NRG Energy, Inc. (NYSE:NRG) Shares Purchased by Cibc World Markets Corp

Cibc World Markets Corp boosted its position in NRG Energy, Inc. (NYSE:NRG) by 14.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,129 shares of the utilities provider’s stock after acquiring an additional 3,961 shares during the quarter. Cibc World Markets Corp’s holdings in NRG Energy were worth $2,899,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Everence Capital Management Inc. acquired a new position in NRG Energy in the fourth quarter valued at $549,000. Meyer Handelman Co. lifted its stake in shares of NRG Energy by 43.8% during the fourth quarter. Meyer Handelman Co. now owns 78,982 shares of the utilities provider’s stock worth $7,126,000 after purchasing an additional 24,062 shares in the last quarter. Luxor Capital Group LP lifted its stake in shares of NRG Energy by 47.8% during the third quarter. Luxor Capital Group LP now owns 520,591 shares of the utilities provider’s stock worth $47,426,000 after purchasing an additional 168,267 shares in the last quarter. Pine Valley Investments Ltd Liability Co lifted its stake in shares of NRG Energy by 25.1% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 50,027 shares of the utilities provider’s stock worth $4,557,000 after purchasing an additional 10,031 shares in the last quarter. Finally, Bank of Hawaii lifted its stake in shares of NRG Energy by 95.5% during the third quarter. Bank of Hawaii now owns 15,685 shares of the utilities provider’s stock worth $1,429,000 after purchasing an additional 7,662 shares in the last quarter. Institutional investors and hedge funds own 97.72% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on NRG shares. Wells Fargo & Company boosted their price objective on NRG Energy from $140.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. StockNews.com cut NRG Energy from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Morgan Stanley boosted 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. Guggenheim lifted their target price on NRG Energy from $134.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Finally, BMO Capital Markets lifted their target price on NRG Energy from $100.00 to $115.00 and gave the stock a “market perform” rating in a research report on Monday, March 3rd. 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, NRG Energy has a consensus rating of “Moderate Buy” and a consensus target price of $123.29.

Insider Activity at NRG Energy

In related news, CFO Bruce Chung sold 20,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 69,454 shares of the company’s stock, valued at $6,780,794.02. The trade was a 22.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Robert J. Gaudette sold 60,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were 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 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.

NRG Energy Stock Up 1.5 %

Shares of NYSE NRG opened at $99.70 on Friday. NRG Energy, Inc. has a 1 year low of $65.11 and a 1 year high of $117.26. The firm has a market cap of $20.30 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 1.01 and a beta of 1.13. The company has a debt-to-equity ratio of 5.57, a quick ratio of 1.10 and a current ratio of 1.17. The stock’s 50-day simple moving average is $102.09 and its 200-day simple moving average is $94.76.

NRG Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were issued a $0.44 dividend. This is a positive change from NRG Energy’s previous quarterly dividend of $0.41. This represents a $1.76 annualized dividend and a yield of 1.77%. The ex-dividend date was Monday, February 3rd. NRG Energy’s payout ratio is currently 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.