Myriad Asset Management US LP Acquires New Position in NRG Energy, Inc. (NYSE:NRG)

Myriad Asset Management US LP bought a new position in shares of NRG Energy, Inc. (NYSE:NRG) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 11,416 shares of the utilities provider’s stock, valued at approximately $1,030,000.

Several other large investors have also recently modified their holdings of NRG. Everence Capital Management Inc. bought a new stake in NRG Energy during the 4th quarter valued at $549,000. Meyer Handelman Co. raised its stake 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 valued at $7,126,000 after purchasing an additional 24,062 shares during the period. Luxor Capital Group LP boosted its stake 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 worth $47,426,000 after purchasing an additional 168,267 shares during the period. Pine Valley Investments Ltd Liability Co grew its holdings in NRG Energy by 25.1% during the 3rd 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 in the last quarter. Finally, Bank of Hawaii increased its position in shares of NRG Energy by 95.5% during the third quarter. Bank of Hawaii now owns 15,685 shares of the utilities provider’s stock valued at $1,429,000 after buying an additional 7,662 shares during the period. Hedge funds and other institutional investors own 97.72% of the company’s stock.

Analyst Upgrades and Downgrades

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

NRG Energy Price Performance

Shares of NRG Energy stock opened at $107.64 on Friday. The business’s 50-day moving average price is $99.11 and its 200-day moving average price is $91.30. The firm has a market capitalization of $21.80 billion, a PE ratio of 27.05, a price-to-earnings-growth ratio of 1.22 and a beta of 1.15. NRG Energy, Inc. has a 12 month low of $51.42 and a 12 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.

NRG Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.64%. This is a positive change from NRG Energy’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Monday, February 3rd. NRG Energy’s payout ratio is presently 44.22%.

Insider Activity

In other news, VP Robert J. Gaudette sold 60,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now owns 64,448 shares in the company, valued at approximately $5,891,191.68. This trade represents a 48.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 transaction of $1,952,600.00. Following the sale, the chief financial officer now owns 69,454 shares of the company’s stock, valued at $6,780,794.02. This represents a 22.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.86% of the stock is owned by corporate 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.