NEOS Investment Management LLC Purchases 7,338 Shares of NRG Energy, Inc. $NRG

NEOS Investment Management LLC grew its position in shares of NRG Energy, Inc. (NYSE:NRG) by 42.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,533 shares of the utilities provider’s stock after buying an additional 7,338 shares during the period. NEOS Investment Management LLC’s holdings in NRG Energy were worth $3,973,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in NRG. Quent Capital LLC acquired a new position in NRG Energy during the third quarter valued at approximately $25,000. Bank of Jackson Hole Trust bought a new position in shares of NRG Energy in the 2nd quarter valued at $28,000. Atlantic Union Bankshares Corp boosted its holdings in shares of NRG Energy by 90.4% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 179 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 85 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new position in NRG Energy in the 2nd quarter worth about $32,000. Finally, Twin Peaks Wealth Advisors LLC bought a new position in NRG Energy in the second quarter valued at about $35,000. Institutional investors and hedge funds own 97.72% of the company’s stock.

Insider Buying and Selling at NRG Energy

In related news, VP Robert J. Gaudette sold 45,000 shares of NRG Energy stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $158.76, for a total value of $7,144,200.00. Following the transaction, the vice president directly owned 63,920 shares of the company’s stock, valued at $10,147,939.20. The trade was a 41.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Bruce Chung sold 12,383 shares of the stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $156.56, for a total value of $1,938,682.48. Following the completion of the transaction, the chief financial officer directly owned 79,147 shares of the company’s stock, valued at $12,391,254.32. This represents a 13.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 172,556 shares of company stock worth $27,550,446. 0.86% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NRG has been the topic of several analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of NRG Energy in a research note on Monday, December 29th. Jefferies Financial Group reduced their target price on NRG Energy from $198.00 to $181.00 and set a “buy” rating on the stock in a report on Tuesday, January 27th. Zacks Research downgraded shares of NRG Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Wells Fargo & Company boosted their price target on shares of NRG Energy from $202.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Finally, Morgan Stanley set a $153.00 price objective on NRG Energy in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $185.73.

NRG Energy Price Performance

Shares of NYSE:NRG opened at $175.14 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.05 and a debt-to-equity ratio of 8.45. NRG Energy, Inc. has a twelve month low of $79.57 and a twelve month high of $180.54. The firm has a market capitalization of $37.60 billion, a PE ratio of 26.18 and a beta of 1.27. The company has a 50-day moving average price of $156.50 and a two-hundred day moving average price of $160.16.

NRG Energy declared that its Board of Directors has initiated a stock repurchase program on Thursday, November 6th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the utilities provider to buy up to 9.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

NRG Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 2nd were given a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Monday, February 2nd. This is a positive change from NRG Energy’s previous quarterly dividend of $0.44. NRG Energy’s dividend payout ratio is presently 28.40%.

About NRG Energy

NRG Energy (NYSE: NRG) is a U.S.-based integrated power company headquartered in Houston, Texas. The company develops, owns and operates a diversified portfolio of power generation assets and participates in wholesale and retail energy markets. NRG supplies electricity to utilities, commercial and industrial customers, and retail consumers, while also providing energy-related products and services designed to manage consumption and support reliability.

NRG’s generation mix includes conventional thermal plants as well as renewable and distributed energy resources.