SVB Wealth LLC Buys Shares of 7,283 NRG Energy, Inc. (NYSE:NRG)

SVB Wealth LLC bought a new stake in NRG Energy, Inc. (NYSE:NRG) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 7,283 shares of the utilities provider’s stock, valued at approximately $657,000.

Other hedge funds have also made changes to their positions in the company. Everence Capital Management Inc. purchased a new position in NRG Energy during the fourth quarter valued at approximately $549,000. Meyer Handelman Co. boosted its stake in shares of NRG Energy by 43.8% during the 4th quarter. Meyer Handelman Co. now owns 78,982 shares of the utilities provider’s stock valued at $7,126,000 after buying an additional 24,062 shares during the period. Luxor Capital Group LP grew its holdings in shares of NRG Energy by 47.8% during the 3rd quarter. Luxor Capital Group LP now owns 520,591 shares of the utilities provider’s stock valued at $47,426,000 after acquiring an additional 168,267 shares in the last quarter. Pine Valley Investments Ltd Liability Co increased its stake in shares of NRG Energy by 25.1% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 50,027 shares of the utilities provider’s stock worth $4,557,000 after acquiring an additional 10,031 shares during the last quarter. Finally, Bank of Hawaii raised its holdings in shares of NRG Energy by 95.5% during the third quarter. Bank of Hawaii now owns 15,685 shares of the utilities provider’s stock worth $1,429,000 after acquiring an additional 7,662 shares in the last quarter. 97.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Bruce Chung sold 20,000 shares of the business’s stock in a transaction dated 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 owns 69,454 shares of the company’s stock, valued at approximately $6,780,794.02. The trade was a 22.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert J. Gaudette sold 60,000 shares of the 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 approximately $5,891,191.68. The trade was a 48.21 % decrease in their position. The disclosure for this sale can be found here. 0.86% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on NRG shares. StockNews.com upgraded NRG Energy from a “hold” rating to a “buy” rating in a research note on Friday. Evercore ISI upgraded NRG Energy from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $74.00 to $126.00 in a report on Tuesday, January 21st. BMO Capital Markets raised their price objective on shares of NRG Energy from $100.00 to $115.00 and gave the company a “market perform” rating in a research report on Monday. Wells Fargo & Company boosted their target price on shares of NRG Energy from $140.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Finally, Jefferies Financial Group upgraded shares of NRG Energy from a “hold” rating to a “buy” rating and raised their price target for the company from $93.00 to $113.00 in a report on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, NRG Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.29.

NRG Energy Stock Down 5.3 %

NRG opened at $100.13 on Tuesday. The firm has a market cap of $19.83 billion, a P/E ratio of 25.16, a price-to-earnings-growth ratio of 1.01 and a beta of 1.15. 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 business has a 50 day moving average price of $102.26 and a 200 day moving average price of $93.92. NRG Energy, Inc. has a twelve month low of $55.96 and a twelve month high of $117.26.

NRG Energy Increases Dividend

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

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.