Meyer Handelman Co. Increases Stock Position in NRG Energy, Inc. (NYSE:NRG)

Meyer Handelman Co. boosted its holdings in NRG Energy, Inc. (NYSE:NRG) by 43.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,982 shares of the utilities provider’s stock after purchasing an additional 24,062 shares during the quarter. Meyer Handelman Co.’s holdings in NRG Energy were worth $7,126,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in shares of NRG Energy in the third quarter valued at about $26,000. Covestor Ltd increased 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 acquiring an additional 139 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in NRG Energy during the 3rd quarter valued at approximately $35,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in NRG Energy during the 3rd quarter worth approximately $36,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of NRG Energy in the 3rd quarter valued at approximately $43,000. Institutional investors and hedge funds own 97.72% of the company’s stock.

NRG Energy Stock Up 2.6 %

Shares of NYSE NRG opened at $99.69 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.17 and a debt-to-equity ratio of 5.57. The firm has a 50-day moving average price of $95.05 and a 200 day moving average price of $86.79. NRG Energy, Inc. has a 52 week low of $50.24 and a 52 week high of $103.14. The stock has a market capitalization of $20.19 billion, a price-to-earnings ratio of 25.05, a price-to-earnings-growth ratio of 1.29 and a beta of 1.15.

Insider Activity

In related news, VP Robert J. Gaudette sold 60,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 64,448 shares of the company’s stock, valued at $5,891,191.68. This trade represents a 48.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Bruce Chung sold 20,000 shares of the company’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 completion of the sale, the chief financial officer now directly owns 69,454 shares in the company, valued at $6,780,794.02. This trade represents a 22.36 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.86% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on NRG. Jefferies Financial Group upgraded NRG Energy from a “hold” rating to a “buy” rating and upped their price target for the stock from $93.00 to $113.00 in a research note on Tuesday, November 26th. Citigroup upped their price objective on shares of NRG Energy from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Guggenheim lifted their target price on shares of NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Wells Fargo & Company increased their price target on shares of NRG Energy from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Finally, BMO Capital Markets lifted their price objective on NRG Energy from $94.00 to $100.00 and gave the company a “market perform” rating in a report on Tuesday, November 19th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $102.71.

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.