Glaxis Capital Management LLC Takes $567,000 Position in NRG Energy, Inc. $NRG

Glaxis Capital Management LLC acquired a new position in shares of NRG Energy, Inc. (NYSE:NRG) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 3,500 shares of the utilities provider’s stock, valued at approximately $567,000. NRG Energy comprises approximately 0.9% of Glaxis Capital Management LLC’s portfolio, making the stock its 26th largest holding.

Several other institutional investors also recently bought and sold shares of NRG. Affinity Wealth Management LLC increased its position in shares of NRG Energy by 1.0% during the third quarter. Affinity Wealth Management LLC now owns 43,943 shares of the utilities provider’s stock worth $7,117,000 after purchasing an additional 415 shares in the last quarter. MidWestOne Financial Group Inc. grew its stake in NRG Energy by 58.1% during the 3rd quarter. MidWestOne Financial Group Inc. now owns 19,992 shares of the utilities provider’s stock worth $3,238,000 after buying an additional 7,344 shares during the last quarter. CENTRAL TRUST Co raised its stake in NRG Energy by 1.3% in the third quarter. CENTRAL TRUST Co now owns 14,408 shares of the utilities provider’s stock valued at $2,333,000 after buying an additional 178 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new stake in NRG Energy in the third quarter worth about $104,000. Finally, Assetmark Inc. grew its stake in shares of NRG Energy by 22.0% during the third quarter. Assetmark Inc. now owns 591,763 shares of the utilities provider’s stock worth $95,836,000 after acquiring an additional 106,539 shares during the last quarter. 97.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NRG has been the topic of several research analyst reports. Zacks Research downgraded shares of NRG Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of NRG Energy in a report on Monday, December 29th. UBS Group started coverage on NRG Energy in a research note on Tuesday, December 9th. They issued a “buy” rating and a $211.00 target price for the company. Jefferies Financial Group cut their price objective on NRG Energy from $198.00 to $181.00 and set a “buy” rating on the stock in a report on Tuesday, January 27th. Finally, Morgan Stanley reaffirmed an “underperform” rating on shares of NRG Energy in a report on Thursday, November 20th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $184.91.

Insider Activity

In related news, CFO Bruce Chung sold 12,383 shares of the company’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $156.56, for a total value of $1,938,682.48. Following the completion of the transaction, the chief financial officer owned 79,147 shares of the company’s stock, valued at approximately $12,391,254.32. This represents a 13.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Brian Curci sold 46,976 shares of the business’s stock in a transaction that occurred on 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 sale, the vice president owned 46,113 shares of the company’s stock, valued at $7,324,588.92. This trade represents a 50.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 172,556 shares of company stock worth $27,550,446 in the last ninety days. Company insiders own 0.86% of the company’s stock.

NRG Energy Price Performance

Shares of NYSE NRG opened at $172.60 on Friday. The company has a debt-to-equity ratio of 8.45, a current ratio of 1.05 and a quick ratio of 0.99. The stock has a market capitalization of $37.05 billion, a price-to-earnings ratio of 25.80 and a beta of 1.27. The firm’s 50 day simple moving average is $156.04 and its 200-day simple moving average is $159.94. NRG Energy, Inc. has a 12 month low of $79.57 and a 12 month high of $180.54.

NRG Energy Increases Dividend

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

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

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.