Prospera Financial Services Inc Sells 8,015 Shares of NRG Energy, Inc. $NRG

Prospera Financial Services Inc cut its holdings in NRG Energy, Inc. (NYSE:NRG) by 78.2% during the 3rd quarter, Holdings Channel reports. The firm owned 2,228 shares of the utilities provider’s stock after selling 8,015 shares during the period. Prospera Financial Services Inc’s holdings in NRG Energy were worth $361,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Oppenheimer & Co. Inc. grew its position in shares of NRG Energy by 6.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 16,683 shares of the utilities provider’s stock worth $2,702,000 after buying an additional 1,044 shares during the last quarter. Linden Thomas Advisory Services LLC lifted its stake in NRG Energy by 3.4% in the third quarter. Linden Thomas Advisory Services LLC now owns 35,042 shares of the utilities provider’s stock worth $5,675,000 after acquiring an additional 1,157 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in NRG Energy by 44.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 24,896 shares of the utilities provider’s stock valued at $4,032,000 after acquiring an additional 7,628 shares in the last quarter. Plato Investment Management Ltd increased its position in NRG Energy by 5,087.9% during the 3rd quarter. Plato Investment Management Ltd now owns 1,712 shares of the utilities provider’s stock valued at $275,000 after purchasing an additional 1,679 shares during the period. Finally, B.O.S.S. Retirement Advisors LLC bought a new position in NRG Energy in the 3rd quarter worth $251,000. Institutional investors own 97.72% of the company’s stock.

NRG Energy Stock Up 0.6%

NRG stock opened at $173.41 on Wednesday. The business has a 50 day moving average of $156.35 and a 200 day moving average of $159.97. The firm has a market cap of $37.23 billion, a PE ratio of 25.92 and a beta of 1.27. NRG Energy, Inc. has a twelve month low of $79.57 and a twelve month high of $180.54. The company has a quick ratio of 0.99, a current ratio of 1.05 and a debt-to-equity ratio of 8.45.

NRG Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd were paid a $0.475 dividend. This is a boost from NRG Energy’s previous quarterly dividend of $0.44. This represents a $1.90 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Monday, February 2nd. NRG Energy’s dividend payout ratio (DPR) is presently 28.40%.

NRG Energy declared that its board has initiated a share repurchase program on Thursday, November 6th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the utilities provider to buy up to 9.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

NRG has been the topic of several research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of NRG Energy in a research report on Monday, December 29th. Zacks Research lowered NRG Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. BMO Capital Markets raised their target price on NRG Energy from $185.00 to $195.00 and gave the company a “market perform” rating in a research note on Friday, November 7th. UBS Group started coverage on NRG Energy in a research note on Tuesday, December 9th. They issued a “buy” rating and a $211.00 price target on the stock. Finally, Wells Fargo & Company raised their price objective on NRG Energy from $202.00 to $206.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $185.73.

Insiders Place Their Bets

In related news, CFO Bruce Chung sold 12,383 shares of the company’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $156.56, for a total transaction of $1,938,682.48. Following the completion of the sale, the chief financial officer owned 79,147 shares in the company, valued at approximately $12,391,254.32. This represents a 13.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brian Curci sold 46,976 shares of the stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $158.84, for a total value of $7,461,667.84. Following the completion of the transaction, the vice president directly owned 46,113 shares in the company, valued at approximately $7,324,588.92. This represents a 50.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 172,556 shares of company stock valued at $27,550,446. Company insiders own 0.61% of the company’s stock.

NRG Energy Company Profile

NRG Energy (NYSE: NRG) is a U.S.-based integrated power company headquartered in Houston, Texas. The company develops, owns and operates a diversified portfolio of power generation assets and participates in wholesale and retail energy markets. NRG supplies electricity to utilities, commercial and industrial customers, and retail consumers, while also providing energy-related products and services designed to manage consumption and support reliability.

NRG’s generation mix includes conventional thermal plants as well as renewable and distributed energy resources.