Pictet Asset Management SA Purchases 9,396 Shares of NRG Energy, Inc. (NYSE:NRG)

Pictet Asset Management SA increased its position in shares of NRG Energy, Inc. (NYSE:NRGGet Rating) by 6.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 151,822 shares of the utilities provider’s stock after buying an additional 9,396 shares during the period. Pictet Asset Management SA owned 0.06% of NRG Energy worth $5,795,000 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 company. First Horizon Advisors Inc. boosted its holdings in NRG Energy by 206.8% during the second quarter. First Horizon Advisors Inc. now owns 681 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 459 shares during the period. West Oak Capital LLC lifted its position in shares of NRG Energy by 300.0% during the 2nd quarter. West Oak Capital LLC now owns 1,600 shares of the utilities provider’s stock worth $61,000 after purchasing an additional 1,200 shares during the last quarter. Sugarloaf Wealth Management LLC boosted its stake in NRG Energy by 3,223.5% during the 2nd quarter. Sugarloaf Wealth Management LLC now owns 1,695 shares of the utilities provider’s stock valued at $65,000 after purchasing an additional 1,644 shares during the period. Van ECK Associates Corp acquired a new stake in NRG Energy in the 2nd quarter valued at approximately $71,000. Finally, Geneos Wealth Management Inc. acquired a new position in shares of NRG Energy during the second quarter worth approximately $77,000. 95.84% of the stock is currently owned by institutional investors and hedge funds.

NRG Energy Stock Up 2.2 %

Shares of NRG opened at $42.24 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.32 and a debt-to-equity ratio of 1.55. The company has a 50-day moving average price of $42.41 and a two-hundred day moving average price of $41.24. The stock has a market cap of $9.73 billion, a price-to-earnings ratio of 5.36, a P/E/G ratio of 0.30 and a beta of 0.89. NRG Energy, Inc. has a 12 month low of $34.91 and a 12 month high of $47.82.

NRG Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Tuesday, November 1st were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.31%. The ex-dividend date was Monday, October 31st. NRG Energy’s dividend payout ratio is 17.77%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on NRG shares. The Goldman Sachs Group dropped their target price on shares of NRG Energy from $52.00 to $46.00 and set a “buy” rating on the stock in a research report on Tuesday, August 9th. StockNews.com started coverage on shares of NRG Energy in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Morgan Stanley boosted their price target on NRG Energy from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, October 28th. Finally, BMO Capital Markets raised their price objective on NRG Energy from $44.00 to $46.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $44.17.

About NRG Energy

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NRG Energy, Inc engages in the production, sale, and distribution of energy and energy services. It operates through the following segments: Generation, Retail, and Corporate. The Generation segment includes all power plant activities, domestic and international, as well as renewables. The Retail segment includes mass customers and business solutions, and other distributed and reliability products.

Further Reading

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Institutional Ownership by Quarter for NRG Energy (NYSE:NRG)

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