Arete Wealth Advisors LLC Acquires New Stake in NRG Energy, Inc. (NYSE:NRG)

Arete Wealth Advisors LLC acquired a new stake in shares of NRG Energy, Inc. (NYSE:NRG) during the third quarter, Holdings Channel reports. The firm acquired 2,847 shares of the utilities provider’s stock, valued at approximately $259,000.

A number of other hedge funds have also made changes to their positions in NRG. Banco Santander S.A. acquired a new position in shares of NRG Energy during the second quarter valued at approximately $217,671,000. Los Angeles Capital Management LLC grew its position in NRG Energy by 32,962.3% in the third quarter. Los Angeles Capital Management LLC now owns 1,052,705 shares of the utilities provider’s stock worth $95,901,000 after buying an additional 1,049,521 shares during the last quarter. Fred Alger Management LLC acquired a new position in NRG Energy in the second quarter worth approximately $53,773,000. Bridgewater Associates LP grew its position in NRG Energy by 352.9% in the third quarter. Bridgewater Associates LP now owns 804,801 shares of the utilities provider’s stock worth $73,317,000 after buying an additional 627,121 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in NRG Energy in the second quarter worth approximately $43,134,000. Institutional investors and hedge funds own 97.72% of the company’s stock.

NRG Energy Trading Down 0.2 %

NYSE NRG opened at $94.98 on Friday. The firm’s 50 day moving average price is $92.91 and its two-hundred day moving average price is $84.73. The stock has a market cap of $19.24 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 1.30 and a beta of 1.12. NRG Energy, Inc. has a twelve month low of $47.88 and a twelve month high of $103.14. The company has a debt-to-equity ratio of 5.57, a quick ratio of 1.10 and a current ratio of 1.17.

NRG Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were given a dividend of $0.4075 per share. The ex-dividend date was Friday, November 1st. This represents a $1.63 dividend on an annualized basis and a yield of 1.72%. NRG Energy’s payout ratio is 40.95%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NRG. StockNews.com lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Citigroup lifted their price target on shares of NRG Energy from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. BMO Capital Markets lifted their price target on shares of NRG Energy from $94.00 to $100.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 19th. Jefferies Financial Group upgraded shares of NRG Energy from a “hold” rating to a “buy” rating and lifted their price target for the stock from $93.00 to $113.00 in a research report on Tuesday, November 26th. Finally, Guggenheim lifted their price objective on shares of NRG Energy from $77.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $102.71.

About NRG Energy

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.