Axxcess Wealth Management LLC Buys 3,060 Shares of NRG Energy, Inc. $NRG

Axxcess Wealth Management LLC increased its stake in NRG Energy, Inc. (NYSE:NRG) by 64.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,830 shares of the utilities provider’s stock after buying an additional 3,060 shares during the period. Axxcess Wealth Management LLC’s holdings in NRG Energy were worth $1,268,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quent Capital LLC purchased a new position in shares of NRG Energy during the 3rd quarter worth approximately $25,000. Bank of Jackson Hole Trust bought a new stake in shares of NRG Energy during the second quarter valued at approximately $28,000. Atlantic Union Bankshares Corp grew its stake in NRG Energy by 90.4% in the third quarter. Atlantic Union Bankshares Corp now owns 179 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 85 shares during the period. Fourth Dimension Wealth LLC bought a new position in NRG Energy in the second quarter worth $32,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in NRG Energy during the second quarter valued at $35,000. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NRG. Zacks Research lowered shares of NRG Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Wells Fargo & Company upped their price objective 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. 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 note on Friday, November 7th. UBS Group began coverage on shares of NRG Energy in a report on Tuesday, December 9th. They set a “buy” rating and a $211.00 target price for the company. Finally, 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 research note on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $185.73.

NRG Energy Trading Up 2.4%

Shares of NYSE NRG opened at $179.17 on Friday. The firm’s 50 day moving average price is $156.86 and its 200-day moving average price is $160.19. NRG Energy, Inc. has a 52-week low of $79.57 and a 52-week high of $180.54. 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 company has a market cap of $38.46 billion, a PE ratio of 26.78 and a beta of 1.27.

NRG Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd were issued a $0.475 dividend. 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. This is a positive change 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 has approved a share repurchase program on Thursday, November 6th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the utilities provider to buy up to 9.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Transactions at NRG Energy

In other NRG Energy news, CFO Bruce Chung sold 12,383 shares of the company’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $156.56, for a total transaction of $1,938,682.48. Following the transaction, the chief financial officer owned 79,147 shares in the company, valued at approximately $12,391,254.32. This represents a 13.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Brian Curci sold 60,580 shares of the firm’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 sale, the vice president directly owned 93,089 shares in the company, valued at approximately $15,053,422.19. The trade was a 39.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 172,556 shares of company stock worth $27,550,446 over the last quarter. 0.86% of the stock is currently owned by 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.