CIBC Asset Management Inc Purchases 2,131 Shares of NRG Energy, Inc. (NYSE:NRG)

CIBC Asset Management Inc raised its position in NRG Energy, Inc. (NYSE:NRG) by 7.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,164 shares of the utilities provider’s stock after buying an additional 2,131 shares during the quarter. CIBC Asset Management Inc’s holdings in NRG Energy were worth $2,748,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in NRG Energy during the third quarter valued at about $26,000. Covestor Ltd lifted its stake in shares of NRG Energy by 74.7% during the 3rd quarter. Covestor Ltd now owns 325 shares of the utilities provider’s stock valued at $30,000 after buying an additional 139 shares in the last quarter. Rothschild Investment LLC bought a new position in NRG Energy in the 2nd quarter worth approximately $32,000. First Horizon Advisors Inc. grew its stake in NRG Energy by 76.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider’s stock valued at $34,000 after buying an additional 191 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in NRG Energy during the 3rd quarter valued at $35,000. Hedge funds and other institutional investors own 97.72% of the company’s stock.

NRG Energy Stock Performance

NRG Energy stock opened at $93.23 on Tuesday. NRG Energy, Inc. has a fifty-two week low of $44.90 and a fifty-two week high of $102.84. 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 market cap of $18.89 billion, a P/E ratio of 23.42, a price-to-earnings-growth ratio of 1.34 and a beta of 1.10. The firm’s fifty day moving average price is $88.81 and its 200-day moving average price is $82.63.

NRG Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were paid a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a yield of 1.75%. The ex-dividend date was Friday, November 1st. NRG Energy’s dividend payout ratio (DPR) is currently 40.95%.

Insider Activity

In related news, insider Rasesh M. Patel sold 102,603 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $80.35, for a total transaction of $8,244,151.05. Following the transaction, the insider now owns 163,680 shares of the company’s stock, valued at approximately $13,151,688. This trade represents a 38.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

NRG has been the subject of a number of analyst reports. Guggenheim raised their price target on NRG Energy from $77.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Wells Fargo & Company lifted their target price on NRG Energy from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Jefferies Financial Group started coverage on shares of NRG Energy in a report on Friday, September 13th. They issued a “hold” rating and a $82.00 price target on the stock. StockNews.com cut shares of NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Finally, BMO Capital Markets increased their target price on shares of NRG Energy from $90.00 to $94.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, NRG Energy has a consensus rating of “Hold” and an average target price of $97.43.

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.