NRG Energy, Inc. (NYSE:NRG) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its stake in shares of NRG Energy, Inc. (NYSE:NRG) by 4.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,858 shares of the utilities provider’s stock after selling 2,242 shares during the period. Retirement Systems of Alabama’s holdings in NRG Energy were worth $3,957,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Guidance Capital Inc. raised its position in shares of NRG Energy by 8.0% during the 4th quarter. Guidance Capital Inc. now owns 14,114 shares of the utilities provider’s stock worth $1,273,000 after purchasing an additional 1,043 shares during the last quarter. Mather Group LLC. raised its holdings in NRG Energy by 18.4% in the 4th quarter. Mather Group LLC. now owns 803 shares of the utilities provider’s stock valued at $72,000 after acquiring an additional 125 shares during the last quarter. abrdn plc raised its holdings in NRG Energy by 11.2% in the 4th quarter. abrdn plc now owns 102,022 shares of the utilities provider’s stock valued at $9,282,000 after acquiring an additional 10,242 shares during the last quarter. Financial Life Planners acquired a new position in NRG Energy in the 4th quarter valued at $191,000. Finally, Princeton Global Asset Management LLC raised its holdings in NRG Energy by 414.9% in the 4th quarter. Princeton Global Asset Management LLC now owns 484 shares of the utilities provider’s stock valued at $44,000 after acquiring an additional 390 shares during the last quarter. 97.72% of the stock is currently owned by institutional investors and hedge funds.

NRG Energy Stock Up 2.2 %

Shares of NYSE NRG opened at $105.24 on Tuesday. NRG Energy, Inc. has a 52-week low of $51.26 and a 52-week high of $115.38. The firm has a fifty day moving average of $98.70 and a 200-day moving average of $90.66. The stock has a market capitalization of $21.32 billion, a PE ratio of 26.44, a P/E/G ratio of 1.22 and a beta of 1.15. The company has a quick ratio of 1.10, a current ratio of 1.17 and a debt-to-equity ratio of 5.57.

NRG Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 3rd will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.67%. This is a boost from NRG Energy’s previous quarterly dividend of $0.41. The ex-dividend date is Monday, February 3rd. NRG Energy’s dividend payout ratio is 44.22%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NRG. Wells Fargo & Company boosted their price target on NRG Energy from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Evercore ISI upgraded 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 report on Tuesday, January 21st. Jefferies Financial Group upgraded NRG Energy from a “hold” rating to a “buy” rating and boosted their price target for the company from $93.00 to $113.00 in a report on Tuesday, November 26th. BMO Capital Markets boosted 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 note on Tuesday, November 19th. Finally, Citigroup boosted their price objective on shares of NRG Energy from $84.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.43.

Insider Buying and Selling

In related news, 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 completion of the sale, the chief financial officer now directly owns 69,454 shares of the company’s stock, valued at approximately $6,780,794.02. This represents a 22.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert J. Gaudette sold 60,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $91.41, for a total transaction 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 trade represents a 48.21 % 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 Company 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.