Corient Private Wealth LLC Reduces Stock Position in NRG Energy, Inc. (NYSE:NRG)

Corient Private Wealth LLC lessened its position in shares of NRG Energy, Inc. (NYSE:NRG) by 5.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 68,495 shares of the utilities provider’s stock after selling 4,330 shares during the quarter. Corient Private Wealth LLC’s holdings in NRG Energy were worth $6,179,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of NRG. SBI Securities Co. Ltd. purchased a new stake in shares of NRG Energy in the fourth quarter worth about $32,000. UMB Bank n.a. boosted its stake in shares of NRG Energy by 100.4% in the fourth quarter. UMB Bank n.a. now owns 455 shares of the utilities provider’s stock worth $41,000 after buying an additional 228 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of NRG Energy in the third quarter worth about $43,000. Princeton Global Asset Management LLC boosted its stake in shares of NRG Energy by 414.9% in the fourth quarter. Princeton Global Asset Management LLC now owns 484 shares of the utilities provider’s stock worth $44,000 after buying an additional 390 shares during the last quarter. Finally, Larson Financial Group LLC boosted its stake in shares of NRG Energy by 221.0% in the fourth quarter. Larson Financial Group LLC now owns 504 shares of the utilities provider’s stock worth $45,000 after buying an additional 347 shares during the last quarter. Hedge funds and other institutional investors own 97.72% of the company’s stock.

Insider Buying and Selling

In other news, CFO Bruce Chung sold 20,000 shares of the firm’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 transaction, the chief financial officer now directly owns 69,454 shares in the company, valued at $6,780,794.02. This trade represents a 22.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Robert J. Gaudette sold 60,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was 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 of the company’s stock, valued at approximately $5,891,191.68. This represents a 48.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NRG has been the topic of a number of recent analyst reports. Morgan Stanley increased their price target on NRG Energy from $86.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. Guggenheim increased their price target on NRG Energy from $134.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Jefferies Financial Group upgraded NRG Energy from a “hold” rating to a “buy” rating and increased their price target for the stock 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 increased their price target for the stock from $74.00 to $126.00 in a research report on Tuesday, January 21st. Finally, BMO Capital Markets increased their price target on NRG Energy from $100.00 to $115.00 and gave the stock a “market perform” rating in a research report on Monday, March 3rd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, NRG Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.29.

NRG Energy Trading Up 1.0 %

Shares of NRG Energy stock opened at $100.63 on Friday. The firm has a market capitalization of $20.49 billion, a price-to-earnings ratio of 25.28, a PEG ratio of 1.01 and a beta of 1.13. NRG Energy, Inc. has a fifty-two week low of $65.11 and a fifty-two week high of $117.26. 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 stock has a 50 day moving average of $102.12 and a 200 day moving average of $94.86.

NRG Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.75%. This is a positive change from NRG Energy’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Monday, February 3rd. NRG Energy’s dividend payout ratio is presently 35.92%.

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.