NRG Energy, Inc. (NYSE:NRG) Shares Acquired by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC boosted its position in NRG Energy, Inc. (NYSE:NRG) by 64.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 521 shares of the utilities provider’s stock after buying an additional 205 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in NRG Energy were worth $51,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Everence Capital Management Inc. acquired a new position in shares of NRG Energy in the fourth quarter worth about $549,000. Meyer Handelman Co. increased its holdings in NRG Energy by 43.8% during the 4th quarter. Meyer Handelman Co. now owns 78,982 shares of the utilities provider’s stock worth $7,126,000 after purchasing an additional 24,062 shares during the last quarter. Pine Valley Investments Ltd Liability Co raised its position in shares of NRG Energy by 25.1% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 50,027 shares of the utilities provider’s stock valued at $4,557,000 after purchasing an additional 10,031 shares in the last quarter. CWA Asset Management Group LLC purchased a new position in shares of NRG Energy during the 4th quarter valued at approximately $1,340,000. Finally, Affinity Wealth Management LLC grew its position in shares of NRG Energy by 7.8% during the fourth quarter. Affinity Wealth Management LLC now owns 42,748 shares of the utilities provider’s stock worth $3,857,000 after buying an additional 3,084 shares in the last quarter. 97.72% of the stock is owned by hedge funds and other institutional investors.

NRG Energy Stock Performance

Shares of NRG stock opened at $85.71 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.17 and a debt-to-equity ratio of 5.57. The business has a 50 day moving average of $99.42 and a two-hundred day moving average of $96.24. The company has a market cap of $17.46 billion, a P/E ratio of 21.54, a PEG ratio of 1.01 and a beta of 1.10. NRG Energy, Inc. has a 52 week low of $65.11 and a 52 week high of $117.26.

NRG Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were paid a dividend of $0.44 per share. 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 2.05%. The ex-dividend date of this dividend was Monday, February 3rd. NRG Energy’s dividend payout ratio is presently 35.92%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Evercore ISI raised shares of NRG Energy from an “in-line” rating to an “outperform” rating and upped their price target for the company from $74.00 to $126.00 in a report on Tuesday, January 21st. BMO Capital Markets upped their target price on shares of NRG Energy from $100.00 to $115.00 and gave the company a “market perform” rating in a research note on Monday, March 3rd. The Goldman Sachs Group initiated coverage on NRG Energy in a research note on Friday, April 4th. They issued a “buy” rating and a $129.00 price target for the company. Morgan Stanley upped their price objective on NRG Energy from $86.00 to $99.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company lifted their target price on NRG Energy from $140.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.00.

Insiders Place Their Bets

In other NRG Energy news, CFO Bruce Chung sold 20,000 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $97.63, for a total value of $1,952,600.00. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this link. 0.86% of the stock is owned by corporate insiders.

NRG Energy Company 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.