Assenagon Asset Management S.A. Acquires New Shares in NRG Energy, Inc. (NYSE:NRG)

Posted by on Mar 22nd, 2023

Assenagon Asset Management S.A. acquired a new stake in NRG Energy, Inc. (NYSE:NRG – Get Rating) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 651,460 shares of the utilities provider’s stock, valued at approximately $20,729,000. Assenagon Asset Management S.A. owned approximately 0.28% of NRG Energy at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cowa LLC bought a new stake in shares of NRG Energy in the third quarter valued at about $27,000. Kistler Tiffany Companies LLC raised its holdings in shares of NRG Energy by 92.7% in the third quarter. Kistler Tiffany Companies LLC now owns 867 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 417 shares in the last quarter. Ronald Blue Trust Inc. raised its holdings in shares of NRG Energy by 163.0% in the third quarter. Ronald Blue Trust Inc. now owns 1,073 shares of the utilities provider’s stock valued at $40,000 after acquiring an additional 665 shares in the last quarter. MinichMacGregor Wealth Management LLC purchased a new position in NRG Energy in the fourth quarter valued at about $52,000. Finally, Atlas Capital Advisors LLC purchased a new position in NRG Energy in the second quarter valued at about $80,000. 99.98% of the stock is currently owned by institutional investors.

NRG Energy Price Performance

Shares of NRG stock opened at $33.19 on Wednesday. NRG Energy, Inc. has a fifty-two week low of $30.25 and a fifty-two week high of $47.82. The firm has a market capitalization of $7.71 billion, a price-to-earnings ratio of 6.56, a PEG ratio of 6.05 and a beta of 0.99. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.19 and a current ratio of 1.25. The stock’s 50-day simple moving average is $33.31 and its 200-day simple moving average is $37.35.

NRG Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 15th. Investors of record on Wednesday, February 1st were issued a dividend of $0.3775 per share. This is an increase from NRG Energy’s previous quarterly dividend of $0.35. The ex-dividend date was Tuesday, January 31st. This represents a $1.51 dividend on an annualized basis and a dividend yield of 4.55%. NRG Energy’s payout ratio is 29.84%.

Analyst Ratings Changes

Several research firms have issued reports on NRG. Morgan Stanley lifted their target price on NRG Energy from $37.00 to $39.00 and gave the company an “equal weight” rating in a research note on Monday, January 23rd. BMO Capital Markets cut their target price on NRG Energy from $46.00 to $43.00 in a research note on Thursday, December 8th. UBS Group lowered NRG Energy from a “neutral” rating to a “sell” rating in a research note on Wednesday, December 7th. TheStreet lowered NRG Energy from a “b-” rating to a “c” rating in a research note on Thursday, February 16th. Finally, Bank of America upgraded NRG Energy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $35.00 to $36.00 in a research note on Monday. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $41.00.

NRG Energy Profile

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NRG Energy, Inc engages in the production, sale, and distribution of energy and energy services. It operates through the following segments: Generation, Retail, and Corporate. The Generation segment includes all power plant activities, domestic and international, as well as renewables. The Retail segment includes mass customers and business solutions, and other distributed and reliability products.

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Institutional Ownership by Quarter for NRG Energy (NYSE:NRG)

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