Harvest Fund Management Co. Ltd Cuts Stake in NRG Energy, Inc. (NYSE:NRG)

Harvest Fund Management Co. Ltd lowered its stake in shares of NRG Energy, Inc. (NYSE:NRG) by 1.1% in the fourth quarter, Holdings Channel reports. The firm owned 27,929 shares of the utilities provider’s stock after selling 316 shares during the period. Harvest Fund Management Co. Ltd’s holdings in NRG Energy were worth $2,519,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. M&T Bank Corp increased its stake in shares of NRG Energy by 0.3% during the third quarter. M&T Bank Corp now owns 38,213 shares of the utilities provider’s stock worth $3,481,000 after purchasing an additional 113 shares in the last quarter. McIlrath & Eck LLC grew its stake in NRG Energy by 4.5% during the 3rd quarter. McIlrath & Eck LLC now owns 2,630 shares of the utilities provider’s stock valued at $240,000 after acquiring an additional 113 shares in the last quarter. Schechter Investment Advisors LLC grew its stake in NRG Energy by 0.8% during the 4th quarter. Schechter Investment Advisors LLC now owns 15,916 shares of the utilities provider’s stock valued at $1,436,000 after acquiring an additional 120 shares in the last quarter. Mather Group LLC. grew its stake in NRG Energy by 18.4% during 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 in the last quarter. Finally, Grove Bank & Trust grew its stake in NRG Energy by 29.7% during the 4th quarter. Grove Bank & Trust now owns 564 shares of the utilities provider’s stock valued at $51,000 after acquiring an additional 129 shares in the last quarter. Hedge funds and other institutional investors own 97.72% of the company’s stock.

NRG Energy Stock Performance

NYSE:NRG opened at $98.30 on Thursday. The company has a debt-to-equity ratio of 5.57, a current ratio of 1.17 and a quick ratio of 1.10. The firm has a market capitalization of $20.02 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 1.01 and a beta of 1.13. The company’s 50-day moving average is $102.07 and its two-hundred day moving average is $94.72. NRG Energy, Inc. has a 1-year low of $65.11 and a 1-year high of $117.26.

NRG Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were given a dividend of $0.44 per share. The ex-dividend date was Monday, February 3rd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.79%. This is a boost from NRG Energy’s previous quarterly dividend of $0.41. NRG Energy’s dividend payout ratio (DPR) is presently 35.92%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NRG. Guggenheim upped their price objective 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. BMO Capital Markets upped their price objective on shares of NRG Energy from $100.00 to $115.00 and gave the company a “market perform” rating in a research note on Monday, March 3rd. Morgan Stanley upped their price objective on shares of NRG Energy from $86.00 to $99.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Evercore ISI raised shares of NRG Energy from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $74.00 to $126.00 in a research note on Tuesday, January 21st. Finally, StockNews.com lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, NRG Energy has a consensus rating of “Moderate Buy” and a consensus price target of $123.29.

Insider Buying and Selling

In related news, VP Robert J. Gaudette sold 60,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $91.41, for a total transaction of $5,484,600.00. Following the completion of the transaction, the vice president now 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 document filed with the SEC, which is accessible through this hyperlink. Also, CFO Bruce Chung sold 20,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 69,454 shares of the company’s stock, valued at $6,780,794.02. The trade was 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 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.