Public Sector Pension Investment Board Has $6.75 Million Stock Position in NRG Energy, Inc. $NRG

Public Sector Pension Investment Board lessened its holdings in NRG Energy, Inc. (NYSE:NRG) by 53.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,686 shares of the utilities provider’s stock after selling 48,540 shares during the quarter. Public Sector Pension Investment Board’s holdings in NRG Energy were worth $6,751,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Daymark Wealth Partners LLC raised its stake in NRG Energy by 2.2% during the second quarter. Daymark Wealth Partners LLC now owns 2,944 shares of the utilities provider’s stock worth $473,000 after acquiring an additional 64 shares in the last quarter. New Wave Wealth Advisors LLC grew its holdings in shares of NRG Energy by 3.0% during the 3rd quarter. New Wave Wealth Advisors LLC now owns 2,222 shares of the utilities provider’s stock valued at $360,000 after purchasing an additional 65 shares during the last quarter. Golden State Equity Partners increased its position in NRG Energy by 4.7% during the 3rd quarter. Golden State Equity Partners now owns 1,589 shares of the utilities provider’s stock worth $257,000 after purchasing an additional 72 shares in the last quarter. Optivise Advisory Services LLC lifted its stake in NRG Energy by 5.1% in the 3rd quarter. Optivise Advisory Services LLC now owns 1,670 shares of the utilities provider’s stock valued at $270,000 after purchasing an additional 81 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in NRG Energy by 6.2% in the second quarter. Parkside Financial Bank & Trust now owns 1,437 shares of the utilities provider’s stock valued at $231,000 after buying an additional 84 shares in the last quarter. 97.72% of the stock is currently owned by institutional investors.

NRG Energy Price Performance

Shares of NYSE NRG opened at $171.24 on Thursday. The company has a market capitalization of $36.76 billion, a PE ratio of 25.60 and a beta of 1.27. 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 fifty day simple moving average of $156.41 and a 200 day simple moving average of $160.05.

NRG Energy declared that its Board of Directors has initiated a stock repurchase program on Thursday, November 6th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the utilities provider to buy up to 9.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

NRG Energy Increases Dividend

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

Insiders Place Their Bets

In other NRG Energy news, VP Brian Curci sold 46,976 shares of the firm’s stock in a transaction on Tuesday, January 6th. The shares were 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 directly owned 46,113 shares in the company, valued at approximately $7,324,588.92. This trade represents a 50.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Robert J. Gaudette sold 45,000 shares of the company’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $158.76, for a total transaction of $7,144,200.00. Following the transaction, the vice president owned 63,920 shares in the company, valued at $10,147,939.20. This represents a 41.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 172,556 shares of company stock worth $27,550,446. 0.86% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NRG has been the subject of a number of research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of NRG Energy in a research note on Monday, December 29th. BMO Capital Markets boosted their price target on NRG Energy from $185.00 to $195.00 and gave the stock a “market perform” rating in a report on Friday, November 7th. Wells Fargo & Company upped their price objective on NRG Energy from $202.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Zacks Research downgraded shares of NRG Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Finally, Morgan Stanley set a $153.00 price target on shares of NRG Energy in a research report on Tuesday. One equities 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $185.73.

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.