Geode Capital Management LLC Trims Stock Position in NRG Energy, Inc. (NYSE:NRG)

Geode Capital Management LLC decreased its position in NRG Energy, Inc. (NYSE:NRG) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,346,923 shares of the utilities provider’s stock after selling 52,175 shares during the period. Geode Capital Management LLC owned 2.64% of NRG Energy worth $481,229,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Everence Capital Management Inc. acquired a new stake in NRG Energy during the fourth quarter worth $549,000. Meyer Handelman Co. increased its position 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 worth $7,126,000 after purchasing an additional 24,062 shares during the last quarter. Luxor Capital Group LP raised its holdings in NRG Energy by 47.8% in the 3rd quarter. Luxor Capital Group LP now owns 520,591 shares of the utilities provider’s stock valued at $47,426,000 after buying an additional 168,267 shares during the period. Pine Valley Investments Ltd Liability Co lifted its position in 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 valued at $4,557,000 after buying an additional 10,031 shares during the last quarter. Finally, CWA Asset Management Group LLC purchased a new position in NRG Energy during the fourth quarter worth about $1,340,000. Institutional investors and hedge funds own 97.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NRG. Evercore ISI raised shares of NRG Energy from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $74.00 to $126.00 in a research note on Tuesday, January 21st. StockNews.com cut NRG Energy from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Wells Fargo & Company lifted their price objective on NRG Energy from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. BMO Capital Markets increased their target price on NRG Energy from $100.00 to $115.00 and gave the stock a “market perform” rating in a research note on Monday, March 3rd. Finally, Guggenheim lifted their target price on NRG Energy from $134.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $123.29.

NRG Energy Price Performance

NRG stock opened at $92.78 on Friday. The business’s 50-day moving average is $100.81 and its two-hundred day moving average is $96.06. The company has a debt-to-equity ratio of 5.57, a current ratio of 1.17 and a quick ratio of 1.10. The firm has a market capitalization of $18.90 billion, a P/E ratio of 23.31, a P/E/G ratio of 1.01 and a beta of 1.13. NRG Energy, Inc. has a 1 year low of $65.11 and a 1 year high of $117.26.

NRG Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were paid a $0.44 dividend. The ex-dividend date was Monday, February 3rd. This represents a $1.76 dividend on an annualized basis and a yield of 1.90%. This is an increase from NRG Energy’s previous quarterly dividend of $0.41. NRG Energy’s payout ratio is currently 35.92%.

Insiders Place Their Bets

In other news, CFO Bruce Chung sold 20,000 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now directly owns 69,454 shares in the company, valued at approximately $6,780,794.02. This trade represents a 22.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.86% of the stock is currently owned by company insiders.

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.