By otakuyassine3@gmail.com 
CIBC Asset Management Inc raised its position in NRG Energy, Inc. (NYSE:NRG – Free Report) by 3.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 31,095 shares of the utilities provider’s stock after purchasing an additional 931 shares during the quarter. CIBC Asset Management Inc’s holdings in NRG Energy were worth $2,805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in the company. M&T Bank Corp increased its position in NRG Energy by 0.3% during the third quarter. M&T Bank Corp now owns 38,213 shares of the utilities provider’s stock worth $3,481,000 after acquiring an additional 113 shares during the period. McIlrath & Eck LLC increased its position in NRG Energy by 4.5% during the third quarter. McIlrath & Eck LLC now owns 2,630 shares of the utilities provider’s stock worth $240,000 after acquiring an additional 113 shares during the period. Mather Group LLC. increased its holdings in NRG Energy by 18.4% in the 4th quarter. Mather Group LLC. now owns 803 shares of the utilities provider’s stock valued at $72,000 after buying an additional 125 shares during the period. Grove Bank & Trust increased its holdings in NRG Energy by 29.7% in the 4th quarter. Grove Bank & Trust now owns 564 shares of the utilities provider’s stock valued at $51,000 after buying an additional 129 shares during the period. Finally, Hanseatic Management Services Inc. increased its holdings in NRG Energy by 12.0% in the 4th quarter. Hanseatic Management Services Inc. now owns 1,244 shares of the utilities provider’s stock valued at $112,000 after buying an additional 133 shares during the period. Institutional investors and hedge funds own 97.72% of the company’s stock.
Wall Street Analyst Weigh In
NRG has been the topic of several recent analyst reports. Evercore ISI raised shares of NRG Energy from an “in-line” rating to an “outperform” rating and raised their target price for the company from $74.00 to $126.00 in a report on Tuesday, January 21st. Citigroup raised their target price on shares of NRG Energy from $84.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Jefferies Financial Group raised shares of NRG Energy from a “hold” rating to a “buy” rating and raised their target price for the company from $93.00 to $113.00 in a report on Tuesday, November 26th. Morgan Stanley raised their price target on shares of NRG Energy from $86.00 to $99.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, BMO Capital Markets raised their price target on shares of NRG Energy from $94.00 to $100.00 and gave the company a “market perform” rating in a research note on Tuesday, November 19th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $113.71.
Read Our Latest Stock Analysis on NRG
NRG Energy Stock Performance
NYSE:NRG opened at $111.14 on Friday. The company has a fifty day moving average of $100.37 and a 200-day moving average of $92.35. The firm has a market capitalization of $22.51 billion, a P/E ratio of 27.92, a P/E/G ratio of 1.32 and a beta of 1.15. The company has a quick ratio of 1.10, a current ratio of 1.17 and a debt-to-equity ratio of 5.57. NRG Energy, Inc. has a twelve month low of $51.49 and a twelve month high of $115.38.
NRG Energy Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were paid a $0.44 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.76 annualized dividend and a dividend yield of 1.58%. This is a positive change from NRG Energy’s previous quarterly dividend of $0.41. NRG Energy’s payout ratio is currently 44.22%.
Insider Activity
In other news, VP Robert J. Gaudette sold 60,000 shares of NRG Energy stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $91.41, for a total value of $5,484,600.00. Following the completion of the sale, the vice president now owns 64,448 shares in the company, valued at $5,891,191.68. The trade was a 48.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Bruce Chung sold 20,000 shares of NRG Energy stock in a transaction on Monday, January 13th. The shares were sold at an average price of $97.63, for a total transaction of $1,952,600.00. Following the completion of the sale, the chief financial officer now owns 69,454 shares of the company’s stock, valued at $6,780,794.02. This represents a 22.36 % decrease in their position. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by company insiders.
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.
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