Alliancebernstein L.P. decreased its stake in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 15.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 262,967 shares of the utilities provider's stock after selling 49,701 shares during the quarter. Alliancebernstein L.P. owned approximately 0.13% of NRG Energy worth $23,725,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. SBI Securities Co. Ltd. purchased a new stake in shares of NRG Energy during the fourth quarter worth approximately $32,000. UMB Bank n.a. grew its holdings in NRG Energy by 100.4% during the 4th quarter. UMB Bank n.a. now owns 455 shares of the utilities provider's stock worth $41,000 after acquiring an additional 228 shares in the last quarter. Princeton Global Asset Management LLC increased its position in shares of NRG Energy by 414.9% in the 4th quarter. Princeton Global Asset Management LLC now owns 484 shares of the utilities provider's stock valued at $44,000 after purchasing an additional 390 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of NRG Energy by 221.0% in the 4th quarter. Larson Financial Group LLC now owns 504 shares of the utilities provider's stock valued at $45,000 after purchasing an additional 347 shares in the last quarter. Finally, Grove Bank & Trust lifted its position in shares of NRG Energy by 29.7% during the 4th quarter. Grove Bank & Trust now owns 564 shares of the utilities provider's stock worth $51,000 after purchasing an additional 129 shares during the last quarter. Institutional investors and hedge funds own 97.72% of the company's stock.
Insider Activity at NRG Energy
In related news, CFO Bruce Chung sold 20,000 shares of the firm's stock in a transaction dated Monday, January 13th. The stock was 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 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 transaction was disclosed in a filing with the SEC, which is available through this link. 0.61% of the stock is owned by insiders.
NRG Energy Stock Performance
NYSE:NRG traded up $1.55 during mid-day trading on Friday, reaching $94.44. 1,634,898 shares of the stock were exchanged, compared to its average volume of 3,076,630. 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 1 year low of $65.11 and a 1 year high of $117.26. The company has a 50 day simple moving average of $98.83 and a 200-day simple moving average of $96.38. The stock has a market capitalization of $19.23 billion, a P/E ratio of 23.73, a P/E/G ratio of 1.01 and a beta of 1.10.
NRG Energy Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be issued a $0.44 dividend. The ex-dividend date is Thursday, May 1st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.86%. NRG Energy's payout ratio is 35.92%.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on NRG shares. Wells Fargo & Company increased their target price on NRG Energy from $140.00 to $165.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. Morgan Stanley increased their price objective on NRG Energy from $86.00 to $99.00 and gave the company an "equal weight" rating in a report on Wednesday, February 19th. Evercore ISI raised NRG Energy from an "in-line" rating to an "outperform" rating and raised their target price for the stock from $74.00 to $126.00 in a research report on Tuesday, January 21st. Guggenheim upped their price target on NRG Energy from $134.00 to $145.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Finally, BMO Capital Markets raised their price objective on shares of NRG Energy from $100.00 to $115.00 and gave the stock a "market perform" rating in a report on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, NRG Energy presently has an average rating of "Moderate Buy" and a consensus price target of $124.00.
Get Our Latest Stock Analysis on NRG Energy
About NRG Energy
(
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.
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