NRG Energy, Inc. $NRG Position Lifted by CenterBook Partners LP

CenterBook Partners LP grew its position in NRG Energy, Inc. (NYSE:NRG) by 513.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,213 shares of the utilities provider’s stock after acquiring an additional 17,756 shares during the quarter. CenterBook Partners LP’s holdings in NRG Energy were worth $2,029,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NRG. Bank of New York Mellon Corp bought a new stake in shares of NRG Energy in the 2nd quarter worth about $473,391,000. Assenagon Asset Management S.A. grew its holdings in NRG Energy by 96.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 967,264 shares of the utilities provider’s stock valued at $141,279,000 after purchasing an additional 474,474 shares during the last quarter. Electron Capital Partners LLC bought a new position in NRG Energy during the 1st quarter valued at about $59,455,000. Amundi grew its holdings in NRG Energy by 169.9% during the 1st quarter. Amundi now owns 636,262 shares of the utilities provider’s stock valued at $92,983,000 after purchasing an additional 400,540 shares during the last quarter. Finally, Bank of America Corp DE raised its position in NRG Energy by 16.7% in the 1st quarter. Bank of America Corp DE now owns 2,192,394 shares of the utilities provider’s stock worth $320,396,000 after purchasing an additional 313,410 shares during the period. Institutional investors own 97.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Evercore reissued an “outperform” rating and issued a $195.00 price objective on shares of NRG Energy in a research note on Wednesday, August 5th. Morgan Stanley dropped their target price on NRG Energy from $159.00 to $144.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 21st. Barclays cut their target price on NRG Energy from $204.00 to $163.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 27th. BMO Capital Markets reiterated a “market perform” rating and issued a $214.00 price target on shares of NRG Energy in a report on Thursday, August 6th. Finally, Raymond James Financial set a $152.00 price target on NRG Energy in a report on Wednesday, October 21st. Two research 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.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $173.56.

Insider Buying and Selling

In related news, CAO Gerald Alfred Spencer sold 1,580 shares of NRG Energy stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $120.93, for a total transaction of $191,069.40. Following the completion of the sale, the chief accounting officer owned 6,213 shares in the company, valued at $751,338.09. This trade represents a 20.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by corporate insiders.

NRG Energy Stock Up 0.1%

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 twelve month low of $79.65 and a twelve 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 stock has a fifty day simple moving average of $102.00 and a 200-day simple moving average of $133.71.

NRG Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be paid a $0.4750 dividend. This represents a $1.90 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Monday, November 2nd. NRG Energy’s dividend payout ratio (DPR) is currently 50.26%.

About NRG Energy

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.