Korea Investment CORP Sells 44,739 Shares of NRG Energy, Inc. (NYSE:NRG)

Korea Investment CORP decreased its position in NRG Energy, Inc. (NYSE:NRG - Free Report) by 15.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 251,721 shares of the utilities provider's stock after selling 44,739 shares during the quarter. Korea Investment CORP owned 0.12% of NRG Energy worth $22,710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of NRG. SBI Securities Co. Ltd. purchased a new stake in shares of NRG Energy in the 4th quarter valued at $32,000. UMB Bank n.a. lifted its stake in NRG Energy by 100.4% in the fourth quarter. UMB Bank n.a. now owns 455 shares of the utilities provider's stock worth $41,000 after purchasing an additional 228 shares during the last quarter. Princeton Global Asset Management LLC boosted its position in NRG Energy by 414.9% during the fourth quarter. Princeton Global Asset Management LLC now owns 484 shares of the utilities provider's stock valued at $44,000 after buying an additional 390 shares during the period. Larson Financial Group LLC grew its stake in shares of NRG Energy by 221.0% during the fourth quarter. Larson Financial Group LLC now owns 504 shares of the utilities provider's stock valued at $45,000 after buying an additional 347 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in shares of NRG Energy in the third quarter worth about $46,000. Hedge funds and other institutional investors own 97.72% of the company's stock.

Insiders Place Their Bets

In other news, CFO Bruce Chung sold 20,000 shares of the stock in a transaction on 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.86% of the company's stock.

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Wall Street Analyst Weigh In

NRG has been the topic of several recent research reports. Guggenheim raised their price target on NRG Energy from $134.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Wells Fargo & Company raised their target price on shares of NRG Energy from $140.00 to $165.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th. BMO Capital Markets upped their price target on shares of NRG Energy from $100.00 to $115.00 and gave the company a "market perform" rating in a report on Monday, March 3rd. StockNews.com lowered shares of NRG Energy from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. Finally, Morgan Stanley upped their price target on NRG Energy from $86.00 to $99.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $123.29.

NRG Energy Stock Down 8.4 %

NRG stock traded down $8.60 during midday trading on Thursday, hitting $94.28. The stock had a trading volume of 886,239 shares, compared to its average volume of 3,186,339. The company has a debt-to-equity ratio of 5.57, a current ratio of 1.17 and a quick ratio of 1.10. The firm has a market cap of $19.20 billion, a price-to-earnings ratio of 23.69, a price-to-earnings-growth ratio of 1.01 and a beta of 1.13. The business has a 50-day moving average of $101.16 and a two-hundred day moving average of $96.08. NRG Energy, Inc. has a 52-week low of $65.11 and a 52-week high of $117.26.

NRG Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.76 annualized dividend and a yield of 1.87%. This is a positive change from NRG Energy's previous quarterly dividend of $0.41. NRG Energy's payout ratio is presently 35.92%.

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.