NRG Energy, Inc. (NYSE:NRG - Get Free Report)'s share price dropped 13.5% during trading on Monday . The stock traded as low as $97.12 and last traded at $97.23. Approximately 1,379,996 shares were traded during trading, a decline of 56% from the average daily volume of 3,166,572 shares. The stock had previously closed at $112.37.
Analyst Ratings Changes
NRG has been the topic of several research analyst reports. Citigroup boosted their price target on shares of NRG Energy from $84.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Wells Fargo & Company boosted their price target on shares of NRG Energy from $130.00 to $140.00 and gave the company an "overweight" rating in a report on Monday, November 11th. Guggenheim boosted their price target on shares of NRG Energy from $77.00 to $118.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. Jefferies Financial Group raised shares of NRG Energy from a "hold" rating to a "buy" rating and boosted their target price for the stock from $93.00 to $113.00 in a research report on Tuesday, November 26th. Finally, BMO Capital Markets upped their price objective 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. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $111.43.
Read Our Latest Report on NRG Energy
NRG Energy Stock Performance
The firm has a market cap of $20.79 billion, a P/E ratio of 25.79, a PEG ratio of 1.19 and a beta of 1.15. The stock's 50 day moving average is $98.17 and its two-hundred day moving average is $89.35. The company has a debt-to-equity ratio of 5.57, a current ratio of 1.17 and a quick ratio of 1.10.
NRG Energy Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.71%. This is a boost from NRG Energy's previous quarterly dividend of $0.41. The ex-dividend date is Monday, February 3rd. NRG Energy's dividend payout ratio is currently 40.95%.
Insiders Place Their Bets
In other news, VP Robert J. Gaudette sold 60,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $91.41, for a total transaction of $5,484,600.00. Following the sale, the vice president now directly owns 64,448 shares of the company's stock, valued at $5,891,191.68. This represents a 48.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Bruce Chung sold 20,000 shares of the stock in a transaction that occurred on 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 directly owns 69,454 shares in the company, valued at $6,780,794.02. This trade represents a 22.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.86% of the company's stock.
Institutional Trading of NRG Energy
Several hedge funds have recently modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new position in NRG Energy in the third quarter valued at approximately $26,000. Covestor Ltd lifted its holdings in NRG Energy by 74.7% in the third quarter. Covestor Ltd now owns 325 shares of the utilities provider's stock valued at $30,000 after buying an additional 139 shares during the period. Harbor Capital Advisors Inc. acquired a new position in NRG Energy in the third quarter valued at approximately $35,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in NRG Energy in the third quarter valued at approximately $36,000. Finally, UMB Bank n.a. lifted its holdings in NRG Energy by 100.4% in the fourth quarter. UMB Bank n.a. now owns 455 shares of the utilities provider's stock valued at $41,000 after buying an additional 228 shares during the period. 97.72% of the stock is owned by institutional investors.
About NRG Energy
(
Get Free Report)
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.
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