CIBC Asset Management Inc Raises Holdings in NRG Energy, Inc. $NRG

Key Points

• CIBC Asset Management boosted its NRG Energy stake by 62.7% in the fourth quarter, ending with 45,605 shares valued at about $7.26 million.
• Wall Street remains cautiously positive on NRG, with an average “Moderate Buy” rating and an average price target of $199.69, though some analysts recently trimmed targets or downgraded the stock.
• NRG reported mixed quarterly results: revenue topped expectations at $10.26 billion and rose 19.5% year over year, but adjusted EPS of $1.48 missed estimates of $1.78.

CIBC Asset Management Inc grew its position in NRG Energy, Inc. (NYSE:NRG - Free Report) by 62.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,605 shares of the utilities provider's stock after buying an additional 17,570 shares during the quarter. CIBC Asset Management Inc's holdings in NRG Energy were worth $7,262,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Core Wealth Advisors LLC purchased a new stake in shares of NRG Energy during the 4th quarter worth $28,000. Atlantic Union Bankshares Corp lifted its stake in shares of 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 purchasing an additional 85 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its stake in shares of NRG Energy by 321.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 240 shares of the utilities provider's stock worth $38,000 after purchasing an additional 183 shares during the last quarter. BOKF NA lifted its stake in shares of NRG Energy by 3,714.3% during the 3rd quarter. BOKF NA now owns 267 shares of the utilities provider's stock worth $43,000 after purchasing an additional 260 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its stake in shares of NRG Energy by 140.2% during the 4th quarter. Hantz Financial Services Inc. now owns 293 shares of the utilities provider's stock worth $47,000 after purchasing an additional 171 shares during the last quarter. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NRG has been the subject of a number of analyst reports. BNP Paribas Exane assumed coverage on NRG Energy in a research note on Wednesday, March 18th. They set an "outperform" rating and a $232.00 price objective for the company. Barclays reduced their target price on NRG Energy from $203.00 to $200.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 31st. Zacks Research raised NRG Energy from a "strong sell" rating to a "hold" rating in a research report on Monday, February 23rd. Raymond James Financial set a $210.00 target price on NRG Energy in a research report on Monday, April 27th. Finally, Weiss Ratings lowered NRG Energy from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $199.69.

NRG Energy Stock Down 3.1%

Shares of NRG opened at $129.26 on Friday. NRG Energy, Inc. has a 52 week low of $121.22 and a 52 week high of $189.96. The company has a quick ratio of 0.78, a current ratio of 0.84 and a debt-to-equity ratio of 4.68. The company has a market capitalization of $27.27 billion, a price-to-earnings ratio of 152.07 and a beta of 1.24. The stock's 50-day moving average price is $146.52 and its 200-day moving average price is $155.23.

NRG Energy (NYSE:NRG - Get Free Report) last issued its earnings results on Wednesday, May 6th. The utilities provider reported $1.48 EPS for the quarter, missing analysts' consensus estimates of $1.78 by ($0.30). The company had revenue of $10.26 billion during the quarter, compared to analysts' expectations of $8.43 billion. NRG Energy had a return on equity of 70.67% and a net margin of 0.74%.The firm's quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.68 EPS. NRG Energy has set its FY 2026 guidance at 7.900-9.900 EPS. On average, sell-side analysts predict that NRG Energy, Inc. will post 8.98 EPS for the current year.

NRG Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were given a dividend of $0.475 per share. The ex-dividend date was Friday, May 1st. This represents a $1.90 dividend on an annualized basis and a yield of 1.5%. NRG Energy's dividend payout ratio is currently 223.53%.

Insider Transactions at NRG Energy

In other NRG Energy news, VP Virginia Kinney sold 5,000 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $156.65, for a total transaction of $783,250.00. Following the transaction, the vice president owned 55,495 shares in the company, valued at approximately $8,693,291.75. This represents a 8.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.43% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.