NRG Energy, Inc. $NRG Stock: Pictet Asset Management Holding SA Raises Holdings

Key Points

• Pictet Asset Management increased its NRG Energy stake by 3.6% in the third quarter, adding 54,629 shares to own about 1.57 million shares valued at roughly $150 million. Institutional investors and hedge funds hold 97.72% of the company’s stock.
• Analysts give NRG a consensus “Moderate Buy” rating, with an average price target of $173.56. Recent targets ranged from $149 to $195, though some brokerages lowered their estimates.
• NRG declared a quarterly dividend of $0.475 per share, or $1.90 annualized, representing a stated yield of 2.1%. Shares opened at $88.38, compared with a 52-week range of $79.65 to $189.96.

Pictet Asset Management Holding SA boosted its stake in NRG Energy, Inc. (NYSE:NRG - Free Report) by 3.6% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,568,418 shares of the utilities provider's stock after buying an additional 54,629 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.74% of NRG Energy worth $150,052,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Parallel Advisors LLC raised its holdings in shares of NRG Energy by 3.0% in the first quarter. Parallel Advisors LLC now owns 2,523 shares of the utilities provider's stock worth $369,000 after acquiring an additional 74 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in shares of NRG Energy by 1.0% in the first quarter. Gamco Investors INC. ET AL now owns 8,138 shares of the utilities provider's stock valued at $1,189,000 after acquiring an additional 77 shares in the last quarter. Aspen Grove Capital LLC boosted its stake in shares of NRG Energy by 3.1% during the first quarter. Aspen Grove Capital LLC now owns 2,698 shares of the utilities provider's stock valued at $394,000 after acquiring an additional 81 shares during the last quarter. Charles Schwab Trust Co boosted its stake in shares of NRG Energy by 3.8% during the third quarter. Charles Schwab Trust Co now owns 2,765 shares of the utilities provider's stock valued at $264,000 after acquiring an additional 100 shares during the last quarter. Finally, Chesley Taft & Associates LLC boosted its stake in shares of NRG Energy by 1.5% during the second quarter. Chesley Taft & Associates LLC now owns 7,363 shares of the utilities provider's stock valued at $1,075,000 after acquiring an additional 110 shares during the last quarter. Institutional investors and hedge funds own 97.72% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on NRG. Williams Trading set a $165.00 target price on shares of NRG Energy in a research note on Wednesday, October 21st. Evercore reaffirmed an "outperform" rating and set a $195.00 price target on shares of NRG Energy in a research note on Wednesday, August 5th. Scotiabank decreased their price target on shares of NRG Energy from $162.00 to $149.00 and set a "sector outperform" rating on the stock in a research note on Wednesday, October 28th. HSBC assumed coverage on shares of NRG Energy in a report on Thursday, October 22nd. They set a "buy" rating and a $179.00 price target for the company. Finally, Canadian Imperial Bank of Commerce cut their price objective on shares of NRG Energy from $173.00 to $159.00 and set an "outperformer" rating for the company in a research report on Wednesday, October 28th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $173.56.

Insiders Place Their Bets

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

NRG Energy Trading Up 0.1%

Shares of NRG Energy stock opened at $88.38 on Monday. NRG Energy, Inc. has a fifty-two week low of $79.65 and a fifty-two week high of $189.96. The business's fifty day moving average is $102.00 and its two-hundred day moving average is $133.71. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 5.17. The firm has a market cap of $18.65 billion, a PE ratio of 23.38 and a beta of 1.22.

NRG Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors 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 annualized dividend and a yield of 2.1%. NRG Energy's dividend payout ratio is 50.26%.

NRG Energy Company 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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