NRG Energy, Inc. $NRG Position Cut by Aberdeen Group plc

Aberdeen Group plc lowered its holdings in shares of NRG Energy, Inc. (NYSE:NRG) by 23.9% during the 3rd quarter, Holdings Channel reports. The fund owned 130,006 shares of the utilities provider’s stock after selling 40,834 shares during the period. Aberdeen Group plc’s holdings in NRG Energy were worth $21,495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the business. Quent Capital LLC acquired a new stake in NRG Energy in the third quarter worth about $25,000. Bank of Jackson Hole Trust acquired a new stake in shares of NRG Energy in the 2nd quarter worth approximately $28,000. Atlantic Union Bankshares Corp boosted its holdings in shares of 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 acquiring an additional 85 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new position in shares of NRG Energy during the second quarter valued at approximately $32,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in NRG Energy during the second quarter worth approximately $35,000. Institutional investors own 97.72% of the company’s stock.

Insider Transactions at NRG Energy

In other news, VP Brian Curci sold 46,976 shares of the company’s stock in a transaction dated 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 transaction, the vice president owned 46,113 shares in the company, valued at $7,324,588.92. This represents a 50.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Robert J. Gaudette sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $158.76, for a total transaction of $7,144,200.00. Following the sale, the vice president owned 63,920 shares of the company’s stock, valued at approximately $10,147,939.20. This represents a 41.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 172,556 shares of company stock valued at $27,550,446 over the last quarter. Company insiders own 0.61% of the company’s stock.

NRG Energy Stock Performance

NRG Energy stock opened at $173.41 on Wednesday. NRG Energy, Inc. has a fifty-two week low of $79.57 and a fifty-two week high of $180.54. The firm’s 50 day simple moving average is $156.35 and its 200-day simple moving average is $159.97. The company has a debt-to-equity ratio of 8.45, a current ratio of 1.05 and a quick ratio of 0.99. The company has a market cap of $37.23 billion, a P/E ratio of 25.92 and a beta of 1.27.

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

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 issued a $0.475 dividend. The ex-dividend date was Monday, February 2nd. This is an increase from NRG Energy’s previous quarterly dividend of $0.44. This represents a $1.90 dividend on an annualized basis and a dividend yield of 1.1%. NRG Energy’s dividend payout ratio is currently 28.40%.

Wall Street Analyst Weigh In

NRG has been the subject of a number of research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of NRG Energy in a research note on Monday, December 29th. Jefferies Financial Group lowered their target price on NRG Energy from $198.00 to $181.00 and set a “buy” rating on the stock in a report on Tuesday, January 27th. Wells Fargo & Company upped their price target on shares of NRG Energy from $202.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. UBS Group started coverage on shares of NRG Energy in a research note on Tuesday, December 9th. They issued a “buy” rating and a $211.00 price objective on the stock. Finally, Morgan Stanley set a $153.00 target price on shares of NRG Energy in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $185.73.

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.