Renaissance Technologies LLC Reduces Stock Position in NRG Energy, Inc. (NYSE:NRG)

Renaissance Technologies LLC trimmed its holdings in shares of NRG Energy, Inc. (NYSE:NRG) by 53.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 231,516 shares of the utilities provider’s stock after selling 268,200 shares during the quarter. Renaissance Technologies LLC’s holdings in NRG Energy were worth $20,887,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. SBI Securities Co. Ltd. purchased a new stake in NRG Energy during the fourth quarter valued at approximately $32,000. UMB Bank n.a. raised its stake in shares of NRG Energy by 100.4% in the fourth quarter. UMB Bank n.a. now owns 455 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 228 shares during the period. Mizuho Bank Ltd. purchased a new stake in shares of NRG Energy in the fourth quarter valued at $41,000. Princeton Global Asset Management LLC boosted its stake in shares of NRG Energy by 414.9% during the 4th quarter. Princeton Global Asset Management LLC now owns 484 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 390 shares during the period. Finally, Larson Financial Group LLC grew its holdings in NRG Energy by 221.0% during the 4th quarter. Larson Financial Group LLC now owns 504 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 347 shares during the last quarter. Institutional investors own 97.72% of the company’s stock.

Wall Street Analysts Forecast Growth

NRG has been the subject of several recent analyst reports. Evercore ISI upgraded NRG Energy from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $74.00 to $126.00 in a research report on Tuesday, January 21st. 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 report on Wednesday, February 19th. The Goldman Sachs Group assumed coverage on NRG Energy in a research note on Friday, April 4th. They issued a “buy” rating and a $129.00 target price on the stock. StockNews.com lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Finally, Guggenheim raised their price target on shares of NRG Energy from $134.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $124.00.

NRG Energy Stock Performance

Shares of NRG Energy 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 stock’s fifty day moving average price is $98.83 and its 200-day moving average price is $96.42. The firm has a market cap of $19.23 billion, a P/E ratio of 23.73, a P/E/G ratio of 1.01 and a beta of 1.10. NRG Energy, Inc. has a 12 month low of $65.11 and a 12 month high of $117.26.

NRG Energy Dividend Announcement

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

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.