NRG Energy, Inc. $NRG Stock: CenterBook Partners LP Increases Stake

Key Points

• CenterBook Partners LP increased its NRG Energy stake by 513.6% in the third quarter, adding 17,756 shares to hold 21,213 shares valued at about $2.03 million.
• Analysts rate NRG a “Moderate Buy” overall, with an average price target of $173.56; two analysts give it a Strong Buy, eleven a Buy, and four a Hold.
• NRG declared a quarterly dividend of $0.475 per share, equivalent to $1.90 annually and a 2.1% yield. The company’s chief accounting officer also sold 1,580 shares under a pre-arranged trading plan.

CenterBook Partners LP boosted its stake in NRG Energy, Inc. (NYSE:NRG - Free Report) by 513.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,213 shares of the utilities provider's stock after purchasing an additional 17,756 shares during the quarter. CenterBook Partners LP's holdings in NRG Energy were worth $2,029,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Heritage Family Offices LLP bought a new position in NRG Energy during the third quarter valued at approximately $53,000. Chicago Partners Investment Group LLC grew its holdings in NRG Energy by 99.1% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 7,464 shares of the utilities provider's stock valued at $689,000 after buying an additional 3,716 shares in the last quarter. American Assets Inc. bought a new stake in NRG Energy in the 3rd quarter worth approximately $383,000. Rakuten Investment Management Inc. increased its stake in NRG Energy by 8.8% in the 3rd quarter. Rakuten Investment Management Inc. now owns 37,095 shares of the utilities provider's stock worth $3,605,000 after acquiring an additional 2,998 shares during the last quarter. Finally, Third View Private Wealth LLC raised its holdings in shares of NRG Energy by 30.9% during the 3rd quarter. Third View Private Wealth LLC now owns 2,964 shares of the utilities provider's stock worth $284,000 after acquiring an additional 699 shares in the last quarter. Institutional investors own 97.72% of the company's stock.

Insider Activity

In other news, CAO Gerald Alfred Spencer sold 1,580 shares of the firm's stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $120.93, for a total value of $191,069.40. Following the completion of the sale, the chief accounting officer directly owned 6,213 shares of the company's stock, valued at $751,338.09. This trade represents a 20.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NRG has been the subject of a number of research reports. Zacks Research upgraded NRG Energy from a "strong sell" rating to a "hold" rating in a research report on Tuesday, October 27th. Jefferies Financial Group set a $131.00 target price on shares of NRG Energy in a report on Monday, October 19th. Evercore restated an "outperform" rating and issued a $195.00 price target on shares of NRG Energy in a research report on Wednesday, August 5th. Weiss Ratings upgraded shares of NRG Energy from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, October 9th. Finally, Williams Trading set a $165.00 price target on shares of NRG Energy in a research note on Wednesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $173.56.

NRG Energy Stock Up 0.1%

Shares of NYSE:NRG opened at $88.38 on Monday. The company has a market cap of $18.65 billion, a price-to-earnings ratio of 23.38 and a beta of 1.22. NRG Energy, Inc. has a 12 month low of $79.65 and a 12 month high of $189.96. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 5.17. The company has a 50-day moving average price of $102.00 and a 200 day moving average price of $133.71.

NRG Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 2nd will be given a dividend of $0.4750 per share. The ex-dividend date is Monday, November 2nd. This represents a $1.90 dividend on an annualized basis and a yield of 2.1%. NRG Energy's dividend payout ratio is 50.26%.

NRG Energy Profile

NRG Energy, Inc is an integrated energy company that produces and sells electricity and natural gas and provides home services. Its businesses serve residential, commercial and industrial customers, primarily in the United States and Canada.

The company supplies retail electricity and natural gas through a range of plans and brands, while its power-generation operations help support electricity markets across its service areas. NRG also offers energy-management programs and related services for businesses and other large customers.

NRG expanded into smart-home services with its 2023 acquisition of Vivint Smart Home.

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