NRG Energy (NYSE:NRG) Hits New 1-Year High – Here’s Why

NRG Energy, Inc. (NYSE:NRG) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $103.55 and last traded at $102.45, with a volume of 97461 shares changing hands. The stock had previously closed at $99.79.

Analyst Upgrades and Downgrades

NRG has been the topic of a number of recent research reports. Jefferies Financial Group upgraded shares of 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 research note on Tuesday, November 26th. Guggenheim increased their price objective on shares of NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. BMO Capital Markets lifted 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 increased their target price on NRG Energy from $84.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company lifted 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. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $102.71.

NRG Energy Price Performance

The firm has a market capitalization of $21.02 billion, a PE ratio of 26.08, a P/E/G ratio of 1.29 and a beta of 1.15. 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 has a fifty day moving average price of $95.05 and a two-hundred day moving average price of $86.79.

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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the chief financial officer now directly owns 69,454 shares in the company, valued at $6,780,794.02. The trade was a 22.36 % 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.

Institutional Trading of NRG Energy

Hedge funds have recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC purchased a new stake in shares of NRG Energy during the third quarter worth approximately $26,000. Covestor Ltd grew its position in NRG Energy by 74.7% in the 3rd quarter. Covestor Ltd now owns 325 shares of the utilities provider’s stock valued at $30,000 after buying an additional 139 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in NRG Energy in the 3rd quarter valued at $35,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of NRG Energy in the 3rd quarter worth $36,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of NRG Energy in the 3rd quarter worth $43,000. 97.72% of the stock is owned by institutional investors and hedge funds.

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.