Bank of Nova Scotia Has $2.05 Million Position in NRG Energy, Inc. (NYSE:NRG)

Bank of Nova Scotia grew its stake in NRG Energy, Inc. (NYSE:NRG) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,698 shares of the utilities provider’s stock after buying an additional 623 shares during the period. Bank of Nova Scotia’s holdings in NRG Energy were worth $2,048,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. McIlrath & Eck LLC increased its position in NRG Energy by 4.5% during the 3rd quarter. McIlrath & Eck LLC now owns 2,630 shares of the utilities provider’s stock valued at $240,000 after purchasing an additional 113 shares during the period. Schechter Investment Advisors LLC increased its position in shares of NRG Energy by 0.8% during the fourth quarter. Schechter Investment Advisors LLC now owns 15,916 shares of the utilities provider’s stock worth $1,436,000 after buying an additional 120 shares during the period. Mather Group LLC. raised its stake in NRG Energy by 18.4% during the fourth quarter. Mather Group LLC. now owns 803 shares of the utilities provider’s stock worth $72,000 after buying an additional 125 shares during the last quarter. Grove Bank & Trust lifted its holdings in NRG Energy by 29.7% in the fourth quarter. Grove Bank & Trust now owns 564 shares of the utilities provider’s stock valued at $51,000 after buying an additional 129 shares during the period. Finally, Hanseatic Management Services Inc. boosted its position in NRG Energy by 12.0% during the fourth quarter. Hanseatic Management Services Inc. now owns 1,244 shares of the utilities provider’s stock valued at $112,000 after acquiring an additional 133 shares during the last quarter. 97.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NRG. Morgan Stanley boosted their price objective on NRG Energy from $86.00 to $99.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Guggenheim increased their price target on NRG Energy from $134.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Evercore ISI upgraded shares of NRG Energy from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $74.00 to $126.00 in a research note on Tuesday, January 21st. The Goldman Sachs Group began coverage on shares of NRG Energy in a research note on Friday, April 4th. They set a “buy” rating and a $129.00 target price on the stock. Finally, Wells Fargo & Company lifted their price target on shares of NRG Energy from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $124.00.

NRG Energy Stock Performance

Shares of NRG stock opened at $94.44 on Monday. The company has a current ratio of 1.17, a quick ratio of 1.10 and a debt-to-equity ratio of 5.57. The firm has a fifty day simple moving average of $98.83 and a two-hundred day simple moving average of $96.42. NRG Energy, Inc. has a 12 month low of $65.11 and a 12 month high of $117.26. The firm has a market capitalization of $19.23 billion, a PE ratio of 23.73, a price-to-earnings-growth ratio of 1.01 and a beta of 1.10.

NRG Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Thursday, May 1st. NRG Energy’s payout ratio is presently 35.92%.

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.