Victory Capital Management Inc. Trims Stock Position in NRG Energy, Inc. (NYSE:NRG)

Victory Capital Management Inc. decreased its position in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 15.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 750,801 shares of the utilities provider's stock after selling 137,316 shares during the period. Victory Capital Management Inc. owned 0.37% of NRG Energy worth $67,737,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Keybank National Association OH increased its position in NRG Energy by 5.0% in the fourth quarter. Keybank National Association OH now owns 3,302 shares of the utilities provider's stock worth $298,000 after purchasing an additional 157 shares during the last quarter. Schechter Investment Advisors LLC raised its holdings in NRG Energy by 0.8% during the 4th quarter. Schechter Investment Advisors LLC now owns 15,916 shares of the utilities provider's stock valued at $1,436,000 after buying an additional 120 shares during the period. Fidelis Capital Partners LLC lifted its holdings in shares of NRG Energy by 6.7% in the 4th quarter. Fidelis Capital Partners LLC now owns 2,625 shares of the utilities provider's stock worth $237,000 after acquiring an additional 165 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in NRG Energy during the 4th quarter valued at about $32,000. Finally, Jones Financial Companies Lllp raised its position in NRG Energy by 85.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,817 shares of the utilities provider's stock worth $164,000 after purchasing an additional 835 shares during the period. 97.72% of the stock is owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other news, VP Robert J. Gaudette sold 60,000 shares of the company's 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 completion of the sale, the vice president now directly owns 64,448 shares in the company, 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 at this link. Also, CFO Bruce Chung sold 20,000 shares of NRG Energy 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 in the company, valued at approximately $6,780,794.02. The trade was a 22.36 % decrease in their position. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on NRG. StockNews.com downgraded shares of NRG Energy from a "buy" rating to a "hold" rating in a research note on Saturday. Jefferies Financial Group raised shares of NRG Energy from a "hold" rating to a "buy" rating and raised their target price for the stock from $93.00 to $113.00 in a research report on Tuesday, November 26th. BMO Capital Markets boosted their price target on NRG Energy from $100.00 to $115.00 and gave the company a "market perform" rating in a report on Monday, March 3rd. Morgan Stanley increased their price objective on NRG Energy from $86.00 to $99.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 19th. Finally, Guggenheim lifted their target price on NRG Energy from $134.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $123.29.

NRG Energy Price Performance

Shares of NRG Energy stock traded down $3.51 during mid-day trading on Monday, reaching $84.58. 6,156,240 shares of the stock traded hands, compared to its average volume of 3,035,896. The company has a quick ratio of 1.10, a current ratio of 1.17 and a debt-to-equity ratio of 5.57. The business has a 50-day moving average of $102.41 and a 200 day moving average of $94.26. The stock has a market capitalization of $16.75 billion, a PE ratio of 21.25, a PEG ratio of 1.01 and a beta of 1.13. NRG Energy, Inc. has a fifty-two week low of $59.50 and a fifty-two week high of $117.26.

NRG Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were issued a $0.44 dividend. The ex-dividend date was Monday, February 3rd. This represents a $1.76 dividend on an annualized basis and a yield of 2.08%. This is a positive change from NRG Energy's previous quarterly dividend of $0.41. NRG Energy's dividend payout ratio (DPR) is presently 35.92%.

NRG Energy 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.