M&T Bank Corp Has $8.62 Million Position in NRG Energy, Inc. $NRG

M&T Bank Corp increased its holdings in shares of NRG Energy, Inc. (NYSE:NRG) by 71.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,124 shares of the utilities provider’s stock after acquiring an additional 22,542 shares during the quarter. M&T Bank Corp’s holdings in NRG Energy were worth $8,619,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of NRG Energy by 5.5% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 115,471 shares of the utilities provider’s stock worth $18,403,000 after acquiring an additional 5,993 shares during the last quarter. Eagle Global Advisors LLC increased its holdings in shares of NRG Energy by 33.1% during the 4th quarter. Eagle Global Advisors LLC now owns 10,016 shares of the utilities provider’s stock worth $1,595,000 after acquiring an additional 2,490 shares during the last quarter. Optas LLC increased its holdings in shares of NRG Energy by 11.8% during the 4th quarter. Optas LLC now owns 1,476 shares of the utilities provider’s stock worth $235,000 after acquiring an additional 156 shares during the last quarter. Duncker Streett & Co. Inc. acquired a new position in shares of NRG Energy during the 4th quarter worth approximately $448,000. Finally, TD Waterhouse Canada Inc. increased its holdings in shares of NRG Energy by 2.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 8,939 shares of the utilities provider’s stock worth $1,423,000 after acquiring an additional 176 shares during the last quarter. 97.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Wells Fargo & Company boosted their target price on NRG Energy from $202.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Morgan Stanley reduced their price target on NRG Energy from $157.00 to $154.00 and set an “equal weight” rating for the company in a research note on Tuesday. Evercore started coverage on NRG Energy in a research note on Wednesday, February 25th. They issued an “outperform” rating and a $215.00 price target for the company. Wolfe Research upgraded NRG Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target for the company in a research note on Wednesday, March 18th. Finally, Weiss Ratings downgraded NRG Energy from a “buy (b)” rating to a “hold (c+)” rating in a research note on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, NRG Energy currently has a consensus rating of “Moderate Buy” and an average price target of $198.29.

NRG Energy Stock Performance

NRG opened at $159.68 on Friday. The business has a fifty day simple moving average of $160.58 and a 200 day simple moving average of $161.10. The company has a market capitalization of $34.26 billion, a PE ratio of 40.53 and a beta of 1.35. NRG Energy, Inc. has a 1 year low of $105.30 and a 1 year high of $189.96. The company has a debt-to-equity ratio of 15.92, a current ratio of 1.64 and a quick ratio of 1.58.

NRG Energy (NYSE:NRG) last released its quarterly earnings results on Tuesday, February 24th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.15). The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $6.68 billion. NRG Energy had a net margin of 2.81% and a return on equity of 109.48%. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.56 earnings per share. Research analysts expect that NRG Energy, Inc. will post 8.81 EPS for the current year.

NRG Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be given a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, May 1st. NRG Energy’s dividend payout ratio is presently 48.22%.

Insider Buying and Selling at NRG Energy

In other news, VP Virginia Kinney sold 5,000 shares of the company’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $156.65, for a total transaction of $783,250.00. Following the completion of the sale, the vice president directly owned 55,495 shares in the company, valued at approximately $8,693,291.75. This represents a 8.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.43% of the company’s stock.

NRG Energy Profile

NRG Energy (NYSE: NRG) is a U.S.-based integrated power company headquartered in Houston, Texas. The company develops, owns and operates a diversified portfolio of power generation assets and participates in wholesale and retail energy markets. NRG supplies electricity to utilities, commercial and industrial customers, and retail consumers, while also providing energy-related products and services designed to manage consumption and support reliability.

NRG’s generation mix includes conventional thermal plants as well as renewable and distributed energy resources.