Cibc World Markets Corp Increases Stock Position in NRG Energy, Inc. (NYSE:NRG)

Cibc World Markets Corp grew its holdings in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 14.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,129 shares of the utilities provider's stock after acquiring an additional 3,961 shares during the quarter. Cibc World Markets Corp's holdings in NRG Energy were worth $2,899,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. SBI Securities Co. Ltd. bought a new stake in NRG Energy in the fourth quarter worth $32,000. UMB Bank n.a. lifted its stake 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 valued at $41,000 after acquiring an additional 228 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in NRG Energy during the 3rd quarter valued at about $43,000. Princeton Global Asset Management LLC grew its position in NRG Energy by 414.9% during the 4th quarter. Princeton Global Asset Management LLC now owns 484 shares of the utilities provider's stock worth $44,000 after acquiring an additional 390 shares during the last quarter. Finally, Larson Financial Group LLC increased its stake in NRG Energy by 221.0% in the 4th quarter. Larson Financial Group LLC now owns 504 shares of the utilities provider's stock worth $45,000 after purchasing an additional 347 shares during the period. 97.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NRG has been the topic of several recent analyst reports. Morgan Stanley raised their target price on shares of NRG Energy from $86.00 to $99.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 19th. StockNews.com lowered shares of NRG Energy from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. Guggenheim boosted their price objective on shares of NRG Energy from $134.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. BMO Capital Markets increased their target price 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, Jefferies Financial Group upgraded NRG Energy from a "hold" rating to a "buy" rating and boosted their price target for the company from $93.00 to $113.00 in a report on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, NRG Energy has a consensus rating of "Moderate Buy" and an average price target of $123.29.

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NRG Energy Trading Down 0.6 %

Shares of NYSE NRG traded down $0.60 during midday trading on Tuesday, hitting $102.26. 2,088,454 shares of the company traded hands, compared to its average volume of 2,949,919. 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 12-month low of $65.11 and a 12-month high of $117.26. The stock has a 50-day moving average price of $102.23 and a 200 day moving average price of $95.25. The firm has a market cap of $20.83 billion, a P/E ratio of 25.69, a P/E/G ratio of 1.01 and a beta of 1.13.

NRG Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were given a $0.44 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.76 annualized dividend and a dividend yield of 1.72%. This is a positive change from NRG Energy's previous quarterly dividend of $0.41. NRG Energy's dividend payout ratio is currently 35.92%.

Insider Activity

In other NRG Energy news, VP Robert J. Gaudette sold 60,000 shares of NRG Energy stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $91.41, for a total transaction of $5,484,600.00. Following the completion of the transaction, the vice president now owns 64,448 shares in the company, valued at approximately $5,891,191.68. The trade was a 48.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the sale, the chief financial officer now directly owns 69,454 shares in the company, valued at approximately $6,780,794.02. This represents a 22.36 % 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 company 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.