CenterBook Partners LP Has $1.42 Million Holdings in NRG Energy, Inc. $NRG

CenterBook Partners LP decreased its stake in shares of NRG Energy, Inc. (NYSE:NRG) by 77.5% in the 3rd quarter, Holdings Channel reports. The fund owned 8,774 shares of the utilities provider’s stock after selling 30,191 shares during the quarter. CenterBook Partners LP’s holdings in NRG Energy were worth $1,421,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Daymark Wealth Partners LLC increased its holdings in NRG Energy by 2.2% during the 2nd quarter. Daymark Wealth Partners LLC now owns 2,944 shares of the utilities provider’s stock worth $473,000 after purchasing an additional 64 shares in the last quarter. New Wave Wealth Advisors LLC grew its holdings in shares of NRG Energy by 3.0% during the third quarter. New Wave Wealth Advisors LLC now owns 2,222 shares of the utilities provider’s stock worth $360,000 after buying an additional 65 shares in the last quarter. Golden State Equity Partners raised its position in NRG Energy by 4.7% in the 3rd quarter. Golden State Equity Partners now owns 1,589 shares of the utilities provider’s stock valued at $257,000 after buying an additional 72 shares during the last quarter. Zions Bancorporation National Association UT lifted its stake in NRG Energy by 19.8% in the 3rd quarter. Zions Bancorporation National Association UT now owns 459 shares of the utilities provider’s stock valued at $74,000 after acquiring an additional 76 shares in the last quarter. Finally, Optivise Advisory Services LLC boosted its position in NRG Energy by 5.1% during 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 during the last quarter. 97.72% of the stock is owned by institutional investors.

NRG Energy Trading Up 2.4%

Shares of NYSE:NRG opened at $179.17 on Friday. NRG Energy, Inc. has a 52-week low of $79.57 and a 52-week high of $180.54. 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 company has a market capitalization of $38.46 billion, a P/E ratio of 26.78 and a beta of 1.27. The company has a 50-day simple moving average of $156.86 and a 200 day simple moving average of $160.19.

NRG Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd were paid a dividend of $0.475 per share. The ex-dividend date was Monday, February 2nd. This represents a $1.90 annualized dividend and a dividend yield of 1.1%. This is an increase 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 authorized a stock 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 repurchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

NRG has been the topic of a number of research reports. Jefferies Financial Group cut their price objective on shares of NRG Energy from $198.00 to $181.00 and set a “buy” rating on the stock in a research report on Tuesday, January 27th. Wells Fargo & Company boosted their price target on shares of NRG Energy from $202.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Weiss Ratings restated a “buy (b)” rating on shares of NRG Energy in a report on Monday, December 29th. BMO Capital Markets upped their target price on NRG Energy from $185.00 to $195.00 and gave the stock a “market perform” rating in a report on Friday, November 7th. Finally, Zacks Research cut NRG Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. One investment 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 assigned a Sell rating to the stock. According to data from MarketBeat, NRG Energy presently has an average rating of “Moderate Buy” and a consensus price target of $185.73.

Insider Buying and Selling

In other NRG Energy news, VP Brian Curci sold 60,580 shares of NRG Energy stock in a transaction on Monday, January 5th. The shares were sold at an average price of $161.71, for a total transaction of $9,796,391.80. Following the completion of the transaction, the vice president directly owned 93,089 shares of the company’s stock, valued at $15,053,422.19. The trade was a 39.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Robert J. Gaudette sold 45,000 shares of the stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $158.76, for a total transaction of $7,144,200.00. Following the completion of the transaction, the vice president directly owned 63,920 shares in the company, valued at $10,147,939.20. The trade was a 41.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 172,556 shares of company stock valued at $27,550,446. 0.86% of the stock is owned by 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.