Lonestar Capital Management LLC Purchases Shares of 33,000 NRG Energy, Inc. (NYSE:NRG)

by · The Cerbat Gem

Lonestar Capital Management LLC acquired a new position in NRG Energy, Inc. (NYSE:NRG – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 33,000 shares of the utilities provider’s stock, valued at approximately $2,977,000. NRG Energy accounts for approximately 1.1% of Lonestar Capital Management LLC’s portfolio, making the stock its 15th largest holding.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NRG. Banco Santander S.A. grew its holdings in NRG Energy by 0.3% during the 4th quarter. Banco Santander S.A. now owns 2,828,000 shares of the utilities provider’s stock valued at $255,142,000 after buying an additional 7,500 shares in the last quarter. Appaloosa LP lifted its position in NRG Energy by 81.5% during the fourth quarter. Appaloosa LP now owns 1,815,000 shares of the utilities provider’s stock valued at $163,749,000 after purchasing an additional 815,180 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of NRG Energy by 1,010.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,557,350 shares of the utilities provider’s stock worth $140,504,000 after buying an additional 1,417,057 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of NRG Energy by 4.2% in the 4th quarter. Russell Investments Group Ltd. now owns 1,414,186 shares of the utilities provider’s stock worth $127,614,000 after buying an additional 56,944 shares in the last quarter. Finally, Prudential Financial Inc. increased its holdings in shares of NRG Energy by 3.1% in the 4th quarter. Prudential Financial Inc. now owns 1,374,245 shares of the utilities provider’s stock worth $123,984,000 after buying an additional 41,094 shares during the last quarter. 97.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NRG. Guggenheim lifted their target price on NRG Energy from $134.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. 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. The Goldman Sachs Group began coverage on shares of NRG Energy in a report on Friday, April 4th. They set a “buy” rating and a $129.00 target price on the stock. Morgan Stanley lifted their price target on NRG Energy from $86.00 to $99.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Finally, BMO Capital Markets increased their target price on shares of NRG Energy from $100.00 to $115.00 and gave the company a “market perform” rating in a research report on Monday, March 3rd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.00.

Check Out Our Latest Research Report on NRG Energy

NRG Energy Stock Performance

Shares of NRG stock opened at $108.36 on Monday. The business has a fifty day moving average of $97.63 and a 200 day moving average of $96.94. NRG Energy, Inc. has a 1 year low of $65.11 and a 1 year high of $117.26. The company has a debt-to-equity ratio of 5.57, a current ratio of 1.17 and a quick ratio of 1.10. The firm has a market capitalization of $22.07 billion, a price-to-earnings ratio of 27.23, a price-to-earnings-growth ratio of 1.01 and a beta of 1.10.

NRG Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be issued a $0.44 dividend. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $1.76 annualized dividend and a yield of 1.62%. NRG Energy’s dividend payout ratio (DPR) is presently 35.92%.

NRG Energy Profile

(Free Report)

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.

See Also

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