Allstate Corp Buys New Position in NRG Energy, Inc. (NYSE:NRG)

Allstate Corp purchased a new position in NRG Energy, Inc. (NYSE:NRG - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 6,056 shares of the utilities provider's stock, valued at approximately $546,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in NRG Energy in the fourth quarter worth $32,000. UMB Bank n.a. increased its holdings in shares of NRG Energy by 100.4% in 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 during the period. Princeton Global Asset Management LLC lifted its position in 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 boosted its stake in NRG Energy by 221.0% during 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 during the period. Finally, Grove Bank & Trust grew its position in NRG Energy by 29.7% in 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.

NRG Energy Price Performance

Shares of NYSE NRG traded down $9.39 during mid-day trading on Friday, reaching $83.38. The company had a trading volume of 6,875,881 shares, compared to its average volume of 3,080,309. The company has a 50-day moving average price of $100.23 and a two-hundred day moving average price of $96.28. The stock has a market cap of $16.98 billion, a PE ratio of 20.95, a P/E/G ratio of 1.01 and a beta of 1.10. The company has a current ratio of 1.17, a quick ratio of 1.10 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.

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NRG Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.11%. The ex-dividend date was Monday, February 3rd. This is an increase from NRG Energy's previous quarterly dividend of $0.41. NRG Energy's payout ratio is presently 35.92%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NRG shares. The Goldman Sachs Group started coverage on NRG Energy in a research report on Friday. They set a "buy" rating and a $129.00 price objective for the company. Wells Fargo & Company boosted their price target on NRG Energy from $140.00 to $165.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Evercore ISI raised NRG Energy from an "in-line" rating to an "outperform" rating and raised their price target for the company from $74.00 to $126.00 in a report on Tuesday, January 21st. BMO Capital Markets upped 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. Finally, StockNews.com cut shares of NRG Energy from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, NRG Energy has a consensus rating of "Moderate Buy" and an average target price of $124.00.

Insider Buying and Selling at NRG Energy

In related news, CFO Bruce Chung sold 20,000 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $97.63, for a total value of $1,952,600.00. Following the completion of the sale, the chief financial officer now directly owns 69,454 shares of the company's stock, valued at approximately $6,780,794.02. This represents a 22.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.86% of the company's stock.

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.