NEOS Investment Management LLC Purchases 2,484 Shares of NRG Energy, Inc. (NYSE:NRG)

NEOS Investment Management LLC grew its position in NRG Energy, Inc. (NYSE:NRG) by 28.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 11,125 shares of the utilities provider’s stock after buying an additional 2,484 shares during the period. NEOS Investment Management LLC’s holdings in NRG Energy were worth $1,004,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of NRG. Geode Capital Management LLC lifted its position in NRG Energy by 6.2% in the third quarter. Geode Capital Management LLC now owns 5,399,098 shares of the utilities provider’s stock worth $494,225,000 after purchasing an additional 313,478 shares during the period. Banco Santander S.A. boosted its position in shares of NRG Energy by 0.3% during the 4th quarter. Banco Santander S.A. now owns 2,828,000 shares of the utilities provider’s stock valued at $255,142,000 after acquiring an additional 7,500 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in NRG Energy by 7.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,663,441 shares of the utilities provider’s stock valued at $242,639,000 after acquiring an additional 182,481 shares during the period. Appaloosa LP raised its position in NRG Energy by 81.5% in the fourth quarter. Appaloosa LP now owns 1,815,000 shares of the utilities provider’s stock worth $163,749,000 after purchasing an additional 815,180 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in NRG Energy by 1,010.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,557,350 shares of the utilities provider’s stock worth $140,504,000 after purchasing an additional 1,417,057 shares during the period. Institutional investors and hedge funds own 97.72% of the company’s stock.

Insider Buying and Selling

In other news, VP Robert J. Gaudette sold 60,000 shares of NRG Energy 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 completion of the sale, the vice president now directly owns 64,448 shares of the company’s stock, valued at approximately $5,891,191.68. This trade represents a 48.21 % decrease in their position. The transaction was disclosed in a filing 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 value 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. This trade represents a 22.36 % decrease in their position. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by corporate insiders.

NRG Energy Stock Down 0.7 %

Shares of NYSE NRG opened at $95.05 on Friday. 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 has a market cap of $19.36 billion, a price-to-earnings ratio of 23.88, a price-to-earnings-growth ratio of 1.01 and a beta of 1.13. NRG Energy, Inc. has a 12-month low of $65.11 and a 12-month high of $117.26. The firm’s 50-day simple moving average is $101.75 and its 200 day simple moving average is $95.69.

NRG Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were paid a dividend of $0.44 per share. This is a boost from NRG Energy’s previous quarterly dividend of $0.41. This represents a $1.76 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Monday, February 3rd. NRG Energy’s dividend payout ratio is 35.92%.

Wall Street Analysts Forecast Growth

NRG has been the topic of several analyst reports. Wells Fargo & Company upped their price objective on NRG Energy from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. StockNews.com lowered NRG Energy from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Guggenheim boosted their target price on shares of NRG Energy from $134.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Morgan Stanley increased their target price on shares of NRG Energy from $86.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 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 company from $74.00 to $126.00 in a research report on Tuesday, January 21st. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $123.29.

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.