HighTower Advisors LLC Grows Position in NRG Energy, Inc. $NRG

HighTower Advisors LLC raised its stake in shares of NRG Energy, Inc. (NYSE:NRG) by 7.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 60,719 shares of the utilities provider’s stock after purchasing an additional 4,101 shares during the period. HighTower Advisors LLC’s holdings in NRG Energy were worth $9,834,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NRG. Aviva PLC increased its position in NRG Energy by 9.7% in the second quarter. Aviva PLC now owns 155,392 shares of the utilities provider’s stock worth $24,953,000 after purchasing an additional 13,757 shares during the last quarter. Reaves W H & Co. Inc. grew its stake in shares of NRG Energy by 122.8% in the 3rd quarter. Reaves W H & Co. Inc. now owns 295,471 shares of the utilities provider’s stock worth $47,852,000 after buying an additional 162,874 shares in the last quarter. MidWestOne Financial Group Inc. increased its holdings in shares of NRG Energy by 58.1% in the 3rd quarter. MidWestOne Financial Group Inc. now owns 19,992 shares of the utilities provider’s stock worth $3,238,000 after buying an additional 7,344 shares during the last quarter. Border to Coast Pensions Partnership Ltd purchased a new stake in shares of NRG Energy during the 3rd quarter valued at about $27,003,000. Finally, American Century Companies Inc. lifted its holdings in shares of NRG Energy by 68.2% in the 2nd quarter. American Century Companies Inc. now owns 251,366 shares of the utilities provider’s stock valued at $40,364,000 after acquiring an additional 101,922 shares during the last quarter. Institutional investors own 97.72% of the company’s stock.

Insider Activity

In related news, VP Brian Curci sold 46,976 shares of the business’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 owned 46,113 shares in the company, valued at approximately $7,324,588.92. The trade was a 50.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert J. Gaudette sold 45,000 shares of the firm’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $158.76, for a total value of $7,144,200.00. Following the transaction, the vice president 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 172,556 shares of company stock valued at $27,550,446. Corporate insiders own 0.86% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NRG. Zacks Research cut NRG Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Jefferies Financial Group cut their target price on NRG Energy from $198.00 to $181.00 and set a “buy” rating on the stock in a research 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. Morgan Stanley set a $153.00 price objective on shares of NRG Energy in a research report on Tuesday. Finally, Wells Fargo & Company lifted their price target on shares of NRG Energy from $202.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $185.73.

NRG Energy Stock Up 2.4%

Shares of NRG opened at $179.17 on Friday. The firm has a fifty day moving average price of $156.86 and a 200-day moving average price of $160.11. 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 firm has a market capitalization of $38.46 billion, a P/E ratio of 26.78 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 announced that its board has approved a stock repurchase plan on Thursday, November 6th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the utilities provider to buy up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

NRG Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd were given a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 1.1%. This is a boost from NRG Energy’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Monday, February 2nd. NRG Energy’s dividend payout ratio is 28.40%.

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.