CenterBook Partners LP Has $1.42 Million Stock Holdings in NRG Energy, Inc. $NRG

CenterBook Partners LP decreased its stake in shares of NRG Energy, Inc. (NYSE:NRG) by 77.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,774 shares of the utilities provider’s stock after selling 30,191 shares during the period. CenterBook Partners LP’s holdings in NRG Energy were worth $1,421,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NRG. Quent Capital LLC acquired a new position in shares of NRG Energy during the third quarter worth approximately $25,000. Bank of Jackson Hole Trust bought a new position in NRG Energy in the 2nd quarter worth approximately $28,000. Atlantic Union Bankshares Corp lifted its holdings in NRG Energy by 90.4% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 179 shares of the utilities provider’s stock worth $29,000 after buying an additional 85 shares in the last quarter. Fourth Dimension Wealth LLC bought a new position in NRG Energy in the 2nd quarter valued at $32,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in shares of NRG Energy in the 2nd quarter valued at $35,000. Institutional investors and hedge funds own 97.72% of the company’s stock.

NRG Energy Stock Performance

Shares of NYSE:NRG opened at $179.17 on Friday. The firm’s 50 day simple moving average is $156.86 and its 200 day simple moving average is $160.19. NRG Energy, Inc. has a fifty-two week low of $79.57 and a fifty-two week high of $180.54. The company has a market capitalization of $38.46 billion, a price-to-earnings ratio of 26.78 and a beta of 1.27. The company has a debt-to-equity ratio of 8.45, a current ratio of 1.05 and a quick ratio of 0.99.

NRG Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd were given a dividend of $0.475 per share. This is a positive change 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%. The ex-dividend date of this dividend was Monday, February 2nd. NRG Energy’s payout ratio is 28.40%.

NRG Energy announced that its board has initiated a share repurchase program 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 shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NRG shares. Wells Fargo & Company upped their price target 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. UBS Group started coverage on shares of NRG Energy in a research report on Tuesday, December 9th. They set a “buy” rating and a $211.00 price target for the company. Weiss Ratings restated a “buy (b)” rating on shares of NRG Energy in a report on Monday, December 29th. Finally, BMO Capital Markets raised their price objective on shares of NRG Energy from $185.00 to $195.00 and gave the company a “market perform” rating in a research note on Friday, November 7th. 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 assigned a Sell rating to the stock. According to MarketBeat.com, NRG Energy currently has an average rating of “Moderate Buy” and a consensus target price of $185.73.

Insider Activity

In other NRG Energy news, VP Robert J. Gaudette sold 45,000 shares of the business’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $158.76, for a total value of $7,144,200.00. Following the completion of the transaction, the vice president directly owned 63,920 shares of the company’s stock, valued at approximately $10,147,939.20. The trade was a 41.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brian Curci sold 60,580 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $161.71, for a total value of $9,796,391.80. Following the completion of the sale, the vice president owned 93,089 shares of the company’s stock, valued at $15,053,422.19. This trade represents a 39.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 172,556 shares of company stock valued at $27,550,446 in the last quarter. Company 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.