Korea Investment CORP Has $22.71 Million Stock Holdings in NRG Energy, Inc. (NYSE:NRG)

Korea Investment CORP cut its holdings in shares of NRG Energy, Inc. (NYSE:NRG) by 15.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 251,721 shares of the utilities provider’s stock after selling 44,739 shares during the period. Korea Investment CORP’s holdings in NRG Energy were worth $22,710,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. M&T Bank Corp increased its holdings in NRG Energy by 0.3% during the 3rd quarter. M&T Bank Corp now owns 38,213 shares of the utilities provider’s stock worth $3,481,000 after purchasing an additional 113 shares in the last quarter. McIlrath & Eck LLC grew its holdings in NRG Energy by 4.5% during the third quarter. McIlrath & Eck LLC now owns 2,630 shares of the utilities provider’s stock worth $240,000 after buying an additional 113 shares in the last quarter. Schechter Investment Advisors LLC raised its position in NRG Energy by 0.8% in the 4th quarter. Schechter Investment Advisors LLC now owns 15,916 shares of the utilities provider’s stock valued at $1,436,000 after buying an additional 120 shares during the last quarter. Mather Group LLC. lifted its stake in NRG Energy by 18.4% during the 4th quarter. Mather Group LLC. now owns 803 shares of the utilities provider’s stock valued at $72,000 after acquiring an additional 125 shares in the last quarter. Finally, Grove Bank & Trust boosted its holdings in NRG Energy by 29.7% during the 4th quarter. Grove Bank & Trust now owns 564 shares of the utilities provider’s stock worth $51,000 after acquiring an additional 129 shares during the last quarter. Institutional investors and hedge funds own 97.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NRG shares. Evercore ISI raised shares of NRG Energy from an “in-line” rating to an “outperform” rating and raised their price target for the company from $74.00 to $126.00 in a research report on Tuesday, January 21st. Wells Fargo & Company boosted their target price on NRG Energy from $140.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. StockNews.com downgraded NRG Energy from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Morgan Stanley boosted their price objective 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. Finally, Guggenheim raised their target price on NRG Energy from $134.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $123.29.

NRG Energy Stock Performance

NYSE:NRG opened at $95.05 on Friday. NRG Energy, Inc. has a 1 year low of $65.11 and a 1 year high of $117.26. The company has a debt-to-equity ratio of 5.57, a current ratio of 1.17 and a quick ratio of 1.10. The business has a fifty day simple moving average of $101.75 and a two-hundred day simple moving average of $95.69. The company has a market capitalization of $19.36 billion, a P/E ratio of 23.88, a P/E/G ratio of 1.01 and a beta of 1.13.

NRG Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were paid a $0.44 dividend. This is a boost from NRG Energy’s previous quarterly dividend of $0.41. This represents a $1.76 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Monday, February 3rd. NRG Energy’s payout ratio is currently 35.92%.

Insider Buying and Selling at NRG Energy

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 sale, the vice president now owns 64,448 shares of the company’s stock, valued at $5,891,191.68. The trade was a 48.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Bruce Chung sold 20,000 shares of the firm’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 completion of the transaction, the chief financial officer now directly owns 69,454 shares of the company’s stock, valued at approximately $6,780,794.02. This trade represents a 22.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.86% of the company’s stock.

About NRG Energy

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.