CIBC Asset Management Inc Increases Stake in NRG Energy, Inc. (NYSE:NRG)

CIBC Asset Management Inc lifted its position in NRG Energy, Inc. (NYSE:NRG) by 7.6% during the 3rd quarter, Holdings Channel reports. The firm owned 30,164 shares of the utilities provider’s stock after acquiring an additional 2,131 shares during the period. CIBC Asset Management Inc’s holdings in NRG Energy were worth $2,748,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC increased its position in shares of NRG Energy by 35.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 8,723 shares of the utilities provider’s stock valued at $590,000 after acquiring an additional 2,304 shares during the period. UniSuper Management Pty Ltd increased its holdings in NRG Energy by 492.6% during the 1st quarter. UniSuper Management Pty Ltd now owns 17,719 shares of the utilities provider’s stock valued at $1,199,000 after purchasing an additional 14,729 shares during the period. Bessemer Group Inc. raised its position in NRG Energy by 1.3% during the 1st quarter. Bessemer Group Inc. now owns 25,818 shares of the utilities provider’s stock valued at $1,747,000 after purchasing an additional 320 shares during the last quarter. Crewe Advisors LLC purchased a new stake in NRG Energy in the 1st quarter worth approximately $36,000. Finally, Quadrature Capital Ltd grew its position in shares of NRG Energy by 148.6% in the 1st quarter. Quadrature Capital Ltd now owns 21,814 shares of the utilities provider’s stock worth $1,477,000 after buying an additional 13,040 shares during the last quarter. 97.72% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NRG Energy news, insider Rasesh M. Patel sold 102,603 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $80.35, for a total value of $8,244,151.05. Following the completion of the sale, the insider now directly owns 163,680 shares of the company’s stock, valued at $13,151,688. The trade was a 38.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.86% of the stock is owned by insiders.

NRG Energy Stock Performance

NRG opened at $93.23 on Tuesday. The firm has a market cap of $18.89 billion, a P/E ratio of 23.42, a PEG ratio of 1.34 and a beta of 1.10. NRG Energy, Inc. has a 1-year low of $44.90 and a 1-year high of $102.84. The company has a 50 day simple moving average of $88.81 and a two-hundred day simple moving average of $82.63. The company has a debt-to-equity ratio of 5.57, a current ratio of 1.17 and a quick ratio of 1.10.

NRG Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Friday, November 1st. NRG Energy’s dividend payout ratio is currently 40.95%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NRG shares. Jefferies Financial Group assumed coverage on NRG Energy in a report on Friday, September 13th. They set a “hold” rating and a $82.00 target price for the company. Guggenheim raised their target price on shares of NRG Energy from $77.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Wells Fargo & Company boosted their price target on shares of NRG Energy from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. BMO Capital Markets upped their target price on NRG Energy from $90.00 to $94.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Finally, Citigroup raised their target price on NRG Energy from $84.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $97.43.

NRG Energy Company Profile

NRG Energy, Inc, together with its subsidiaries, operates as an energy and home services company in the United States and Canada. It operates through Texas; East; West/Services/Other; Vivint Smart Home; and Corporate Activities segments. The company produces and sells electricity generated using coal, oil, solar, and battery storage; natural gas; and a cloud-based home platform, including hardware, software, sales, installation, customer service, technical support, and professional monitoring solutions.