Cibc World Market Inc. bought a new stake in NRG Energy, Inc. (NYSE:NRG – Get Rating) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 9,321 shares of the utilities provider’s stock, valued at approximately $356,000.
A number of other large investors have also modified their holdings of NRG. Charles Schwab Investment Management Inc. grew its stake in shares of NRG Energy by 145.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,746,180 shares of the utilities provider’s stock valued at $182,064,000 after buying an additional 2,812,434 shares in the last quarter. Pzena Investment Management LLC grew its stake in NRG Energy by 8.3% during the 1st quarter. Pzena Investment Management LLC now owns 18,654,573 shares of the utilities provider’s stock valued at $715,589,000 after purchasing an additional 1,430,085 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in NRG Energy during the 1st quarter valued at approximately $29,484,000. American Century Companies Inc. grew its stake in NRG Energy by 511.5% during the 1st quarter. American Century Companies Inc. now owns 822,205 shares of the utilities provider’s stock valued at $31,540,000 after purchasing an additional 687,750 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new stake in NRG Energy during the 1st quarter valued at approximately $13,945,000. Institutional investors and hedge funds own 95.84% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on NRG shares. BMO Capital Markets raised their price objective on NRG Energy from $44.00 to $46.00 and gave the company a “market perform” rating in a research note on Tuesday, November 8th. StockNews.com started coverage on NRG Energy in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Morgan Stanley raised their price objective 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, The Goldman Sachs Group decreased their target price on NRG Energy from $52.00 to $46.00 and set a “buy” rating for the company in a research report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $44.17.
NRG Energy Price Performance
NRG Energy Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Tuesday, November 1st were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend was Monday, October 31st. NRG Energy’s dividend payout ratio (DPR) is 17.77%.
NRG Energy Company Profile
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.
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