Harvest Fund Management Co. Ltd Trims Stake in NRG Energy, Inc. (NYSE:NRG)

Harvest Fund Management Co. Ltd lessened its holdings in NRG Energy, Inc. (NYSE:NRG) by 1.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 27,929 shares of the utilities provider’s stock after selling 316 shares during the period. Harvest Fund Management Co. Ltd’s holdings in NRG Energy were worth $2,519,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NRG. Assenagon Asset Management S.A. lifted 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 during the last quarter. Boston Partners bought a new stake in NRG Energy in the fourth quarter worth about $94,346,000. Appaloosa LP lifted its stake in NRG Energy by 81.5% in the fourth quarter. Appaloosa LP now owns 1,815,000 shares of the utilities provider’s stock worth $163,749,000 after purchasing an additional 815,180 shares during the last quarter. Raymond James Financial Inc. bought a new stake in NRG Energy in the fourth quarter worth about $61,679,000. Finally, Bridgewater Associates LP lifted 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 during the last quarter. Institutional investors own 97.72% of the company’s stock.

Wall Street Analysts Forecast Growth

NRG has been the subject of several analyst reports. Guggenheim raised their price objective on shares of NRG Energy from $134.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Morgan Stanley raised their target price on shares of NRG Energy from $86.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. Wells Fargo & Company raised 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. BMO Capital Markets raised their target price on shares of NRG Energy from $100.00 to $115.00 and gave the stock a “market perform” rating in a research report on Monday, March 3rd. Finally, Evercore ISI raised shares of NRG Energy from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $74.00 to $126.00 in a research report on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $123.29.

NRG Energy Stock Performance

Shares of NRG stock opened at $98.30 on Thursday. The firm has a market cap of $20.02 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 1.01 and a beta of 1.13. The company’s 50 day moving average is $102.07 and its 200 day moving average is $94.72. The company has a quick ratio of 1.10, a current ratio of 1.17 and a debt-to-equity ratio of 5.57. NRG Energy, Inc. has a 52-week low of $65.11 and a 52-week high of $117.26.

NRG Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were issued a $0.44 dividend. This is a boost from NRG Energy’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.76 dividend on an annualized basis and a yield of 1.79%. NRG Energy’s payout ratio is presently 35.92%.

Insider Buying and Selling at NRG Energy

In other NRG Energy news, VP Robert J. Gaudette sold 60,000 shares of NRG Energy 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Bruce Chung sold 20,000 shares of NRG Energy stock in a transaction on Monday, January 13th. The shares were 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 directly owns 69,454 shares of the company’s stock, valued at $6,780,794.02. The trade was a 22.36 % decrease in their position. The disclosure for this sale can be found here. 0.86% of the stock is owned by corporate insiders.

NRG Energy Company 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.