NRG Energy, Inc. (NYSE:NRG) Holdings Lowered by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC reduced its stake in NRG Energy, Inc. (NYSE:NRG) by 20.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,895 shares of the utilities provider’s stock after selling 5,696 shares during the period. Kingsview Wealth Management LLC’s holdings in NRG Energy were worth $1,975,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in NRG Energy in the third quarter worth approximately $26,000. Covestor Ltd raised its stake in shares of NRG Energy by 74.7% in the 3rd quarter. Covestor Ltd now owns 325 shares of the utilities provider’s stock worth $30,000 after buying an additional 139 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in NRG Energy during the third quarter valued at about $35,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in NRG Energy during the third quarter valued at about $36,000. Finally, UMB Bank n.a. raised its position in NRG Energy by 100.4% in the fourth quarter. UMB Bank n.a. now owns 455 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 228 shares in the last quarter. 97.72% of the stock is currently owned by institutional investors.

NRG Energy Stock Performance

Shares of NRG Energy stock opened at $105.24 on Tuesday. NRG Energy, Inc. has a 12 month low of $51.26 and a 12 month high of $115.38. 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 stock has a market cap of $21.32 billion, a PE ratio of 26.44, a price-to-earnings-growth ratio of 1.22 and a beta of 1.15. The business has a fifty day simple moving average of $98.70 and a 200-day simple moving average of $90.66.

NRG Energy Increases Dividend

The firm also recently announced 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 1.67%. The ex-dividend date is Monday, February 3rd. This is a boost from NRG Energy’s previous quarterly dividend of $0.41. NRG Energy’s payout ratio is 44.22%.

Insider Activity

In other news, CFO Bruce Chung sold 20,000 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 69,454 shares in the company, valued at $6,780,794.02. The trade was a 22.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Robert J. Gaudette sold 60,000 shares of the stock in a transaction 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 sale, the vice president now owns 64,448 shares of the company’s stock, valued at approximately $5,891,191.68. This represents a 48.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.86% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NRG shares. Wells Fargo & Company raised their price objective on shares of NRG Energy from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Evercore ISI upgraded shares of NRG Energy from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $74.00 to $126.00 in a research report on Tuesday, January 21st. Citigroup upped their price target on NRG Energy from $84.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, October 31st. BMO Capital Markets raised their price objective on NRG Energy from $94.00 to $100.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 19th. Finally, Jefferies Financial Group raised 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. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, NRG Energy currently has an average rating of “Moderate Buy” and an average target price of $111.43.

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.