NRG Energy, Inc. (NYSE:NRG – Get Free Report)’s share price fell 13.5% during trading on Monday . The stock traded as low as $97.12 and last traded at $97.23. 1,379,996 shares traded hands during trading, a decline of 56% from the average session volume of 3,166,572 shares. The stock had previously closed at $112.37.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. Guggenheim boosted their price objective on NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Citigroup boosted their price objective on shares of NRG Energy from $84.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. BMO Capital Markets increased their target price on NRG Energy from $94.00 to $100.00 and gave the stock a “market perform” rating in a report on Tuesday, November 19th. Evercore ISI upgraded NRG Energy from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $74.00 to $126.00 in a report on Tuesday, January 21st. Finally, Jefferies Financial Group raised NRG Energy from a “hold” rating to a “buy” rating and upped their price target for the stock from $93.00 to $113.00 in a research report on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $111.43.
Read Our Latest Stock Analysis on NRG
NRG Energy Stock Performance
NRG Energy Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be issued a $0.44 dividend. This is an increase from NRG Energy’s previous quarterly dividend of $0.41. This represents a $1.76 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Monday, February 3rd. NRG Energy’s payout ratio is currently 40.95%.
Insider Transactions at NRG Energy
In other NRG Energy news, CFO Bruce Chung sold 20,000 shares of the stock in a transaction 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 owns 69,454 shares in the company, valued at $6,780,794.02. This trade represents a 22.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Robert J. Gaudette sold 60,000 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now directly owns 64,448 shares in the company, valued at approximately $5,891,191.68. This represents a 48.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On NRG Energy
Hedge funds have recently added to or reduced their stakes in the stock. MBB Public Markets I LLC bought a new stake in NRG Energy during the second quarter worth about $1,249,000. Creative Planning boosted its position in shares of NRG Energy by 93.9% during the 2nd quarter. Creative Planning now owns 138,461 shares of the utilities provider’s stock worth $10,781,000 after acquiring an additional 67,063 shares in the last quarter. NewEdge Advisors LLC raised its position in NRG Energy by 203.6% during the second quarter. NewEdge Advisors LLC now owns 33,189 shares of the utilities provider’s stock valued at $2,584,000 after purchasing an additional 22,257 shares in the last quarter. Cetera Investment Advisers lifted its stake in NRG Energy by 3.4% during the second quarter. Cetera Investment Advisers now owns 76,412 shares of the utilities provider’s stock worth $5,950,000 after purchasing an additional 2,547 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its stake in shares of NRG Energy by 1,690.0% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 334,836 shares of the utilities provider’s stock valued at $26,070,000 after purchasing an additional 316,130 shares during the last quarter. Institutional investors own 97.72% of the company’s stock.
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.
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