Jupiter Asset Management Ltd. Purchases Shares of 186,397 NRG Energy, Inc. $NRG

Jupiter Asset Management Ltd. bought a new stake in NRG Energy, Inc. (NYSE:NRG) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 186,397 shares of the utilities provider’s stock, valued at approximately $30,187,000.

Several other institutional investors have also added to or reduced their stakes in the company. Daymark Wealth Partners LLC lifted its holdings in shares of NRG Energy by 2.2% during the second quarter. Daymark Wealth Partners LLC now owns 2,944 shares of the utilities provider’s stock worth $473,000 after buying an additional 64 shares in the last quarter. New Wave Wealth Advisors LLC raised its stake in NRG Energy by 3.0% in the 3rd quarter. New Wave Wealth Advisors LLC now owns 2,222 shares of the utilities provider’s stock worth $360,000 after purchasing an additional 65 shares in the last quarter. Golden State Equity Partners grew its position in shares of NRG Energy by 4.7% during the 3rd quarter. Golden State Equity Partners now owns 1,589 shares of the utilities provider’s stock worth $257,000 after purchasing an additional 72 shares in the last quarter. Zions Bancorporation National Association UT raised its position in shares of NRG Energy by 19.8% in the third quarter. Zions Bancorporation National Association UT now owns 459 shares of the utilities provider’s stock valued at $74,000 after buying an additional 76 shares in the last quarter. Finally, Optivise Advisory Services LLC boosted its stake in shares of NRG Energy by 5.1% in the third quarter. Optivise Advisory Services LLC now owns 1,670 shares of the utilities provider’s stock valued at $270,000 after buying an additional 81 shares during the period. 97.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NRG Energy

In other news, VP Robert J. Gaudette sold 45,000 shares of the firm’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $158.76, for a total transaction of $7,144,200.00. Following the completion of the transaction, the vice president owned 63,920 shares of the company’s stock, valued at approximately $10,147,939.20. This trade represents a 41.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brian Curci sold 60,580 shares of NRG Energy stock in a transaction on Monday, January 5th. The stock was sold at an average price of $161.71, for a total transaction of $9,796,391.80. Following the transaction, the vice president owned 93,089 shares in the company, valued at approximately $15,053,422.19. This trade represents a 39.42% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 172,556 shares of company stock worth $27,550,446. 0.86% of the stock is currently owned by company insiders.

NRG Energy Trading Up 2.4%

Shares of NRG stock opened at $175.14 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.05 and a debt-to-equity ratio of 8.45. The firm has a market capitalization of $37.60 billion, a P/E ratio of 26.18 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 stock’s fifty day simple moving average is $156.50 and its 200 day simple moving average is $160.16.

NRG Energy declared that its Board of Directors has initiated a share repurchase plan on Thursday, November 6th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the utilities provider to purchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

NRG Energy Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NRG. UBS Group began coverage on NRG Energy in a research report on Tuesday, December 9th. They set a “buy” rating and a $211.00 target price for the company. Wells Fargo & Company increased their price target on shares of NRG Energy from $202.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Zacks Research cut NRG Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Jefferies Financial Group decreased their price target on NRG Energy from $198.00 to $181.00 and set a “buy” rating on the stock in a research note on Tuesday, January 27th. Finally, BMO Capital Markets upped their price objective on NRG Energy from $185.00 to $195.00 and gave the stock a “market perform” rating in a research report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $185.73.

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.