Diametric Capital LP Sells 1,666 Shares of NRG Energy, Inc. (NYSE:NRG)

Diametric Capital LP lessened its stake in shares of NRG Energy, Inc. (NYSE:NRG) by 32.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,468 shares of the utilities provider’s stock after selling 1,666 shares during the period. Diametric Capital LP’s holdings in NRG Energy were worth $313,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Townsquare Capital LLC bought a new stake in NRG Energy during the third quarter worth approximately $242,000. Public Sector Pension Investment Board boosted its holdings in shares of NRG Energy by 2.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 36,165 shares of the utilities provider’s stock worth $3,295,000 after buying an additional 800 shares during the period. Martingale Asset Management L P acquired a new position in NRG Energy in the 3rd quarter valued at $926,000. Rockefeller Capital Management L.P. raised its holdings in NRG Energy by 275.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 40,404 shares of the utilities provider’s stock worth $3,676,000 after acquiring an additional 29,636 shares during the period. Finally, Captrust Financial Advisors lifted its position in NRG Energy by 81.4% during the 3rd quarter. Captrust Financial Advisors now owns 8,106 shares of the utilities provider’s stock worth $738,000 after acquiring an additional 3,637 shares during the last quarter. Institutional investors and hedge funds own 97.72% of the company’s stock.

Insiders Place Their Bets

In related news, VP Robert J. Gaudette sold 60,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 64,448 shares in the company, valued at $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 available through the SEC website. Also, CFO Bruce Chung sold 20,000 shares of the business’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 completion of the sale, the chief financial officer now directly owns 69,454 shares in the company, valued at approximately $6,780,794.02. This represents a 22.36 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company’s stock.

Analysts Set New Price Targets

NRG has been the topic of a number of recent analyst reports. StockNews.com lowered NRG Energy from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Morgan Stanley lifted their price target on NRG Energy from $86.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. Evercore ISI raised NRG Energy from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $74.00 to $126.00 in a research report on Tuesday, January 21st. Wells Fargo & Company boosted their target price on shares of NRG Energy from $140.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Finally, BMO Capital Markets increased their price target on shares of NRG Energy from $100.00 to $115.00 and gave the company a “market perform” rating in a report on Monday, March 3rd. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $123.29.

NRG Energy Trading Up 3.1 %

Shares of NRG Energy stock opened at $98.45 on Wednesday. NRG Energy, Inc. has a 52-week low of $65.11 and a 52-week high of $117.26. The firm has a market capitalization of $20.05 billion, a PE ratio of 24.74, a price-to-earnings-growth ratio of 1.01 and a beta of 1.13. 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 company’s fifty day moving average price is $101.31 and its two-hundred day moving average price is $96.04.

NRG Energy Increases Dividend

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

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.