the period. abrdn plc's holdings in NRG Energy were worth $4,988,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Greenleaf Trust increased its holdings in NRG Energy by 11.5% in the fourth quarter. Greenleaf Trust now owns 8,357 shares of the utilities provider's stock valued at $432,000 after buying an additional 864 shares in the last quarter. Trust Investment Advisors purchased a new position in NRG Energy in the fourth quarter valued at about $240,000. Daiwa Securities Group Inc. increased its holdings in NRG Energy by 5.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 20,010 shares of the utilities provider's stock valued at $1,035,000 after buying an additional 1,040 shares in the last quarter. Quantum Private Wealth LLC purchased a new position in shares of NRG Energy during the 4th quarter worth approximately $252,000. Finally, Louisiana State Employees Retirement System purchased a new position in shares of NRG Energy during the 4th quarter worth approximately $708,000. 97.72% of the stock is owned by hedge funds and other institutional investors.

NRG Energy Trading Down 0.1 %

NYSE NRG traded down $0.05 during mid-day trading on Friday, reaching $72.81. 1,681,813 shares of the stock were exchanged, compared to its average volume of 3,483,575. The stock has a market capitalization of $15.63 billion, a PE ratio of -68.05 and a beta of 1.13. The business's fifty day simple moving average is $65.17 and its 200 day simple moving average is $54.37. NRG Energy, Inc. has a 1-year low of $30.52 and a 1-year high of $76.54. The company has a debt-to-equity ratio of 4.49, a quick ratio of 0.96 and a current ratio of 1.02.

NRG Energy (NYSE:NRG - Get Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The utilities provider reported $1.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.94 by $0.20. The company had revenue of $6.81 billion for the quarter, compared to analyst estimates of $7.51 billion. NRG Energy had a negative net margin of 0.70% and a positive return on equity of 44.03%. On average, research analysts anticipate that NRG Energy, Inc. will post 5.36 earnings per share for the current fiscal year.

NRG Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a $0.4075 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.24%. NRG Energy's dividend payout ratio (DPR) is presently -152.34%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. StockNews.com raised shares of NRG Energy from a "sell" rating to a "hold" rating in a research note on Wednesday, March 6th. Morgan Stanley raised their price objective on shares of NRG Energy from $51.00 to $63.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 26th. Evercore ISI raised their price objective on shares of NRG Energy from $55.00 to $65.00 and gave the stock an "in-line" rating in a research note on Monday, March 18th. Citigroup raised their price objective on shares of NRG Energy from $52.00 to $62.00 and gave the stock a "buy" rating in a research note on Friday, March 1st. Finally, BMO Capital Markets raised their target price on shares of NRG Energy from $58.00 to $59.00 and gave the stock a "market perform" rating in a research report on Thursday, February 29th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, NRG Energy has an average rating of "Hold" and a consensus target price of $59.50.

Insider Buying and Selling at NRG Energy

In other NRG Energy news, VP Rasesh M. Patel sold 49,092 shares of NRG Energy stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $62.59, for a total value of $3,072,668.28. Following the transaction, the vice president now owns 356,962 shares in the company, valued at approximately $22,342,251.58. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.86% of the stock is owned by company insiders.

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.