Hillsdale Investment Management Inc. Purchases Shares of 6,310 NRG Energy, Inc. $NRG

Hillsdale Investment Management Inc. acquired a new position in shares of NRG Energy, Inc. (NYSE:NRG) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,310 shares of the utilities provider’s stock, valued at approximately $1,022,000.

Other institutional investors also recently modified their holdings of the company. Quent Capital LLC bought a new stake in NRG Energy during the 3rd quarter worth approximately $25,000. Bank of Jackson Hole Trust acquired a new position in NRG Energy in the second quarter worth $28,000. Atlantic Union Bankshares Corp grew its holdings in shares of NRG Energy by 90.4% during the third quarter. Atlantic Union Bankshares Corp now owns 179 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 85 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new stake in shares of NRG Energy in the second quarter valued at $32,000. Finally, Twin Peaks Wealth Advisors LLC bought a new position in shares of NRG Energy in the second quarter valued at about $35,000. Institutional investors own 97.72% of the company’s stock.

Insider Buying and Selling

In related news, CFO Bruce Chung sold 12,383 shares of NRG Energy stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $156.56, for a total transaction of $1,938,682.48. Following the transaction, the chief financial officer owned 79,147 shares of the company’s stock, valued at $12,391,254.32. This trade represents a 13.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brian Curci sold 60,580 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $161.71, for a total transaction of $9,796,391.80. Following the completion of the sale, the vice president directly owned 93,089 shares of the company’s stock, valued at $15,053,422.19. The trade was a 39.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 172,556 shares of company stock valued at $27,550,446 in the last 90 days. 0.61% of the stock is owned by insiders.

NRG Energy Trading Down 1.3%

NYSE NRG opened at $176.79 on Tuesday. NRG Energy, Inc. has a 12 month low of $79.57 and a 12 month high of $182.04. The stock has a 50-day simple moving average of $157.19 and a 200 day simple moving average of $160.36. The company has a current ratio of 1.05, a quick ratio of 0.99 and a debt-to-equity ratio of 8.45. The company has a market capitalization of $37.95 billion, a PE ratio of 26.43 and a beta of 1.27.

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

NRG Energy Increases Dividend

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

Analyst Upgrades and Downgrades

NRG has been the topic of a number of research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of NRG Energy in a report on Monday, December 29th. Morgan Stanley set a $153.00 price target on shares of NRG Energy in a research note on Tuesday, February 17th. Zacks Research lowered shares of NRG Energy from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. UBS Group initiated coverage on NRG Energy in a report on Tuesday, December 9th. They set a “buy” rating and a $211.00 price objective on the stock. Finally, Wells Fargo & Company increased 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 investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and two have issued a Sell 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 $188.45.

About NRG Energy

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.