Sierra Summit Advisors LLC Buys 4,518 Shares of NRG Energy, Inc. (NYSE:NRG)

Sierra Summit Advisors LLC increased its stake in shares of NRG Energy, Inc. (NYSE:NRG) by 36.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 17,027 shares of the utilities provider’s stock after acquiring an additional 4,518 shares during the quarter. Sierra Summit Advisors LLC’s holdings in NRG Energy were worth $1,536,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of NRG. Geode Capital Management LLC increased its stake 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 period. Banco Santander S.A. increased its position in 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 purchasing an additional 7,500 shares during the period. Appaloosa LP raised its holdings in NRG Energy by 81.5% during the 4th quarter. Appaloosa LP now owns 1,815,000 shares of the utilities provider’s stock worth $163,749,000 after purchasing an additional 815,180 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings 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 purchasing an additional 1,417,057 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of NRG Energy by 4.2% in the 4th quarter. Russell Investments Group Ltd. now owns 1,414,186 shares of the utilities provider’s stock valued at $127,614,000 after purchasing an additional 56,944 shares during the last quarter. Institutional investors and hedge funds own 97.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on NRG shares. StockNews.com lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. The Goldman Sachs Group started coverage on NRG Energy in a research note on Friday. They issued a “buy” rating and a $129.00 price target on the stock. BMO Capital Markets lifted their price objective on NRG Energy from $100.00 to $115.00 and gave the stock a “market perform” rating in a research note on Monday, March 3rd. Morgan Stanley increased their target price on NRG Energy from $86.00 to $99.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company boosted their target price on NRG Energy from $140.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $124.00.

Insider Transactions at NRG Energy

In related news, CFO Bruce Chung sold 20,000 shares of the 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 directly owns 69,454 shares in the company, valued at approximately $6,780,794.02. This trade represents a 22.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.86% of the stock is owned by insiders.

NRG Energy Trading Down 10.1 %

NYSE NRG opened at $83.38 on Monday. NRG Energy, Inc. has a one year low of $65.11 and a one year high of $117.26. 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 cap of $16.98 billion, a P/E ratio of 20.95, a P/E/G ratio of 1.01 and a beta of 1.10. The stock’s 50-day moving average is $100.23 and its 200-day moving average is $96.28.

NRG Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost from NRG Energy’s previous quarterly dividend of $0.41. NRG Energy’s dividend payout ratio is 35.92%.

About NRG Energy

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.