Farrow Financial Inc. Reduces Holdings in NRG Energy, Inc. (NYSE:NRG)

Farrow Financial Inc. decreased its position in NRG Energy, Inc. (NYSE:NRG) by 6.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 30,109 shares of the utilities provider’s stock after selling 2,243 shares during the period. NRG Energy accounts for 1.8% of Farrow Financial Inc.’s holdings, making the stock its 17th largest position. Farrow Financial Inc.’s holdings in NRG Energy were worth $2,775,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in shares of NRG Energy in the 3rd quarter valued at approximately $26,000. Covestor Ltd grew its stake in shares of 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 period. SBI Securities Co. Ltd. purchased a new stake in shares of NRG Energy in the 4th quarter valued at approximately $32,000. Harbor Capital Advisors Inc. purchased a new stake in shares of NRG Energy in the 3rd quarter valued at approximately $35,000. Finally, UMB Bank n.a. grew its stake in shares of NRG Energy by 100.4% in the 4th quarter. UMB Bank n.a. now owns 455 shares of the utilities provider’s stock valued at $41,000 after buying an additional 228 shares during the period. Hedge funds and other institutional investors own 97.72% of the company’s stock.

Insiders Place Their Bets

In other news, VP Robert J. Gaudette sold 60,000 shares of the firm’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 sale, the vice president now directly owns 64,448 shares in the company, valued at approximately $5,891,191.68. This trade represents a 48.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Bruce Chung sold 20,000 shares of the firm’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 completion of the sale, the chief financial officer now 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. 0.86% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on NRG shares. Evercore ISI raised shares of NRG Energy from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $74.00 to $126.00 in a research report on Tuesday, January 21st. Jefferies Financial Group raised shares of 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. StockNews.com cut shares of NRG Energy from a “buy” rating to a “hold” rating in a research report on Saturday. BMO Capital Markets increased their price objective on shares of NRG Energy from $100.00 to $115.00 and gave the stock a “market perform” rating in a research report on Monday, March 3rd. Finally, Wells Fargo & Company increased their price objective on shares of NRG Energy from $140.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $123.29.

NRG Energy Price Performance

NRG Energy stock opened at $88.02 on Friday. The firm has a market cap of $17.43 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 1.01 and a beta of 1.13. NRG Energy, Inc. has a 52-week low of $59.50 and a 52-week high of $117.26. 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 company’s 50 day moving average is $102.41 and its two-hundred day moving average is $94.18.

NRG Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were issued a dividend of $0.44 per share. The ex-dividend date was Monday, February 3rd. This is a positive change from NRG Energy’s previous quarterly dividend of $0.41. This represents a $1.76 dividend on an annualized basis and a yield of 2.00%. NRG Energy’s dividend payout ratio is 35.92%.

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.