The Manufacturers Life Insurance Company Reduces Stock Position in NRG Energy, Inc. (NYSE:NRG)

The Manufacturers Life Insurance Company lowered its stake in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 164,513 shares of the utilities provider's stock after selling 5,802 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.08% of NRG Energy worth $14,842,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. SBI Securities Co. Ltd. purchased a new stake in NRG Energy in the fourth quarter valued at $32,000. UMB Bank n.a. lifted its holdings in shares of NRG Energy by 100.4% in the 4th quarter. UMB Bank n.a. now owns 455 shares of the utilities provider's stock valued at $41,000 after purchasing an additional 228 shares during the last quarter. Mizuho Bank Ltd. acquired a new stake in shares of NRG Energy in the 4th quarter valued at about $41,000. Princeton Global Asset Management LLC increased its position in NRG Energy by 414.9% during the fourth quarter. Princeton Global Asset Management LLC now owns 484 shares of the utilities provider's stock worth $44,000 after buying an additional 390 shares during the period. Finally, Larson Financial Group LLC lifted its stake in NRG Energy by 221.0% in the fourth quarter. Larson Financial Group LLC now owns 504 shares of the utilities provider's stock valued at $45,000 after buying an additional 347 shares during the last quarter. Hedge funds and other institutional investors own 97.72% of the company's stock.

NRG Energy Stock Performance

NYSE NRG traded up $1.80 on Wednesday, hitting $118.81. 2,614,665 shares of the company's stock were exchanged, compared to its average volume of 3,012,271. 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 firm's 50-day moving average price is $98.40 and its two-hundred day moving average price is $98.07. The firm has a market cap of $24.20 billion, a price-to-earnings ratio of 29.85, a P/E/G ratio of 1.01 and a beta of 1.00. NRG Energy, Inc. has a fifty-two week low of $65.11 and a fifty-two week high of $120.12.

NRG Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Thursday, May 1st. NRG Energy's dividend payout ratio (DPR) is currently 35.92%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NRG. Morgan Stanley lifted their target price on shares of NRG Energy from $86.00 to $99.00 and gave the company an "equal weight" rating in a report on Wednesday, February 19th. Guggenheim upped their target price on shares of NRG Energy from $134.00 to $145.00 and gave the company a "buy" rating in a report on Thursday, February 27th. StockNews.com downgraded shares of NRG Energy from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. Wells Fargo & Company boosted their price target on NRG Energy from $140.00 to $165.00 and gave the company an "overweight" rating in a research report on Thursday, February 27th. Finally, Evercore ISI raised NRG Energy from an "in-line" rating to an "outperform" rating and increased their price objective for the stock from $74.00 to $126.00 in a research report on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $126.38.

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.