KBC Group NV lessened its holdings in NRG Energy, Inc. (NYSE:NRG – Free Report) by 5.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,361 shares of the utilities provider’s stock after selling 1,074 shares during the period. KBC Group NV’s holdings in NRG Energy were worth $1,747,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in NRG Energy in the third quarter worth about $26,000. Covestor Ltd increased its holdings in shares of NRG Energy by 74.7% during the third quarter. Covestor Ltd now owns 325 shares of the utilities provider’s stock worth $30,000 after buying an additional 139 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of NRG Energy during the third quarter worth approximately $35,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of NRG Energy during the third quarter worth approximately $36,000. Finally, UMB Bank n.a. increased its holdings in shares of NRG Energy by 100.4% during the fourth quarter. UMB Bank n.a. now owns 455 shares of the utilities provider’s stock worth $41,000 after buying an additional 228 shares in the last quarter. Institutional investors and hedge funds own 97.72% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on NRG shares. Citigroup raised their price objective on shares of NRG Energy from $84.00 to $100.00 and gave the stock 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 price objective for the stock from $93.00 to $113.00 in a report on Tuesday, November 26th. Evercore ISI raised shares of NRG Energy from an “in-line” rating to an “outperform” rating and increased their price target for the company from $74.00 to $126.00 in a research note on Tuesday, January 21st. BMO Capital Markets increased 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. Finally, Guggenheim increased their price target on shares of NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and five have issued 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 $111.43.
Insider Buying and Selling at NRG Energy
In other news, 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 transaction, the chief financial officer now directly owns 69,454 shares of the company’s stock, valued at $6,780,794.02. This trade represents a 22.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Robert J. Gaudette sold 60,000 shares of NRG Energy stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $91.41, for a total transaction of $5,484,600.00. Following the transaction, the vice president now directly owns 64,448 shares in the company, valued at approximately $5,891,191.68. This represents a 48.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.86% of the company’s stock.
NRG Energy Price Performance
Shares of NRG stock opened at $102.65 on Friday. NRG Energy, Inc. has a 52-week low of $51.26 and a 52-week high of $115.38. The stock has a market cap of $20.79 billion, a PE ratio of 25.79, a PEG ratio of 1.19 and a beta of 1.15. The company has a debt-to-equity ratio of 5.57, a quick ratio of 1.10 and a current ratio of 1.17. The firm’s 50 day moving average price is $98.17 and its two-hundred day moving average price is $89.35.
NRG Energy Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be paid a $0.44 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This is a boost from NRG Energy’s previous quarterly dividend of $0.41. This represents a $1.76 dividend on an annualized basis and a yield of 1.71%. NRG Energy’s dividend payout ratio (DPR) is presently 40.95%.
NRG Energy Profile
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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