Jupiter Asset Management Ltd. Buys 446,743 Shares of NRG Energy, Inc. (NYSE:NRG)

Jupiter Asset Management Ltd. grew its stake in shares of NRG Energy, Inc. (NYSE:NRG) by 114.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 837,461 shares of the utilities provider’s stock after acquiring an additional 446,743 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in NRG Energy were worth $65,205,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of NRG. Banco Santander S.A. purchased a new stake in NRG Energy during the 2nd quarter valued at about $217,671,000. Capitolis Liquid Global Markets LLC grew its holdings in shares of NRG Energy by 253.2% during the first quarter. Capitolis Liquid Global Markets LLC now owns 1,766,000 shares of the utilities provider’s stock valued at $119,541,000 after buying an additional 1,266,000 shares during the last quarter. Zimmer Partners LP bought a new stake in shares of NRG Energy during the first quarter valued at approximately $64,306,000. Assenagon Asset Management S.A. lifted its position in NRG Energy by 65.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,596,684 shares of the utilities provider’s stock valued at $124,318,000 after acquiring an additional 633,765 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in NRG Energy by 885.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 237,444 shares of the utilities provider’s stock valued at $16,073,000 after purchasing an additional 213,347 shares during the last quarter. Hedge funds and other institutional investors own 97.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NRG shares. Wells Fargo & Company boosted their price target on NRG Energy from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. StockNews.com lowered NRG Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Finally, Morgan Stanley raised their price target on shares of NRG Energy from $70.00 to $83.00 and gave the company an “equal weight” rating in a report on Tuesday, May 28th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $72.57.

NRG Energy Stock Performance

NRG opened at $80.07 on Thursday. The company’s 50 day moving average is $78.18 and its 200 day moving average is $75.15. The company has a current ratio of 1.18, a quick ratio of 1.11 and a debt-to-equity ratio of 3.51. The company has a market cap of $16.69 billion, a price-to-earnings ratio of 11.34 and a beta of 1.10. NRG Energy, Inc. has a 12-month low of $36.61 and a 12-month high of $87.58.

NRG Energy (NYSE:NRG) last issued its quarterly earnings results on Thursday, August 8th. The utilities provider reported $3.37 earnings per share for the quarter, topping the consensus estimate of $1.55 by $1.82. NRG Energy had a net margin of 7.19% and a return on equity of 43.69%. The business had revenue of $6.66 billion for the quarter, compared to analysts’ expectations of $8.32 billion. During the same quarter last year, the company posted $1.10 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts predict that NRG Energy, Inc. will post 4.45 EPS for the current year.

NRG Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were paid a $0.4075 dividend. This represents a $1.63 annualized dividend and a dividend yield of 2.04%. The ex-dividend date was Thursday, August 1st. NRG Energy’s dividend payout ratio (DPR) is currently 23.09%.

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.