TriaGen Wealth Management LLC Buys New Stake in NRG Energy, Inc. (NYSE:NRG)

TriaGen Wealth Management LLC purchased a new stake in NRG Energy, Inc. (NYSE:NRG) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 18,908 shares of the utilities provider’s stock, valued at approximately $1,706,000.

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

NRG Energy Trading Down 2.2 %

NYSE:NRG opened at $102.65 on Friday. The stock has a market capitalization of $20.79 billion, a price-to-earnings ratio of 25.79, a PEG ratio of 1.19 and a beta of 1.15. NRG Energy, Inc. has a 1 year low of $51.26 and a 1 year high of $115.38. The stock has a fifty day moving average price of $98.17 and a two-hundred day moving average price of $89.26. The company has a debt-to-equity ratio of 5.57, a quick ratio of 1.10 and a current ratio of 1.17.

NRG Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 3rd will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $1.76 dividend on an annualized basis and a yield of 1.71%. This is an increase from NRG Energy’s previous quarterly dividend of $0.41. NRG Energy’s payout ratio is currently 40.95%.

Insiders Place Their Bets

In other NRG Energy news, CFO Bruce Chung sold 20,000 shares of the company’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $97.63, for a total value of $1,952,600.00. Following the sale, the chief financial officer now owns 69,454 shares of the company’s stock, valued at approximately $6,780,794.02. This represents a 22.36 % decrease in their ownership of the stock. 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 NRG Energy 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 directly owns 64,448 shares of the company’s stock, valued at $5,891,191.68. This trade represents a 48.21 % decrease in their position. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Guggenheim lifted their price objective on shares of NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. BMO Capital Markets upped their price objective on NRG Energy from $94.00 to $100.00 and gave the company a “market perform” rating in a research note on Tuesday, November 19th. Wells Fargo & Company lifted their target price on 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 upgraded 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. Finally, Jefferies Financial Group upgraded shares of NRG Energy from a “hold” rating to a “buy” rating and lifted their price objective for the company 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 assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $111.43.

NRG Energy Company 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.