Bleakley Financial Group LLC Cuts Stock Position in NRG Energy, Inc. (NYSE:NRG)

Bleakley Financial Group LLC lessened its stake in NRG Energy, Inc. (NYSE:NRG) by 16.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,282 shares of the utilities provider’s stock after selling 446 shares during the quarter. Bleakley Financial Group LLC’s holdings in NRG Energy were worth $206,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC lifted its position in NRG Energy by 6.2% during the third quarter. Geode Capital Management LLC now owns 5,399,098 shares of the utilities provider’s stock valued at $494,225,000 after purchasing an additional 313,478 shares during the last quarter. Banco Santander S.A. lifted its stake in NRG Energy by 0.9% in the third quarter. Banco Santander S.A. now owns 2,820,500 shares of the utilities provider’s stock worth $256,948,000 after acquiring an additional 24,834 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in NRG Energy by 7.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,663,441 shares of the utilities provider’s stock valued at $242,639,000 after purchasing an additional 182,481 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in NRG Energy by 1,010.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,557,350 shares of the utilities provider’s stock valued at $140,504,000 after acquiring an additional 1,417,057 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in NRG Energy by 52.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,330,706 shares of the utilities provider’s stock worth $121,227,000 after purchasing an additional 456,573 shares during the last quarter. Hedge funds and other institutional investors own 97.72% of the company’s stock.

Insider Transactions at NRG Energy

In other news, CFO Bruce Chung sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $97.63, for a total transaction of $1,952,600.00. Following the sale, the chief financial officer now owns 69,454 shares of the company’s stock, valued at $6,780,794.02. The trade was a 22.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert J. Gaudette sold 60,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $91.41, for a total value of $5,484,600.00. Following the completion of the transaction, the vice president now owns 64,448 shares of the company’s stock, valued at approximately $5,891,191.68. This represents a 48.21 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.86% of the company’s stock.

NRG Energy Price Performance

Shares of NYSE NRG opened at $102.57 on Thursday. The stock’s 50-day simple moving average is $98.85 and its 200-day simple moving average is $90.96. NRG Energy, Inc. has a fifty-two week low of $51.31 and a fifty-two week high of $115.38. The company has a debt-to-equity ratio of 5.57, a quick ratio of 1.10 and a current ratio of 1.17. The firm has a market capitalization of $20.78 billion, a PE ratio of 25.77, a price-to-earnings-growth ratio of 1.22 and a beta of 1.15.

NRG Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 3rd will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $1.76 dividend on an annualized basis and a yield of 1.72%. This is a boost from NRG Energy’s previous quarterly dividend of $0.41. NRG Energy’s dividend payout ratio is currently 44.22%.

Analysts Set New Price Targets

A number of research firms have commented on NRG. Citigroup increased their price target on NRG Energy from $84.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Wells Fargo & Company increased their target price on NRG Energy from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. BMO Capital Markets raised their target price on shares of NRG Energy from $94.00 to $100.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 19th. Jefferies Financial Group raised NRG Energy from a “hold” rating to a “buy” rating and raised their target price for the stock from $93.00 to $113.00 in a research note on Tuesday, November 26th. Finally, Evercore ISI upgraded NRG Energy from an “in-line” rating to an “outperform” rating and raised their target price for the company from $74.00 to $126.00 in a report on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $111.43.

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.