Alberta Investment Management Corp Takes $4.88 Million Position in NRG Energy, Inc. $NRG

Alberta Investment Management Corp purchased a new stake in NRG Energy, Inc. (NYSE:NRG) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 30,100 shares of the utilities provider’s stock, valued at approximately $4,875,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its position in shares of NRG Energy by 41.8% during the fourth quarter. Brighton Jones LLC now owns 5,187 shares of the utilities provider’s stock worth $468,000 after purchasing an additional 1,528 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in NRG Energy during the 1st quarter worth approximately $323,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of NRG Energy by 7.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,257 shares of the utilities provider’s stock valued at $1,934,000 after acquiring an additional 1,381 shares during the last quarter. Woodline Partners LP raised its position in shares of NRG Energy by 40.7% during the 1st quarter. Woodline Partners LP now owns 17,114 shares of the utilities provider’s stock valued at $1,634,000 after acquiring an additional 4,949 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in NRG Energy by 2.7% during the second quarter. Nordea Investment Management AB now owns 10,736 shares of the utilities provider’s stock worth $1,733,000 after purchasing an additional 279 shares during the last quarter. 97.72% of the stock is currently owned by institutional investors.

NRG Energy Stock Performance

NRG stock opened at $175.14 on Friday. The company has a market capitalization of $37.60 billion, a P/E ratio of 26.18 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. The company has a 50-day simple moving average of $156.50 and a 200 day simple moving average of $160.16. NRG Energy, Inc. has a fifty-two week low of $79.57 and a fifty-two week high of $180.54.

NRG Energy Increases Dividend

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

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

Analyst Ratings Changes

A number of brokerages have weighed in on NRG. BMO Capital Markets increased 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. Weiss Ratings reissued a “buy (b)” rating on shares of NRG Energy in a report on Monday, December 29th. Wells Fargo & Company upped their target price on NRG Energy from $202.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Jefferies Financial Group cut their price target on NRG Energy from $198.00 to $181.00 and set a “buy” rating on the stock in a report on Tuesday, January 27th. Finally, UBS Group initiated coverage on NRG Energy in a research note on Tuesday, December 9th. They set a “buy” rating and a $211.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $185.73.

Insider Activity

In other NRG Energy news, CFO Bruce Chung sold 12,383 shares of the business’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $156.56, for a total value of $1,938,682.48. Following the sale, the chief financial officer directly owned 79,147 shares in the company, valued at approximately $12,391,254.32. The trade was a 13.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Brian Curci sold 60,580 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $161.71, for a total transaction of $9,796,391.80. Following the completion of the sale, the vice president directly owned 93,089 shares of the company’s stock, valued at $15,053,422.19. The trade was a 39.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 172,556 shares of company stock worth $27,550,446. 0.86% of the stock is owned by company insiders.

About NRG Energy

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.