Corient Private Wealth LLC Decreases Stock Position in NRG Energy, Inc. (NYSE:NRG)

Corient Private Wealth LLC cut its stake in NRG Energy, Inc. (NYSE:NRG) by 5.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,495 shares of the utilities provider’s stock after selling 4,330 shares during the period. Corient Private Wealth LLC’s holdings in NRG Energy were worth $6,179,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NRG. Oppenheimer & Co. Inc. purchased a new position in NRG Energy in the third quarter valued at $431,000. Caprock Group LLC boosted its holdings in NRG Energy by 19.1% in the third quarter. Caprock Group LLC now owns 3,439 shares of the utilities provider’s stock valued at $313,000 after purchasing an additional 552 shares during the period. Prospera Financial Services Inc raised its stake in NRG Energy by 29.0% in the third quarter. Prospera Financial Services Inc now owns 10,650 shares of the utilities provider’s stock valued at $970,000 after buying an additional 2,394 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in NRG Energy in the third quarter valued at $502,000. Finally, Commerce Bank raised its stake in NRG Energy by 526.6% in the third quarter. Commerce Bank now owns 39,513 shares of the utilities provider’s stock valued at $3,600,000 after buying an additional 33,207 shares in the last quarter. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NRG Energy

In related news, VP Robert J. Gaudette sold 60,000 shares of the business’s stock in a transaction dated 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 transaction, the vice president now owns 64,448 shares in the company, valued at $5,891,191.68. The trade was a 48.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Bruce Chung sold 20,000 shares of NRG Energy stock in a transaction that occurred on Monday, January 13th. The shares were 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 in the company, valued at $6,780,794.02. This represents 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 insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Guggenheim raised their price target on NRG Energy from $134.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Jefferies Financial Group upgraded NRG Energy from a “hold” rating to a “buy” rating and raised their price target for the company from $93.00 to $113.00 in a research note on Tuesday, November 26th. Morgan Stanley raised their price target on NRG Energy from $86.00 to $99.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Evercore ISI upgraded NRG Energy from an “in-line” rating to an “outperform” rating and raised their price target for the company from $74.00 to $126.00 in a research note on Tuesday, January 21st. Finally, Wells Fargo & Company lifted their target price on NRG Energy from $140.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $123.29.

NRG Energy Stock Performance

Shares of NRG stock opened at $100.63 on Friday. The stock has a market capitalization of $20.49 billion, a PE ratio of 25.28, a price-to-earnings-growth ratio of 1.01 and a beta of 1.13. NRG Energy, Inc. has a 52-week low of $65.11 and a 52-week high of $117.26. The stock’s 50-day moving average price is $102.12 and its 200 day moving average price is $94.86. The company has a quick ratio of 1.10, a current ratio of 1.17 and a debt-to-equity ratio of 5.57.

NRG Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost from NRG Energy’s previous quarterly dividend of $0.41. NRG Energy’s payout ratio is 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.