NRG Energy (NYSE:NRG) Sets New 12-Month High – Here’s What Happened

NRG Energy, Inc. (NYSE:NRG) shares hit a new 52-week high on Friday . The company traded as high as $103.14 and last traded at $102.21, with a volume of 1127150 shares changing hands. The stock had previously closed at $98.89.

Analyst Upgrades and Downgrades

NRG has been the subject of a number of research analyst reports. 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 report on Tuesday, October 8th. Jefferies Financial Group upgraded shares of NRG Energy from a “hold” rating to a “buy” rating and boosted their price target for the company from $93.00 to $113.00 in a report on Tuesday. Wells Fargo & Company boosted their price target on shares of NRG Energy from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, November 11th. StockNews.com lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Finally, Citigroup boosted their price target on shares of NRG Energy from $84.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $102.71.

NRG Energy Stock Performance

The company has a market cap of $20.58 billion, a PE ratio of 25.70, a P/E/G ratio of 1.35 and a beta of 1.10. The company has a current ratio of 1.17, a quick ratio of 1.10 and a debt-to-equity ratio of 5.57. The firm’s 50-day simple moving average is $91.36 and its two-hundred day simple moving average is $83.59.

NRG Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a $0.4075 dividend. This represents a $1.63 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Friday, November 1st. NRG Energy’s dividend payout ratio (DPR) is currently 40.95%.

Insider Activity

In other news, insider Rasesh M. Patel sold 102,603 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $80.35, for a total value of $8,244,151.05. Following the sale, the insider now directly owns 163,680 shares of the company’s stock, valued at $13,151,688. This represents a 38.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.86% of the company’s stock.

Institutional Trading of NRG Energy

Several large investors have recently made changes to their positions in the business. Castellan Group boosted its holdings in shares of NRG Energy by 77.0% in the 3rd quarter. Castellan Group now owns 113,064 shares of the utilities provider’s stock valued at $10,300,000 after acquiring an additional 49,197 shares during the last quarter. Tidal Investments LLC increased its holdings in NRG Energy by 72.3% in the third quarter. Tidal Investments LLC now owns 61,324 shares of the utilities provider’s stock valued at $5,587,000 after buying an additional 25,733 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of NRG Energy in the third quarter worth about $797,000. World Investment Advisors LLC purchased a new stake in shares of NRG Energy during the 3rd quarter worth about $254,000. Finally, Sanctuary Advisors LLC grew its position in shares of NRG Energy by 529.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 96,855 shares of the utilities provider’s stock valued at $9,248,000 after acquiring an additional 81,468 shares during the period. 97.72% of the stock is owned by hedge funds and other institutional investors.

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.