Todd Asset Management LLC Lowers Stock Holdings in NRG Energy, Inc. (NYSE:NRG)

Todd Asset Management LLC cut its holdings in shares of NRG Energy, Inc. (NYSE:NRG) by 7.6% during the fourth quarter, Holdings Channel reports. The firm owned 251,290 shares of the utilities provider’s stock after selling 20,787 shares during the quarter. Todd Asset Management LLC’s holdings in NRG Energy were worth $22,671,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Everence Capital Management Inc. acquired a new stake in NRG Energy during the 4th quarter worth approximately $549,000. Meyer Handelman Co. raised its stake in shares of NRG Energy by 43.8% in the fourth quarter. Meyer Handelman Co. now owns 78,982 shares of the utilities provider’s stock valued at $7,126,000 after acquiring an additional 24,062 shares in the last quarter. Luxor Capital Group LP boosted its holdings in NRG Energy by 47.8% in the third quarter. Luxor Capital Group LP now owns 520,591 shares of the utilities provider’s stock valued at $47,426,000 after purchasing an additional 168,267 shares during the period. Pine Valley Investments Ltd Liability Co grew its stake 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 worth $4,557,000 after purchasing an additional 10,031 shares in the last quarter. Finally, Bank of Hawaii increased its holdings in NRG Energy by 95.5% during the 3rd quarter. Bank of Hawaii now owns 15,685 shares of the utilities provider’s stock worth $1,429,000 after purchasing an additional 7,662 shares during the period. Institutional investors and hedge funds own 97.72% of the company’s stock.

Insider Transactions at NRG Energy

In other news, CFO Bruce Chung sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $97.63, for a total value of $1,952,600.00. Following the transaction, the chief financial officer now owns 69,454 shares of the company’s stock, valued at approximately $6,780,794.02. The trade was a 22.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Robert J. Gaudette sold 60,000 shares of the stock in a transaction 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 sale, the vice president now directly owns 64,448 shares of the company’s stock, valued at approximately $5,891,191.68. This represents a 48.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Morgan Stanley boosted their price objective on NRG Energy from $86.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. 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 report on Tuesday, November 19th. Wells Fargo & Company lifted their price objective on shares of NRG Energy from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Jefferies Financial Group raised NRG Energy from a “hold” rating to a “buy” rating and increased their target price for the company from $93.00 to $113.00 in a report on Tuesday, November 26th. Finally, Evercore ISI raised NRG Energy from an “in-line” rating to an “outperform” rating and lifted 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 issued a buy rating to the company. Based on data from MarketBeat.com, NRG Energy currently has an average rating of “Moderate Buy” and an average price target of $113.71.

NRG Energy Price Performance

Shares of NYSE:NRG opened at $103.39 on Tuesday. The company has a debt-to-equity ratio of 5.57, a current ratio of 1.17 and a quick ratio of 1.10. NRG Energy, Inc. has a 12 month low of $51.58 and a 12 month high of $115.38. The firm has a market capitalization of $20.94 billion, a P/E ratio of 25.98, a P/E/G ratio of 1.01 and a beta of 1.15. The company’s fifty day moving average price is $100.77 and its 200 day moving average price is $93.08.

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 paid a $0.44 dividend. 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 1.70%. This is a boost from NRG Energy’s previous quarterly dividend of $0.41. NRG Energy’s payout ratio is currently 44.22%.

About NRG Energy

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.