NRG Energy, Inc. $NRG Holdings Raised by MidWestOne Financial Group Inc.

MidWestOne Financial Group Inc. boosted its stake in NRG Energy, Inc. (NYSE:NRG) by 58.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,992 shares of the utilities provider’s stock after buying an additional 7,344 shares during the period. MidWestOne Financial Group Inc.’s holdings in NRG Energy were worth $3,238,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NRG. Holocene Advisors LP increased its stake in shares of NRG Energy by 113.3% during the second quarter. Holocene Advisors LP now owns 1,444,271 shares of the utilities provider’s stock valued at $231,921,000 after acquiring an additional 767,014 shares during the period. Worldquant Millennium Advisors LLC increased its position in shares of NRG Energy by 492.5% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 883,781 shares of the utilities provider’s stock valued at $141,918,000 after purchasing an additional 734,624 shares during the period. Bessemer Group Inc. increased its position in shares of NRG Energy by 4,470.7% during the 3rd quarter. Bessemer Group Inc. now owns 614,524 shares of the utilities provider’s stock valued at $99,521,000 after purchasing an additional 601,079 shares during the period. Federated Hermes Inc. lifted its holdings in shares of NRG Energy by 87.2% in the second quarter. Federated Hermes Inc. now owns 673,152 shares of the utilities provider’s stock valued at $108,095,000 after buying an additional 313,482 shares during the period. Finally, Jennison Associates LLC boosted its stake in NRG Energy by 87.2% during the second quarter. Jennison Associates LLC now owns 529,556 shares of the utilities provider’s stock valued at $85,036,000 after buying an additional 246,741 shares in the last quarter. 97.72% of the stock is currently owned by institutional investors.

NRG Energy Trading Up 6.7%

NRG Energy stock opened at $172.60 on Friday. 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 firm has a market capitalization of $37.05 billion, a price-to-earnings ratio of 25.80 and a beta of 1.27. The company has a 50 day moving average price of $156.04 and a 200 day moving average price of $159.94.

NRG Energy announced that its Board of Directors has initiated a share repurchase plan on Thursday, November 6th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the utilities provider to buy up to 9.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

NRG Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd will be issued 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 is Monday, February 2nd. NRG Energy’s dividend payout ratio is presently 28.40%.

Insider Activity at NRG Energy

In other news, VP Robert J. Gaudette sold 45,000 shares of the stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $158.76, for a total value of $7,144,200.00. Following the completion of the sale, the vice president directly owned 63,920 shares of the company’s stock, valued at $10,147,939.20. This represents a 41.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brian Curci sold 60,580 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $161.71, for a total transaction of $9,796,391.80. Following the sale, the vice president owned 93,089 shares of the company’s stock, valued at approximately $15,053,422.19. This represents a 39.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 172,556 shares of company stock valued at $27,550,446. Company insiders own 0.86% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Zacks Research cut shares of NRG Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Wells Fargo & Company boosted their target price 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. Morgan Stanley reissued an “underperform” rating on shares of NRG Energy in a research note on Thursday, November 20th. Jefferies Financial Group decreased their price target on shares of NRG Energy from $198.00 to $181.00 and set a “buy” rating on the stock in a research report on Tuesday, January 27th. Finally, BMO Capital Markets increased their price objective on NRG Energy from $185.00 to $195.00 and gave the company a “market perform” rating in a research report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, NRG Energy presently has an average rating of “Moderate Buy” and a consensus price target of $184.91.

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.