C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Takes $202,000 Position in NRG Energy, Inc. (NYSE:NRG)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of NRG Energy, Inc. (NYSE:NRG) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,235 shares of the utilities provider’s stock, valued at approximately $202,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of NRG. Assenagon Asset Management S.A. grew its stake in NRG Energy by 1,010.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,557,350 shares of the utilities provider’s stock worth $140,504,000 after purchasing an additional 1,417,057 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in NRG Energy by 32,962.3% in the third quarter. Los Angeles Capital Management LLC now owns 1,052,705 shares of the utilities provider’s stock worth $95,901,000 after purchasing an additional 1,049,521 shares in the last quarter. Bridgewater Associates LP grew its stake in NRG Energy by 352.9% in the third quarter. Bridgewater Associates LP now owns 804,801 shares of the utilities provider’s stock worth $73,317,000 after purchasing an additional 627,121 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in NRG Energy by 52.2% in the third 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 in the last quarter. Finally, Assetmark Inc. grew its stake in NRG Energy by 109.2% in the third quarter. Assetmark Inc. now owns 746,994 shares of the utilities provider’s stock worth $68,051,000 after purchasing an additional 389,997 shares in the last quarter. Institutional investors own 97.72% of the company’s stock.

Insider Activity

In related news, VP Robert J. Gaudette sold 60,000 shares of the company’s stock in a transaction on 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 directly owns 64,448 shares of the company’s stock, valued at $5,891,191.68. This represents a 48.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Bruce Chung sold 20,000 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $97.63, for a total value of $1,952,600.00. Following the sale, the chief financial officer now directly owns 69,454 shares in the company, valued at $6,780,794.02. This represents a 22.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.86% of the company’s stock.

NRG Energy Stock Performance

Shares of NRG opened at $107.64 on Friday. NRG Energy, Inc. has a 12 month low of $51.42 and a 12 month high of $115.38. The stock has a fifty day moving average price of $99.11 and a 200-day moving average price of $91.30. The company has a current ratio of 1.17, a quick ratio of 1.10 and a debt-to-equity ratio of 5.57. The firm has a market cap of $21.80 billion, a PE ratio of 27.05, a P/E/G ratio of 1.22 and a beta of 1.15.

NRG Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Monday, February 3rd. This is a positive change from NRG Energy’s previous quarterly dividend of $0.41. NRG Energy’s dividend payout ratio is currently 44.22%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on NRG shares. Wells Fargo & Company increased their price objective on NRG Energy from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Jefferies Financial Group upgraded NRG Energy from a “hold” rating to a “buy” rating and upped their target price for the stock from $93.00 to $113.00 in a report on Tuesday, November 26th. Citigroup upped their target price on NRG Energy from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Evercore ISI upgraded NRG Energy from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $74.00 to $126.00 in a report on Tuesday, January 21st. Finally, BMO Capital Markets upped 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 company’s stock. According to data from MarketBeat.com, NRG Energy has an average rating of “Moderate Buy” and an average target price of $111.43.

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.