Alliancebernstein L.P. Sells 49,701 Shares of NRG Energy, Inc. (NYSE:NRG)

Alliancebernstein L.P. decreased its position in shares of NRG Energy, Inc. (NYSE:NRG) by 15.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 262,967 shares of the utilities provider’s stock after selling 49,701 shares during the period. Alliancebernstein L.P.’s holdings in NRG Energy were worth $23,725,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of NRG Energy by 10.1% in the fourth quarter. Wellington Management Group LLP now owns 241,786 shares of the utilities provider’s stock worth $21,814,000 after purchasing an additional 22,133 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in NRG Energy by 13.2% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 14,782 shares of the utilities provider’s stock worth $1,334,000 after buying an additional 1,726 shares during the period. Clearbridge Investments LLC increased its stake in NRG Energy by 22.1% in the 4th quarter. Clearbridge Investments LLC now owns 41,221 shares of the utilities provider’s stock worth $3,719,000 after buying an additional 7,469 shares in the last quarter. Brandywine Global Investment Management LLC raised its holdings in NRG Energy by 4.7% during the fourth quarter. Brandywine Global Investment Management LLC now owns 1,120,265 shares of the utilities provider’s stock valued at $101,070,000 after acquiring an additional 49,823 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its position in shares of NRG Energy by 64.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 521 shares of the utilities provider’s stock valued at $51,000 after acquiring an additional 205 shares in the last quarter. Hedge funds and other institutional investors own 97.72% of the company’s stock.

NRG Energy Stock Performance

NRG Energy stock opened at $87.16 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.17 and a debt-to-equity ratio of 5.57. NRG Energy, Inc. has a twelve month low of $65.11 and a twelve month high of $117.26. The company’s 50-day moving average price is $100.03 and its 200-day moving average price is $96.32. The company has a market cap of $17.75 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 1.01 and a beta of 1.10.

NRG Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Monday, February 3rd. This is an increase from NRG Energy’s previous quarterly dividend of $0.41. This represents a $1.76 dividend on an annualized basis and a yield of 2.02%. NRG Energy’s dividend payout ratio is 35.92%.

Insider Activity

In related news, CFO Bruce Chung sold 20,000 shares of the 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 sale, the chief financial officer now owns 69,454 shares in the company, valued at approximately $6,780,794.02. This represents a 22.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.86% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Evercore ISI upgraded NRG Energy from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $74.00 to $126.00 in a research report on Tuesday, January 21st. Wells Fargo & Company increased their price objective on shares of NRG Energy from $140.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. The Goldman Sachs Group began coverage on shares of NRG Energy in a report on Friday. They issued a “buy” rating and a $129.00 target price on the stock. StockNews.com cut shares of NRG Energy from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Finally, Guggenheim boosted their price target on shares of NRG Energy from $134.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, NRG Energy currently has a consensus rating of “Moderate Buy” and an average target price of $124.00.

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.