Edgestream Partners L.P. Makes New Investment in NRG Energy, Inc. (NYSE:NRG)

Edgestream Partners L.P. purchased a new position in shares of NRG Energy, Inc. (NYSE:NRG) in the fourth quarter, HoldingsChannel reports. The fund purchased 14,538 shares of the utilities provider’s stock, valued at approximately $1,312,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in NRG Energy by 6.2% during the 3rd quarter. Geode Capital Management LLC now owns 5,399,098 shares of the utilities provider’s stock worth $494,225,000 after acquiring an additional 313,478 shares during the period. Banco Santander S.A. lifted its position in NRG Energy by 0.9% during the 3rd quarter. Banco Santander S.A. now owns 2,820,500 shares of the utilities provider’s stock worth $256,948,000 after acquiring an additional 24,834 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in NRG Energy by 7.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,663,441 shares of the utilities provider’s stock worth $242,639,000 after acquiring an additional 182,481 shares during the period. Assenagon Asset Management S.A. lifted its position in NRG Energy by 1,010.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,557,350 shares of the utilities provider’s stock worth $140,504,000 after acquiring an additional 1,417,057 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in NRG Energy by 52.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,330,706 shares of the utilities provider’s stock worth $121,227,000 after acquiring an additional 456,573 shares during the period. Institutional investors and hedge funds own 97.72% of the company’s stock.

NRG Energy Price Performance

Shares of NRG Energy stock opened at $84.58 on Tuesday. 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, Inc. has a twelve month low of $59.50 and a twelve month high of $117.26. The business has a 50-day moving average price of $102.25 and a 200 day moving average price of $94.28. The firm has a market cap of $16.75 billion, a PE ratio of 21.25, a P/E/G ratio of 1.01 and a beta of 1.13.

NRG Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.08%. The ex-dividend date was Monday, February 3rd. This is a positive change from NRG Energy’s previous quarterly dividend of $0.41. NRG Energy’s payout ratio is currently 35.92%.

Insider Activity at NRG Energy

In other news, CFO Bruce Chung sold 20,000 shares of the company’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 completion of the sale, the chief financial officer now directly owns 69,454 shares in the company, valued at $6,780,794.02. This represents a 22.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Robert J. Gaudette sold 60,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 64,448 shares in the company, valued at $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. 0.86% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NRG shares. Evercore ISI raised NRG Energy from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $74.00 to $126.00 in a report on Tuesday, January 21st. BMO Capital Markets boosted their price objective on NRG Energy from $100.00 to $115.00 and gave the company a “market perform” rating in a report on Monday, March 3rd. Jefferies Financial Group raised NRG Energy from a “hold” rating to a “buy” rating and boosted their price objective for the company from $93.00 to $113.00 in a report on Tuesday, November 26th. Guggenheim boosted their price objective on NRG Energy from $134.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, Wells Fargo & Company boosted their price objective on NRG Energy from $140.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $123.29.

NRG Energy 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.