Raymond James Financial Inc. Takes Position in NRG Energy, Inc. (NYSE:NRG)

Raymond James Financial Inc. acquired a new position in NRG Energy, Inc. (NYSE:NRG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 683,652 shares of the utilities provider's stock, valued at approximately $61,679,000. Raymond James Financial Inc. owned 0.34% of NRG Energy as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ashton Thomas Securities LLC bought a new stake in shares of NRG Energy in the 3rd quarter worth $26,000. Covestor Ltd raised its position in NRG Energy by 74.7% in the third quarter. Covestor Ltd now owns 325 shares of the utilities provider's stock worth $30,000 after acquiring an additional 139 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of NRG Energy in the 4th quarter worth approximately $32,000. UMB Bank n.a. increased its holdings in shares of 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 in the last quarter. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of NRG Energy during the third quarter worth $43,000. Institutional investors own 97.72% of the company's stock.

Analysts Set New Price Targets

NRG has been the topic of several recent analyst reports. BMO Capital Markets boosted their price objective on NRG Energy from $100.00 to $115.00 and gave the stock a "market perform" rating in a report on Monday, March 3rd. Jefferies Financial Group raised shares of NRG Energy from a "hold" rating to a "buy" rating and raised their price objective for the stock from $93.00 to $113.00 in a research note on Tuesday, November 26th. Morgan Stanley boosted their target price on shares of NRG Energy from $86.00 to $99.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 19th. Wells Fargo & Company raised their target price on NRG Energy from $140.00 to $165.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Finally, Evercore ISI raised shares of NRG Energy from an "in-line" rating to an "outperform" rating and boosted their price objective for the company from $74.00 to $126.00 in a research report on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $123.29.

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Insider Buying and Selling

In other NRG Energy news, VP Robert J. Gaudette sold 60,000 shares of NRG Energy 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 transaction, the vice president now directly owns 64,448 shares of the company's stock, valued at $5,891,191.68. The trade was a 48.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Bruce Chung sold 20,000 shares of the company's stock in a transaction that occurred 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 transaction, the chief financial officer now owns 69,454 shares of the company's stock, valued at approximately $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. Corporate insiders own 0.86% of the company's stock.

NRG Energy Stock Down 1.4 %

Shares of NRG traded down $1.30 during mid-day trading on Thursday, hitting $91.17. 3,433,506 shares of the company's stock were exchanged, compared to its average volume of 3,040,707. The stock has a market cap of $18.06 billion, a price-to-earnings ratio of 22.91, a P/E/G ratio of 1.01 and a beta of 1.13. The firm has a fifty day moving average of $102.26 and a two-hundred day moving average of $94.30. The company has a quick ratio of 1.10, a current ratio of 1.17 and a debt-to-equity ratio of 5.57. NRG Energy, Inc. has a twelve month low of $62.40 and a twelve month high of $117.26.

NRG Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were given a $0.44 dividend. The ex-dividend date was Monday, February 3rd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.93%. This is a boost from NRG Energy's previous quarterly dividend of $0.41. NRG Energy's payout ratio is currently 35.92%.

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.