Cassaday & Co Wealth Management LLC Trims Stake in NRG Energy, Inc. $NRG

Cassaday & Co Wealth Management LLC lessened its stake in NRG Energy, Inc. (NYSE:NRG) by 25.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,062 shares of the utilities provider’s stock after selling 12,097 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in NRG Energy were worth $5,840,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NRG. Quent Capital LLC purchased a new position in NRG Energy in the third quarter valued at $25,000. Bank of Jackson Hole Trust acquired a new position in NRG Energy in the 2nd quarter worth about $28,000. Atlantic Union Bankshares Corp grew its holdings in NRG Energy by 90.4% in the third quarter. Atlantic Union Bankshares Corp now owns 179 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 85 shares during the period. Fourth Dimension Wealth LLC acquired a new position in shares of NRG Energy during the 2nd quarter worth approximately $32,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in shares of NRG Energy during the 2nd quarter worth approximately $35,000. 97.72% of the stock is owned by hedge funds and other institutional investors.

NRG Energy Price Performance

NYSE:NRG opened at $172.60 on Tuesday. NRG Energy, Inc. has a one year low of $79.57 and a one year high of $180.54. The stock has a market cap of $37.05 billion, a PE ratio of 25.80 and a beta of 1.27. The company has a debt-to-equity ratio of 8.45, a quick ratio of 0.99 and a current ratio of 1.05. The stock has a 50 day moving average price of $156.21 and a 200 day moving average price of $159.93.

NRG Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd will be given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, February 2nd. This is a positive change from NRG Energy’s previous quarterly dividend of $0.44. NRG Energy’s dividend payout ratio is presently 28.40%.

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on NRG. Jefferies Financial Group cut their price target on shares of NRG Energy from $198.00 to $181.00 and set a “buy” rating for the company in a report on Tuesday, January 27th. Weiss Ratings restated a “buy (b)” rating on shares of NRG Energy in a research report on Monday, December 29th. UBS Group assumed coverage on NRG Energy in a research note on Tuesday, December 9th. They set a “buy” rating and a $211.00 price objective for the company. Zacks Research cut NRG Energy from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Finally, BMO Capital Markets lifted their price target 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 analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $184.91.

Insider Activity at NRG Energy

In related news, CFO Bruce Chung sold 12,383 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $156.56, for a total value of $1,938,682.48. Following the transaction, the chief financial officer directly owned 79,147 shares in the company, valued at approximately $12,391,254.32. This represents a 13.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Brian Curci sold 46,976 shares of the firm’s stock in a transaction 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 sale, the vice president directly owned 46,113 shares of the company’s stock, valued at approximately $7,324,588.92. This trade represents a 50.46% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 172,556 shares of company stock valued at $27,550,446. 0.61% of the stock is owned by company insiders.

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.