Byrne Asset Management LLC Has $1.26 Million Stake in NRG Energy, Inc. (NYSE:NRG)

Byrne Asset Management LLC lifted its position in shares of NRG Energy, Inc. (NYSE:NRG) by 15.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,975 shares of the utilities provider’s stock after buying an additional 1,818 shares during the quarter. Byrne Asset Management LLC’s holdings in NRG Energy were worth $1,261,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Everence Capital Management Inc. acquired a new position in shares of NRG Energy in the 4th quarter valued at about $549,000. Meyer Handelman Co. lifted its stake in NRG Energy by 43.8% in the fourth quarter. Meyer Handelman Co. now owns 78,982 shares of the utilities provider’s stock valued at $7,126,000 after buying an additional 24,062 shares during the period. Luxor Capital Group LP boosted its holdings in shares of NRG Energy by 47.8% during the 3rd quarter. Luxor Capital Group LP now owns 520,591 shares of the utilities provider’s stock worth $47,426,000 after buying an additional 168,267 shares in the last quarter. Pine Valley Investments Ltd Liability Co grew its position in shares of NRG Energy by 25.1% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 50,027 shares of the utilities provider’s stock worth $4,557,000 after buying an additional 10,031 shares during the period. Finally, Bank of Hawaii lifted its position in shares of NRG Energy by 95.5% during the 3rd quarter. Bank of Hawaii now owns 15,685 shares of the utilities provider’s stock valued at $1,429,000 after acquiring an additional 7,662 shares during the period. Institutional investors and hedge funds own 97.72% of the company’s stock.

Insider Transactions at NRG Energy

In other NRG Energy news, VP Robert J. Gaudette sold 60,000 shares of the business’s stock in a transaction 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 transaction, the vice president now owns 64,448 shares of the company’s stock, valued at approximately $5,891,191.68. The trade was a 48.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Bruce Chung sold 20,000 shares of the company’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 transaction, the chief financial officer now owns 69,454 shares of the company’s stock, valued at $6,780,794.02. This trade represents a 22.36 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Wells Fargo & Company lifted their price target on shares of NRG Energy from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Evercore ISI raised NRG Energy from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $74.00 to $126.00 in a research note on Tuesday, January 21st. Citigroup raised their price objective on NRG Energy from $84.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Jefferies Financial Group upgraded NRG Energy from a “hold” rating to a “buy” rating and increased their target price for the stock from $93.00 to $113.00 in a report on Tuesday, November 26th. Finally, BMO Capital Markets boosted their price target on shares of NRG Energy from $94.00 to $100.00 and gave the company a “market perform” rating in a research note on Tuesday, November 19th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $111.43.

NRG Energy Stock Performance

NYSE NRG opened at $102.96 on Friday. The company has a fifty day moving average price of $98.59 and a 200-day moving average price of $90.22. The firm has a market cap of $20.86 billion, a price-to-earnings ratio of 25.87, a PEG ratio of 1.22 and a beta of 1.15. The company has a debt-to-equity ratio of 5.57, a current ratio of 1.17 and a quick ratio of 1.10. NRG Energy, Inc. has a 1 year low of $51.26 and a 1 year high of $115.38.

NRG Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $1.76 annualized dividend and a dividend yield of 1.71%. This is a boost from NRG Energy’s previous quarterly dividend of $0.41. NRG Energy’s dividend payout ratio (DPR) is currently 44.22%.

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.