NewEdge Wealth LLC Has $58.01 Million Position in NRG Energy, Inc. $NRG

NewEdge Wealth LLC lifted its holdings in NRG Energy, Inc. (NYSE:NRG) by 13.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 334,959 shares of the utilities provider’s stock after buying an additional 38,603 shares during the period. NRG Energy comprises approximately 0.8% of NewEdge Wealth LLC’s portfolio, making the stock its 25th biggest position. NewEdge Wealth LLC’s holdings in NRG Energy were worth $58,012,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of NRG. Aviva PLC lifted its position in shares of NRG Energy by 9.7% in the second quarter. Aviva PLC now owns 155,392 shares of the utilities provider’s stock worth $24,953,000 after buying an additional 13,757 shares during the last quarter. Reaves W H & Co. Inc. raised its stake in shares of NRG Energy by 122.8% in the 3rd quarter. Reaves W H & Co. Inc. now owns 295,471 shares of the utilities provider’s stock valued at $47,852,000 after acquiring an additional 162,874 shares in the last quarter. MidWestOne Financial Group Inc. lifted its holdings in NRG Energy by 58.1% in the 3rd quarter. MidWestOne Financial Group Inc. now owns 19,992 shares of the utilities provider’s stock worth $3,238,000 after purchasing an additional 7,344 shares during the last quarter. Border to Coast Pensions Partnership Ltd bought a new stake in NRG Energy during the third quarter worth approximately $27,003,000. Finally, American Century Companies Inc. grew its holdings in NRG Energy by 68.2% during the second quarter. American Century Companies Inc. now owns 251,366 shares of the utilities provider’s stock valued at $40,364,000 after purchasing an additional 101,922 shares during the last quarter. 97.72% of the stock is owned by institutional investors and hedge funds.

NRG Energy Stock Down 1.3%

NYSE NRG opened at $171.24 on Thursday. NRG Energy, Inc. has a 1-year low of $79.57 and a 1-year high of $180.54. 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 stock’s 50 day moving average is $156.41 and its two-hundred day moving average is $160.05. The company has a market capitalization of $36.76 billion, a price-to-earnings ratio of 25.60 and a beta of 1.27.

NRG Energy announced that its board has authorized a share buyback plan on Thursday, November 6th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the utilities provider to repurchase up to 9.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

NRG Energy Increases Dividend

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

Insider Buying and Selling at NRG Energy

In other news, CFO Bruce Chung sold 12,383 shares of the business’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $156.56, for a total value of $1,938,682.48. Following the sale, the chief financial officer owned 79,147 shares in the company, valued at approximately $12,391,254.32. The trade was a 13.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brian Curci sold 60,580 shares of the company’s stock in a transaction dated 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 completion of the sale, the vice president directly owned 93,089 shares in the company, valued at approximately $15,053,422.19. The trade was a 39.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 172,556 shares of company stock valued at $27,550,446. 0.86% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

NRG has been the subject of a number of research analyst reports. Jefferies Financial Group cut their price target on NRG Energy from $198.00 to $181.00 and set a “buy” rating for the company in a report on Tuesday, January 27th. BMO Capital Markets upped their target price on shares of NRG Energy from $185.00 to $195.00 and gave the company a “market perform” rating in a research note on Friday, November 7th. Weiss Ratings reissued a “buy (b)” rating on shares of NRG Energy in a report on Monday, December 29th. UBS Group began coverage on shares of NRG Energy in a report on Tuesday, December 9th. They set a “buy” rating and a $211.00 price objective on the stock. Finally, Morgan Stanley set a $153.00 price objective on shares of NRG Energy in a research report on Tuesday. One 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 given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $185.73.

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.