Envestnet Portfolio Solutions Inc. Increases Position in NRG Energy, Inc. (NYSE:NRG)

Envestnet Portfolio Solutions Inc. raised its position in NRG Energy, Inc. (NYSE:NRG - Free Report) by 32.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,418 shares of the utilities provider's stock after acquiring an additional 3,561 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in NRG Energy were worth $1,301,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Everence Capital Management Inc. purchased a new stake in NRG Energy during the 4th quarter valued at about $549,000. Meyer Handelman Co. increased its holdings in NRG Energy by 43.8% in the 4th quarter. Meyer Handelman Co. now owns 78,982 shares of the utilities provider's stock worth $7,126,000 after buying an additional 24,062 shares during the period. Luxor Capital Group LP raised its position in 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 lifted its stake in NRG Energy by 25.1% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 50,027 shares of the utilities provider's stock valued at $4,557,000 after acquiring an additional 10,031 shares during the period. Finally, Bank of Hawaii boosted its holdings in shares of NRG Energy by 95.5% in the 3rd 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 hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Guggenheim upped their price target on shares of NRG Energy from $134.00 to $145.00 and gave the company a "buy" rating in a report on Thursday, February 27th. StockNews.com cut NRG Energy from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. Jefferies Financial Group upgraded NRG Energy from a "hold" rating to a "buy" rating and upped their price objective for the stock from $93.00 to $113.00 in a research report on Tuesday, November 26th. Wells Fargo & Company lifted their target price on shares of NRG Energy from $140.00 to $165.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. Finally, Evercore ISI raised shares of NRG Energy from an "in-line" rating to an "outperform" rating and increased their price target for the stock from $74.00 to $126.00 in a report on Tuesday, January 21st. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $123.29.

NRG Energy Price Performance

Shares of NRG traded down $4.93 during trading hours on Wednesday, hitting $97.34. 2,410,145 shares of the stock were exchanged, compared to its average volume of 3,275,949. NRG Energy, Inc. has a 12-month low of $65.11 and a 12-month high of $117.26. 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 stock's 50-day moving average price is $102.28 and its two-hundred day moving average price is $95.43. The company has a market cap of $19.82 billion, a price-to-earnings ratio of 24.46, a price-to-earnings-growth ratio of 1.01 and a beta of 1.13.

NRG Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend was Monday, February 3rd. This is a positive change from NRG Energy's previous quarterly dividend of $0.41. NRG Energy's payout ratio is currently 35.92%.

Insider Activity at NRG Energy

In other NRG Energy news, CFO Bruce Chung sold 20,000 shares of the company's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $97.63, for a total value 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 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. Also, VP Robert J. Gaudette sold 60,000 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 directly owns 64,448 shares in the company, valued at approximately $5,891,191.68. The trade was a 48.21 % decrease in their position. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by insiders.

NRG Energy Company 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.