Pitcairn Co. Sells 245 Shares of NRG Energy, Inc. (NYSE:NRG)

Pitcairn Co. cut its holdings in NRG Energy, Inc. (NYSE:NRG) by 8.4% during the 4th quarter, Holdings Channel reports. The firm owned 2,674 shares of the utilities provider’s stock after selling 245 shares during the period. Pitcairn Co.’s holdings in NRG Energy were worth $241,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of NRG. SBI Securities Co. Ltd. purchased a new position in shares of NRG Energy during the fourth quarter valued at approximately $32,000. UMB Bank n.a. increased its position in NRG Energy by 100.4% during the 4th quarter. UMB Bank n.a. now owns 455 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 228 shares during the period. Princeton Global Asset Management LLC raised its holdings in NRG Energy by 414.9% in the 4th quarter. Princeton Global Asset Management LLC now owns 484 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 390 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of NRG Energy by 221.0% in the 4th quarter. Larson Financial Group LLC now owns 504 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 347 shares during the period. Finally, Grove Bank & Trust boosted its stake in shares of NRG Energy by 29.7% during the 4th quarter. Grove Bank & Trust now owns 564 shares of the utilities provider’s stock valued at $51,000 after purchasing an additional 129 shares in the last quarter. Hedge funds and other institutional investors own 97.72% of the company’s stock.

Insider Activity

In other news, CFO Bruce Chung sold 20,000 shares of NRG Energy stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $97.63, for a total value of $1,952,600.00. Following the completion of the sale, the chief financial officer now directly owns 69,454 shares in the company, valued at $6,780,794.02. The trade was a 22.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.86% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on NRG shares. The Goldman Sachs Group started coverage on shares of NRG Energy in a report on Friday. They issued a “buy” rating and a $129.00 price objective for the company. Morgan Stanley lifted their price target on NRG Energy from $86.00 to $99.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. Wells Fargo & Company increased their price objective on NRG Energy from $140.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. StockNews.com cut shares of NRG Energy from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Finally, Evercore ISI upgraded shares of NRG Energy from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $74.00 to $126.00 in a research note on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $124.00.

NRG Energy Trading Down 10.1 %

NYSE:NRG opened at $83.38 on Monday. NRG Energy, Inc. has a 52 week low of $65.11 and a 52 week high of $117.26. The stock has a market cap of $16.98 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 1.01 and a beta of 1.10. The company’s 50 day moving average price is $100.23 and its 200-day moving average price is $96.28. The company has a quick ratio of 1.10, a current ratio of 1.17 and a debt-to-equity ratio of 5.57.

NRG Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were issued a $0.44 dividend. This is a positive change from NRG Energy’s previous quarterly dividend of $0.41. The ex-dividend date was Monday, February 3rd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.11%. NRG Energy’s dividend payout ratio (DPR) is presently 35.92%.

About NRG Energy

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.