NRG Energy, Inc. (NYSE:NRG) Shares Bought by Convergence Investment Partners LLC

Convergence Investment Partners LLC grew its position in NRG Energy, Inc. (NYSE:NRG) by 40.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 32,555 shares of the utilities provider’s stock after acquiring an additional 9,424 shares during the period. Convergence Investment Partners LLC’s holdings in NRG Energy were worth $2,937,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Kentucky Retirement Systems Insurance Trust Fund grew its position in NRG Energy by 87.4% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 11,453 shares of the utilities provider’s stock valued at $1,033,000 after acquiring an additional 5,343 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of NRG Energy in the fourth quarter valued at approximately $202,000. Atria Wealth Solutions Inc. grew its holdings in shares of NRG Energy by 32.5% in the fourth quarter. Atria Wealth Solutions Inc. now owns 12,574 shares of the utilities provider’s stock valued at $1,134,000 after purchasing an additional 3,083 shares in the last quarter. Venturi Wealth Management LLC increased its stake in NRG Energy by 31.6% during the 4th quarter. Venturi Wealth Management LLC now owns 729 shares of the utilities provider’s stock worth $66,000 after buying an additional 175 shares during the period. Finally, Truist Financial Corp boosted its position in NRG Energy by 83.7% in the 4th quarter. Truist Financial Corp now owns 47,383 shares of the utilities provider’s stock valued at $4,275,000 after buying an additional 21,596 shares during the period. Hedge funds and other institutional investors own 97.72% of the company’s stock.

NRG Energy Stock Up 4.2 %

NRG stock opened at $112.16 on Wednesday. The company’s 50 day moving average is $99.71 and its two-hundred day moving average is $92.07. NRG Energy, Inc. has a twelve month low of $51.42 and a twelve month high of $115.38. 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 stock has a market cap of $22.72 billion, a P/E ratio of 28.18, a PEG ratio of 1.27 and a beta of 1.15.

NRG Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were given a $0.44 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost from NRG Energy’s previous quarterly dividend of $0.41. This represents a $1.76 dividend on an annualized basis and a yield of 1.57%. NRG Energy’s payout ratio is 44.22%.

Insiders Place Their Bets

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 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Citigroup upped their price objective on NRG Energy from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Jefferies Financial Group raised NRG Energy from a “hold” rating to a “buy” rating and increased their price target for the company from $93.00 to $113.00 in a research report on Tuesday, November 26th. Wells Fargo & Company boosted their price objective on NRG Energy from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. BMO Capital Markets raised their target price on shares of NRG Energy from $94.00 to $100.00 and gave the company a “market perform” rating in a report on Tuesday, November 19th. Finally, Evercore ISI upgraded shares of NRG Energy from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $74.00 to $126.00 in a report on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $111.43.

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.