Assetmark Inc. Acquires 106,539 Shares of NRG Energy, Inc. $NRG

Assetmark Inc. raised its stake in shares of NRG Energy, Inc. (NYSE:NRG) by 22.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 591,763 shares of the utilities provider’s stock after purchasing an additional 106,539 shares during the period. Assetmark Inc.’s holdings in NRG Energy were worth $95,836,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Daymark Wealth Partners LLC boosted its position in shares of NRG Energy by 2.2% during the second quarter. Daymark Wealth Partners LLC now owns 2,944 shares of the utilities provider’s stock valued at $473,000 after buying an additional 64 shares during the last quarter. New Wave Wealth Advisors LLC lifted its stake in NRG Energy by 3.0% during the 3rd quarter. New Wave Wealth Advisors LLC now owns 2,222 shares of the utilities provider’s stock valued at $360,000 after acquiring an additional 65 shares in the last quarter. Golden State Equity Partners boosted its holdings in NRG Energy by 4.7% during the 3rd quarter. Golden State Equity Partners now owns 1,589 shares of the utilities provider’s stock worth $257,000 after acquiring an additional 72 shares during the last quarter. Optivise Advisory Services LLC grew its stake in shares of NRG Energy by 5.1% in the 3rd quarter. Optivise Advisory Services LLC now owns 1,670 shares of the utilities provider’s stock worth $270,000 after acquiring an additional 81 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in shares of NRG Energy by 6.2% in the second quarter. Parkside Financial Bank & Trust now owns 1,437 shares of the utilities provider’s stock valued at $231,000 after purchasing an additional 84 shares during the last quarter. 97.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on NRG. Weiss Ratings reiterated a “buy (b)” rating on shares of NRG Energy in a research note on Monday, December 29th. Wells Fargo & Company upped their target price on NRG Energy from $202.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Zacks Research lowered NRG Energy from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Morgan Stanley restated an “underperform” rating on shares of NRG Energy in a research note on Thursday, November 20th. Finally, BMO Capital Markets lifted their target price on NRG Energy from $185.00 to $195.00 and gave the stock a “market perform” rating in a research note on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, NRG Energy currently has a consensus rating of “Moderate Buy” and an average price target of $184.91.

Insider Activity at NRG Energy

In related news, VP Robert J. Gaudette sold 45,000 shares of the company’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $158.76, for a total value of $7,144,200.00. Following the completion of the transaction, the vice president directly owned 63,920 shares in the company, valued at approximately $10,147,939.20. The trade was a 41.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brian Curci sold 46,976 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $158.84, for a total value of $7,461,667.84. Following the completion of the sale, the vice president directly owned 46,113 shares of the company’s stock, valued at approximately $7,324,588.92. This represents a 50.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 172,556 shares of company stock valued at $27,550,446 over the last three months. 0.86% of the stock is owned by corporate insiders.

NRG Energy Price Performance

Shares of NYSE:NRG opened at $161.81 on Friday. The company has a 50 day moving average of $155.84 and a 200 day moving average of $159.84. The company has a current ratio of 1.05, a quick ratio of 0.99 and a debt-to-equity ratio of 8.45. The stock has a market cap of $34.74 billion, a P/E ratio of 24.19 and a beta of 1.27. NRG Energy, Inc. has a 12 month low of $79.57 and a 12 month high of $180.54.

NRG Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Monday, February 2nd will be given a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 1.2%. This is a positive change from NRG Energy’s previous quarterly dividend of $0.44. The ex-dividend date is Monday, February 2nd. NRG Energy’s dividend payout ratio (DPR) is currently 28.40%.

NRG Energy announced that its Board of Directors has authorized a stock buyback plan on Thursday, November 6th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the utilities provider to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

NRG Energy Profile

NRG Energy (NYSE: NRG) is a U.S.-based integrated power company headquartered in Houston, Texas. The company develops, owns and operates a diversified portfolio of power generation assets and participates in wholesale and retail energy markets. NRG supplies electricity to utilities, commercial and industrial customers, and retail consumers, while also providing energy-related products and services designed to manage consumption and support reliability.

NRG’s generation mix includes conventional thermal plants as well as renewable and distributed energy resources.