Sierra Summit Advisors LLC Purchases 4,518 Shares of NRG Energy, Inc. (NYSE:NRG)

Sierra Summit Advisors LLC lifted its holdings in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 36.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 17,027 shares of the utilities provider's stock after acquiring an additional 4,518 shares during the period. Sierra Summit Advisors LLC's holdings in NRG Energy were worth $1,536,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in NRG. Assenagon Asset Management S.A. boosted its holdings in NRG Energy by 1,010.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,557,350 shares of the utilities provider's stock valued at $140,504,000 after purchasing an additional 1,417,057 shares in the last quarter. Boston Partners bought a new stake in NRG Energy in the fourth quarter valued at $94,346,000. Appaloosa LP raised its stake in NRG Energy by 81.5% during the fourth quarter. Appaloosa LP now owns 1,815,000 shares of the utilities provider's stock worth $163,749,000 after acquiring an additional 815,180 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in shares of NRG Energy by 350.4% in the 4th quarter. Teacher Retirement System of Texas now owns 904,265 shares of the utilities provider's stock valued at $81,583,000 after purchasing an additional 703,481 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of NRG Energy in the 4th quarter worth about $61,679,000. 97.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other NRG Energy news, CFO Bruce Chung sold 20,000 shares of the firm's stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $97.63, for a total transaction of $1,952,600.00. Following the transaction, the chief financial officer now owns 69,454 shares in the company, valued at approximately $6,780,794.02. This trade represents a 22.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is currently owned by insiders.

Remove Ads

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on NRG shares. StockNews.com lowered shares of NRG Energy from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. Wells Fargo & Company boosted their target price on NRG Energy from $140.00 to $165.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th. The Goldman Sachs Group began coverage on NRG Energy in a report on Friday, April 4th. They set a "buy" rating and a $129.00 price target for the company. 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 research note on Monday, March 3rd. Finally, Guggenheim raised their target price on NRG Energy from $134.00 to $145.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, NRG Energy currently has an average rating of "Moderate Buy" and an average price target of $124.00.

NRG Energy Trading Up 1.7 %

Shares of NRG traded up $1.55 during trading hours on Friday, hitting $94.44. 1,634,898 shares of the stock traded hands, compared to its average volume of 3,076,630. The business has a fifty day moving average of $98.83 and a 200-day moving average of $96.38. The company has a current ratio of 1.17, a quick ratio of 1.10 and a debt-to-equity ratio of 5.57. The firm has a market capitalization of $19.23 billion, a PE ratio of 23.73, a price-to-earnings-growth ratio of 1.01 and a beta of 1.10. NRG Energy, Inc. has a 1-year low of $65.11 and a 1-year high of $117.26.

NRG Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Thursday, May 1st. NRG Energy's dividend payout ratio is 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.