CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Buys 3,000 Shares of NRG Energy, Inc. (NYSE:NRG)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its position in shares of NRG Energy, Inc. (NYSE:NRG) by 3.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,000 shares of the utilities provider’s stock after buying an additional 3,000 shares during the quarter. NRG Energy accounts for approximately 0.5% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings, making the stock its 29th largest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in NRG Energy were worth $7,127,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NRG. Ashton Thomas Securities LLC bought a new position in NRG Energy in the third quarter valued at about $26,000. Covestor Ltd increased its position in shares of NRG Energy by 74.7% during the 3rd quarter. Covestor Ltd now owns 325 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 139 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of NRG Energy in the 3rd quarter worth approximately $35,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of NRG Energy in the third quarter worth approximately $36,000. Finally, UMB Bank n.a. grew its position in NRG Energy by 100.4% during the fourth quarter. UMB Bank n.a. now owns 455 shares of the utilities provider’s stock valued at $41,000 after buying an additional 228 shares during the period. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NRG Energy

In other news, VP Robert J. Gaudette sold 60,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $91.41, for a total transaction of $5,484,600.00. Following the completion of the transaction, the vice president now directly owns 64,448 shares in the company, valued at approximately $5,891,191.68. This represents a 48.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Bruce Chung sold 20,000 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now 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 corporate insiders.

Analyst Ratings Changes

NRG has been the topic of several analyst reports. Guggenheim lifted their price target on shares of NRG Energy from $77.00 to $118.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Jefferies Financial Group upgraded NRG Energy from a “hold” rating to a “buy” rating and lifted their target price for the company from $93.00 to $113.00 in a research report on Tuesday, November 26th. Evercore ISI upgraded NRG Energy from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $74.00 to $126.00 in a research report on Tuesday. BMO Capital Markets lifted their price objective on NRG Energy from $94.00 to $100.00 and gave the company a “market perform” rating in a research report on Tuesday, November 19th. Finally, Wells Fargo & Company increased their target price on shares of NRG Energy from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, NRG Energy has a consensus rating of “Moderate Buy” and a consensus target price of $111.43.

NRG Energy Stock Up 1.6 %

NYSE NRG opened at $112.31 on Friday. The stock’s 50 day moving average is $97.53 and its 200 day moving average is $88.47. The company has a current ratio of 1.17, a quick ratio of 1.10 and a debt-to-equity ratio of 5.57. NRG Energy, Inc. has a 12 month low of $51.26 and a 12 month high of $115.38. The stock has a market cap of $22.75 billion, a PE ratio of 28.22, a P/E/G ratio of 1.30 and a beta of 1.15.

NRG Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Monday, February 3rd. This is an increase from NRG Energy’s previous quarterly dividend of $0.41. NRG Energy’s payout ratio is 40.95%.

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.