Envestnet Asset Management Inc. Boosts Stock Position in NRG Energy, Inc. $NRG

Envestnet Asset Management Inc. boosted its stake in shares of NRG Energy, Inc. (NYSE:NRG) by 24.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 362,510 shares of the utilities provider’s stock after acquiring an additional 71,757 shares during the quarter. Envestnet Asset Management Inc. owned about 0.19% of NRG Energy worth $58,708,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Aviva PLC increased its stake in NRG Energy by 9.7% during the second quarter. Aviva PLC now owns 155,392 shares of the utilities provider’s stock valued at $24,953,000 after purchasing an additional 13,757 shares during the last quarter. American Century Companies Inc. grew its stake in shares of NRG Energy by 68.2% in the second quarter. American Century Companies Inc. now owns 251,366 shares of the utilities provider’s stock worth $40,364,000 after purchasing an additional 101,922 shares in the last quarter. Global Retirement Partners LLC bought a new position in NRG Energy in the 2nd quarter valued at about $418,000. Trek Financial LLC acquired a new position in shares of NRG Energy during the second quarter valued at approximately $3,368,000. Finally, Ferguson Wellman Capital Management Inc. acquired a new position in shares of NRG Energy during the 3rd quarter valued at $25,268,000. Institutional investors own 97.72% of the company’s stock.

NRG Energy Stock Up 1.6%

NRG opened at $155.82 on Tuesday. 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 firm has a market cap of $33.45 billion, a price-to-earnings ratio of 23.29 and a beta of 1.27. NRG Energy, Inc. has a twelve month low of $79.57 and a twelve month high of $180.54. The firm’s 50-day simple moving average is $156.27 and its 200-day simple moving average is $159.83.

NRG Energy announced that its Board of Directors has initiated a share repurchase program on Thursday, November 6th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the utilities provider to reacquire up to 9.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

NRG Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd will be paid a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 1.2%. This is an increase from NRG Energy’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Monday, February 2nd. NRG Energy’s payout ratio is currently 28.40%.

Insider Transactions at NRG Energy

In other NRG Energy news, VP Virginia Kinney sold 20,000 shares of the stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $163.82, for a total value of $3,276,400.00. Following the transaction, the vice president owned 43,191 shares of the company’s stock, valued at approximately $7,075,549.62. This represents a 31.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Robert J. Gaudette sold 45,000 shares of the stock in a transaction 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 completion of the sale, the vice president owned 63,920 shares in the company, valued at approximately $10,147,939.20. This trade represents a 41.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 192,556 shares of company stock valued at $30,826,846 over the last 90 days. 0.61% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on NRG shares. BMO Capital Markets raised their target price on shares of NRG Energy from $185.00 to $195.00 and gave the stock a “market perform” rating in a report on Friday, November 7th. UBS Group started coverage on NRG Energy in a research note on Tuesday, December 9th. They set a “buy” rating and a $211.00 target price on the stock. Jefferies Financial Group reduced their price target on shares of NRG Energy from $198.00 to $181.00 and set a “buy” rating for the company in a research report on Tuesday, January 27th. Wells Fargo & Company increased their price objective on NRG Energy from $202.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Finally, Zacks Research lowered shares of 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 issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $184.91.

NRG Energy Company 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.