SteelPeak Wealth LLC Takes Position in NRG Energy, Inc. (NYSE:NRG)

SteelPeak Wealth LLC purchased a new position in shares of NRG Energy, Inc. (NYSE:NRG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 26,799 shares of the utilities provider’s stock, valued at approximately $2,418,000.

Other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of NRG Energy by 6.2% during the 3rd quarter. Geode Capital Management LLC now owns 5,399,098 shares of the utilities provider’s stock worth $494,225,000 after buying an additional 313,478 shares during the period. Banco Santander S.A. raised its stake in NRG Energy by 0.9% during the third quarter. Banco Santander S.A. now owns 2,820,500 shares of the utilities provider’s stock worth $256,948,000 after acquiring an additional 24,834 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of NRG Energy by 7.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,663,441 shares of the utilities provider’s stock valued at $242,639,000 after acquiring an additional 182,481 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of NRG Energy by 1,010.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,557,350 shares of the utilities provider’s stock valued at $140,504,000 after purchasing an additional 1,417,057 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of NRG Energy by 52.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,330,706 shares of the utilities provider’s stock worth $121,227,000 after purchasing an additional 456,573 shares during the last quarter. 97.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Evercore ISI raised shares of NRG Energy from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $74.00 to $126.00 in a report on Tuesday, January 21st. Guggenheim lifted their target price on shares of NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. 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. Citigroup lifted their price objective on NRG Energy from $84.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, BMO Capital Markets increased their target price on NRG Energy from $94.00 to $100.00 and gave the stock a “market perform” rating in a report on Tuesday, November 19th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $111.43.

NRG Energy Stock Up 3.8 %

Shares of NRG opened at $101.15 on Wednesday. The business’s fifty day moving average price is $97.73 and its two-hundred day moving average price is $88.87. The firm has a market capitalization of $20.49 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 1.30 and a beta of 1.15. NRG Energy, Inc. has a 52 week low of $51.26 and a 52 week high of $115.38. The company has a debt-to-equity ratio of 5.57, a quick ratio of 1.10 and a current ratio of 1.17.

NRG Energy Increases Dividend

The company also recently declared 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 is a boost from NRG Energy’s previous quarterly dividend of $0.41. The ex-dividend date is Monday, February 3rd. This represents a $1.76 annualized dividend and a yield of 1.74%. NRG Energy’s dividend payout ratio (DPR) is currently 40.95%.

Insider Buying and Selling

In other NRG Energy news, CFO Bruce Chung sold 20,000 shares of the firm’s stock in a transaction that occurred on 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert J. Gaudette sold 60,000 shares of the business’s stock in a transaction dated 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 $5,891,191.68. The trade was a 48.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.