Assetmark Inc. Has $95.84 Million Position in NRG Energy, Inc. $NRG

Assetmark Inc. boosted its position in shares of NRG Energy, Inc. (NYSE:NRG) by 22.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 591,763 shares of the utilities provider’s stock after acquiring an additional 106,539 shares during the period. Assetmark Inc. owned approximately 0.31% of NRG Energy worth $95,836,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in NRG Energy by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 5,411,045 shares of the utilities provider’s stock valued at $865,437,000 after purchasing an additional 39,253 shares during the last quarter. Holocene Advisors LP increased its holdings in shares of NRG Energy by 113.3% during the second quarter. Holocene Advisors LP now owns 1,444,271 shares of the utilities provider’s stock worth $231,921,000 after buying an additional 767,014 shares in the last quarter. Legal & General Group Plc raised its stake in shares of NRG Energy by 2.1% in the second quarter. Legal & General Group Plc now owns 975,218 shares of the utilities provider’s stock valued at $156,601,000 after acquiring an additional 19,997 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of NRG Energy by 36.4% in the 2nd quarter. First Trust Advisors LP now owns 887,413 shares of the utilities provider’s stock worth $142,501,000 after acquiring an additional 237,009 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC grew its position in NRG Energy by 492.5% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 883,781 shares of the utilities provider’s stock worth $141,918,000 after acquiring an additional 734,624 shares during the last quarter. Institutional investors own 97.72% of the company’s stock.

NRG Energy Trading Up 0.7%

Shares of NRG stock opened at $161.81 on Friday. The stock’s fifty day simple moving average is $155.84 and its 200 day simple moving average is $159.84. The company has a quick ratio of 0.99, a current ratio of 1.05 and a debt-to-equity ratio of 8.45. NRG Energy, Inc. has a twelve month low of $79.57 and a twelve month high of $180.54. The firm has a market capitalization of $34.74 billion, a P/E ratio of 24.19 and a beta of 1.27.

NRG Energy Increases Dividend

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

NRG Energy declared that its Board of Directors has initiated a share repurchase plan on Thursday, November 6th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the utilities provider to repurchase up to 9.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms have commented on NRG. UBS Group assumed coverage on NRG Energy in a research note on Tuesday, December 9th. They issued a “buy” rating and a $211.00 price objective on the stock. Zacks Research cut NRG Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. BMO Capital Markets raised their target price on shares of NRG Energy from $185.00 to $195.00 and gave the company a “market perform” rating in a research report on Friday, November 7th. Jefferies Financial Group decreased their price objective on shares of NRG Energy from $198.00 to $181.00 and set a “buy” rating on the stock in a report on Tuesday, January 27th. Finally, Wells Fargo & Company lifted their target price on shares of NRG Energy from $202.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $184.91.

Insider Buying and Selling at NRG Energy

In other news, CFO Bruce Chung sold 12,383 shares of NRG Energy stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $156.56, for a total value of $1,938,682.48. Following the completion of the transaction, the chief financial officer directly owned 79,147 shares of the company’s stock, valued at approximately $12,391,254.32. This trade represents a 13.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Brian Curci sold 46,976 shares of NRG Energy stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $158.84, for a total transaction of $7,461,667.84. Following the completion of the sale, the vice president owned 46,113 shares of the company’s stock, valued at $7,324,588.92. This represents a 50.46% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 172,556 shares of company stock worth $27,550,446. Insiders own 0.86% of the company’s stock.

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.