Moran Wealth Management LLC Invests $228,000 in NRG Energy, Inc. (NYSE:NRG)

Moran Wealth Management LLC acquired a new stake in NRG Energy, Inc. (NYSE:NRG) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,523 shares of the utilities provider’s stock, valued at approximately $228,000.

Several other large investors have also bought and sold shares of the stock. Geode Capital Management LLC grew its position in shares of NRG Energy by 6.2% in the 3rd quarter. Geode Capital Management LLC now owns 5,399,098 shares of the utilities provider’s stock valued at $494,225,000 after buying an additional 313,478 shares during the last quarter. Banco Santander S.A. lifted its stake in shares of NRG Energy by 0.3% in the fourth quarter. Banco Santander S.A. now owns 2,828,000 shares of the utilities provider’s stock worth $255,142,000 after acquiring an additional 7,500 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in NRG Energy by 7.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,663,441 shares of the utilities provider’s stock valued at $242,639,000 after acquiring an additional 182,481 shares during the last quarter. Assenagon Asset Management S.A. increased 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 valued at $140,504,000 after purchasing an additional 1,417,057 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings 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 purchasing an additional 456,573 shares during the last quarter. 97.72% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other NRG Energy news, CFO Bruce Chung sold 20,000 shares of NRG Energy stock in a transaction dated 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 transaction, the chief financial officer now owns 69,454 shares in the company, valued at approximately $6,780,794.02. The trade was a 22.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert J. Gaudette sold 60,000 shares of the stock in a transaction that occurred on 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 sale, the vice president now directly 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. 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. Guggenheim increased their price target on NRG Energy from $134.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. 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 research note on Tuesday, November 26th. StockNews.com lowered NRG Energy from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Finally, Morgan Stanley raised their price objective on shares of NRG Energy from $86.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, NRG Energy has an average rating of “Moderate Buy” and an average price target of $123.29.

NRG Energy Trading Up 4.3 %

NYSE NRG opened at $92.40 on Thursday. 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 52 week low of $62.14 and a 52 week high of $117.26. The business has a 50 day moving average price of $102.26 and a 200-day moving average price of $94.30. The company has a market cap of $18.30 billion, a price-to-earnings ratio of 23.22, 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. Shareholders of record on Monday, February 3rd were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend 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 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.