abrdn plc Boosts Stock Holdings in NRG Energy, Inc. (NYSE:NRG)

abrdn plc increased its position in shares of NRG Energy, Inc. (NYSE:NRG) by 71.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 96,473 shares of the utilities provider’s stock after purchasing an additional 40,267 shares during the period. abrdn plc’s holdings in NRG Energy were worth $4,988,000 as of its most recent SEC filing.

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

NRG Energy Stock Performance

Shares of NYSE NRG opened at $72.81 on Friday. NRG Energy, Inc. has a 1 year low of $30.52 and a 1 year high of $76.54. The firm’s 50 day moving average price is $65.17 and its 200 day moving average price is $54.28. 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) last announced its earnings results on Wednesday, February 28th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.20. NRG Energy had a negative net margin of 0.70% and a positive return on equity of 44.03%. The firm had revenue of $6.81 billion for the quarter, compared to analyst estimates of $7.51 billion. Equities analysts forecast that NRG Energy, Inc. will post 5.36 EPS 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 paid a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Tuesday, April 30th. NRG Energy’s dividend payout ratio is currently -152.34%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NRG. Wells Fargo & Company upped their target price on shares of NRG Energy from $78.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, March 25th. StockNews.com upgraded shares of NRG Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Citigroup increased their price target on shares of NRG Energy from $52.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Morgan Stanley increased their price target on shares of NRG Energy from $51.00 to $63.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 26th. Finally, BMO Capital Markets increased their price target on shares of NRG Energy from $58.00 to $59.00 and gave the company 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $59.50.

Insiders Place Their Bets

In other NRG Energy news, VP Rasesh M. Patel sold 49,092 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $62.59, for a total transaction of $3,072,668.28. Following the transaction, the vice president now owns 356,962 shares of the company’s stock, valued at $22,342,251.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.86% of the stock is currently owned by 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.