Cidel Asset Management Inc. Reduces Stock Holdings in NRG Energy, Inc. (NYSE:NRG)

Cidel Asset Management Inc. decreased its stake in NRG Energy, Inc. (NYSE:NRG) by 5.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,411 shares of the utilities provider’s stock after selling 132 shares during the period. Cidel Asset Management Inc.’s holdings in NRG Energy were worth $218,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Park Avenue Securities LLC grew its holdings in shares of NRG Energy by 2.8% during the third quarter. Park Avenue Securities LLC now owns 4,910 shares of the utilities provider’s stock worth $447,000 after purchasing an additional 134 shares during the last quarter. Brookstone Capital Management acquired a new position in NRG Energy during the third quarter worth approximately $211,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in NRG Energy in the third quarter valued at approximately $36,000. Gateway Investment Advisers LLC purchased a new position in shares of NRG Energy during the third quarter worth approximately $369,000. Finally, Inspire Investing LLC acquired a new position in shares of NRG Energy in the 3rd quarter valued at $2,762,000. 97.72% of the stock is owned by hedge funds and other institutional investors.

NRG Energy Stock Down 0.3 %

NRG stock opened at $102.96 on Monday. 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 company’s 50-day moving average price is $98.59 and its 200 day moving average price is $90.43. NRG Energy, Inc. has a 52 week low of $51.26 and a 52 week high of $115.38. The company has a market cap of $20.86 billion, a P/E ratio of 25.87, a P/E/G ratio of 1.22 and a beta of 1.15.

NRG Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.71%. This is an increase from NRG Energy’s previous quarterly dividend of $0.41. The ex-dividend date is Monday, February 3rd. NRG Energy’s payout ratio is presently 44.22%.

Analyst Ratings Changes

NRG has been the topic of several research reports. BMO Capital Markets raised their price objective on shares of NRG Energy from $94.00 to $100.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 19th. Citigroup raised their price target 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 raised 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 research report on Tuesday, January 21st. Jefferies Financial Group raised NRG Energy from a “hold” rating to a “buy” rating and boosted their target price for the company from $93.00 to $113.00 in a report on Tuesday, November 26th. Finally, Wells Fargo & Company increased their price target on NRG Energy from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $111.43.

Insider Transactions at NRG Energy

In other NRG Energy news, CFO Bruce Chung sold 20,000 shares of the firm’s stock in a transaction on 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. This trade represents a 22.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Robert J. Gaudette sold 60,000 shares of the company’s stock in a transaction 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 completion of the sale, the vice president now owns 64,448 shares in the company, valued at $5,891,191.68. This represents 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.