Cidel Asset Management Inc. Lowers Stock Position in NRG Energy, Inc. (NYSE:NRG)

Cidel Asset Management Inc. reduced its position in NRG Energy, Inc. (NYSE:NRG) by 5.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,411 shares of the utilities provider’s stock after selling 132 shares during the quarter. Cidel Asset Management Inc.’s holdings in NRG Energy were worth $218,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NatWest Group plc lifted its holdings in NRG Energy by 49.8% in the fourth quarter. NatWest Group plc now owns 118,657 shares of the utilities provider’s stock worth $10,705,000 after acquiring an additional 39,455 shares during the last quarter. Measured Wealth Private Client Group LLC lifted its holdings in shares of NRG Energy by 49.2% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 7,722 shares of the utilities provider’s stock worth $697,000 after purchasing an additional 2,548 shares during the last quarter. Hedeker Wealth LLC boosted its position in NRG Energy by 0.3% during the 4th quarter. Hedeker Wealth LLC now owns 63,532 shares of the utilities provider’s stock valued at $5,732,000 after purchasing an additional 219 shares during the period. Centennial Wealth Advisory LLC grew its stake in NRG Energy by 14.5% during the 4th quarter. Centennial Wealth Advisory LLC now owns 5,004 shares of the utilities provider’s stock worth $452,000 after buying an additional 635 shares during the last quarter. Finally, Robertson Stephens Wealth Management LLC bought a new stake in NRG Energy in the fourth quarter valued at $309,000. Institutional investors and hedge funds own 97.72% of the company’s stock.

Insider Buying and Selling

In other news, CFO Bruce Chung sold 20,000 shares of the company’s stock in a transaction on Monday, January 13th. The stock was 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 $6,780,794.02. This represents a 22.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Robert J. Gaudette sold 60,000 shares of NRG Energy stock in a transaction dated 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 transaction, the vice president now directly owns 64,448 shares in the company, valued at $5,891,191.68. This represents a 48.21 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.86% of the company’s stock.

NRG Energy Trading Down 0.3 %

Shares of NRG stock opened at $102.96 on Monday. The stock has a 50-day simple moving average of $98.59 and a 200 day simple moving average of $90.43. The stock has a market capitalization of $20.86 billion, a P/E ratio of 25.87, a P/E/G ratio of 1.22 and a beta of 1.15. NRG Energy, Inc. has a fifty-two week low of $51.26 and a fifty-two week high of $115.38. 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 disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd will be paid a $0.44 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $1.76 annualized dividend and a dividend yield of 1.71%. This is a boost from NRG Energy’s previous quarterly dividend of $0.41. NRG Energy’s payout ratio is currently 44.22%.

Analyst Upgrades and Downgrades

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

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.