Spirit of America Management Corp NY Has $198,000 Holdings in NRG Energy, Inc. (NYSE:NRG)

Spirit of America Management Corp NY boosted its holdings in NRG Energy, Inc. (NYSE:NRG) by 120.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,200 shares of the utilities provider’s stock after purchasing an additional 1,200 shares during the quarter. Spirit of America Management Corp NY’s holdings in NRG Energy were worth $198,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Stratos Wealth Partners LTD. raised its stake in NRG Energy by 11.6% in the fourth quarter. Stratos Wealth Partners LTD. now owns 2,707 shares of the utilities provider’s stock valued at $244,000 after purchasing an additional 281 shares in the last quarter. Yousif Capital Management LLC raised its position in shares of NRG Energy by 16.3% in the 4th quarter. Yousif Capital Management LLC now owns 33,230 shares of the utilities provider’s stock valued at $2,998,000 after buying an additional 4,660 shares in the last quarter. Guidance Capital Inc. lifted its holdings in shares of NRG Energy by 8.0% during the 4th quarter. Guidance Capital Inc. now owns 14,114 shares of the utilities provider’s stock worth $1,273,000 after acquiring an additional 1,043 shares during the period. Mather Group LLC. increased its stake in NRG Energy by 18.4% in the fourth quarter. Mather Group LLC. now owns 803 shares of the utilities provider’s stock valued at $72,000 after acquiring an additional 125 shares during the last quarter. Finally, abrdn plc lifted its stake in NRG Energy by 11.2% during the fourth quarter. abrdn plc now owns 102,022 shares of the utilities provider’s stock worth $9,282,000 after purchasing an additional 10,242 shares during the last quarter. Institutional investors and hedge funds own 97.72% of the company’s stock.

Insider Buying and Selling

In other news, VP Robert J. Gaudette sold 60,000 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now owns 64,448 shares in the company, valued at approximately $5,891,191.68. The trade was a 48.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Bruce Chung sold 20,000 shares of NRG Energy 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 transaction, the chief financial officer now directly owns 69,454 shares of the company’s stock, valued at $6,780,794.02. This represents a 22.36 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.

Analyst Ratings Changes

NRG has been the topic of several recent analyst reports. Citigroup lifted 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. Evercore ISI raised NRG Energy from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $74.00 to $126.00 in a research note on Tuesday, January 21st. Jefferies Financial Group upgraded shares of NRG Energy from a “hold” rating to a “buy” rating and raised their price target for the company from $93.00 to $113.00 in a research note on Tuesday, November 26th. Wells Fargo & Company upped their price objective on shares of NRG Energy from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Finally, BMO Capital Markets raised their target price on shares of NRG Energy from $94.00 to $100.00 and gave the company a “market perform” rating in a research report on Tuesday, November 19th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.43.

NRG Energy Trading Up 1.1 %

NRG opened at $102.76 on Thursday. The company has a debt-to-equity ratio of 5.57, a current ratio of 1.17 and a quick ratio of 1.10. NRG Energy, Inc. has a fifty-two week low of $51.26 and a fifty-two week high of $115.38. The company’s 50 day moving average price is $98.47 and its two-hundred day moving average price is $89.95. The firm has a market capitalization of $20.82 billion, a price-to-earnings ratio of 25.82, a PEG ratio of 1.21 and a beta of 1.15.

NRG Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 3rd will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.71%. This is an increase from NRG Energy’s previous quarterly dividend of $0.41. The ex-dividend date is Monday, February 3rd. NRG Energy’s dividend payout ratio is presently 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.