CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Buys 3,000 Shares of NRG Energy, Inc. (NYSE:NRG)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its holdings in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 3.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 79,000 shares of the utilities provider's stock after buying an additional 3,000 shares during the quarter. NRG Energy comprises approximately 0.5% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's portfolio, making the stock its 29th biggest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings in NRG Energy were worth $7,127,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Everence Capital Management Inc. acquired a new stake in shares of NRG Energy in the fourth quarter worth approximately $549,000. Meyer Handelman Co. boosted its holdings in shares of NRG Energy by 43.8% in the 4th quarter. Meyer Handelman Co. now owns 78,982 shares of the utilities provider's stock valued at $7,126,000 after purchasing an additional 24,062 shares during the last quarter. Luxor Capital Group LP increased its holdings in shares of NRG Energy by 47.8% during the 3rd quarter. Luxor Capital Group LP now owns 520,591 shares of the utilities provider's stock worth $47,426,000 after buying an additional 168,267 shares during the last quarter. Pine Valley Investments Ltd Liability Co raised its position in shares of NRG Energy by 25.1% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 50,027 shares of the utilities provider's stock worth $4,557,000 after buying an additional 10,031 shares during the period. Finally, Bank of Hawaii boosted its holdings in NRG Energy by 95.5% in the third quarter. Bank of Hawaii now owns 15,685 shares of the utilities provider's stock valued at $1,429,000 after acquiring an additional 7,662 shares during the last quarter. 97.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NRG shares. Wells Fargo & Company raised their price objective on NRG Energy from $130.00 to $140.00 and gave the stock an "overweight" rating in a report on Monday, November 11th. BMO Capital Markets lifted 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 report on Tuesday, November 19th. Evercore ISI raised shares of NRG Energy from an "in-line" rating to an "outperform" rating and increased their price objective for the stock from $74.00 to $126.00 in a research report on Tuesday. Guggenheim upped their price target on shares of NRG Energy from $77.00 to $118.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. Finally, Citigroup boosted their price objective on NRG Energy from $84.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $111.43.

NRG Energy Stock Up 1.6 %

Shares of NYSE NRG traded up $1.77 during midday trading on Friday, reaching $112.31. 4,288,790 shares of the company's stock were exchanged, compared to its average volume of 2,755,494. The company has a debt-to-equity ratio of 5.57, a quick ratio of 1.10 and a current ratio of 1.17. NRG Energy, Inc. has a 52-week low of $51.26 and a 52-week high of $115.38. The business's fifty day moving average price is $97.53 and its two-hundred day moving average price is $88.47. The stock has a market capitalization of $22.75 billion, a PE ratio of 28.22, a price-to-earnings-growth ratio of 1.30 and a beta of 1.15.

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 issued a dividend of $0.44 per share. The ex-dividend date is Monday, February 3rd. This is an increase from NRG Energy's previous quarterly dividend of $0.41. This represents a $1.76 annualized dividend and a yield of 1.57%. NRG Energy's payout ratio is currently 40.95%.

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 shares were sold at an average price of $97.63, for a total transaction of $1,952,600.00. Following the sale, the chief financial officer now owns 69,454 shares in the company, valued at $6,780,794.02. This represents a 22.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert J. Gaudette sold 60,000 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 of the company's stock, valued at $5,891,191.68. This trade represents a 48.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by corporate insiders.

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.