Procyon Advisors LLC Boosts Holdings in NRG Energy, Inc. (NYSE:NRG)

Procyon Advisors LLC lifted its stake in NRG Energy, Inc. (NYSE:NRG) by 9.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,513 shares of the utilities provider’s stock after buying an additional 2,845 shares during the quarter. Procyon Advisors LLC’s holdings in NRG Energy were worth $3,114,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NRG. HCR Wealth Advisors boosted its holdings in shares of NRG Energy by 38.1% during the 4th quarter. HCR Wealth Advisors now owns 4,928 shares of the utilities provider’s stock valued at $445,000 after purchasing an additional 1,360 shares during the last quarter. Meyer Handelman Co. lifted its position in shares of NRG Energy by 43.8% in the fourth quarter. Meyer Handelman Co. now owns 78,982 shares of the utilities provider’s stock worth $7,126,000 after buying an additional 24,062 shares in the last quarter. Park Avenue Securities LLC boosted its stake in NRG Energy by 30.3% during the fourth quarter. Park Avenue Securities LLC now owns 6,398 shares of the utilities provider’s stock valued at $577,000 after buying an additional 1,488 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of NRG Energy by 1,010.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,557,350 shares of the utilities provider’s stock valued at $140,504,000 after purchasing an additional 1,417,057 shares in the last quarter. Finally, Greenfield Savings Bank grew its stake in shares of NRG Energy by 5.1% in the 4th quarter. Greenfield Savings Bank now owns 8,727 shares of the utilities provider’s stock worth $787,000 after buying an additional 427 shares in the last quarter. Institutional investors own 97.72% of the company’s stock.

Insider Transactions at NRG Energy

In related news, VP Robert J. Gaudette sold 60,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $91.41, for a total value of $5,484,600.00. Following the transaction, the vice president now owns 64,448 shares in the company, valued at approximately $5,891,191.68. This represents a 48.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the chief financial officer now owns 69,454 shares of the company’s stock, valued at approximately $6,780,794.02. This represents a 22.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Jefferies Financial Group upgraded NRG Energy from a “hold” rating to a “buy” rating and raised their price target for the stock from $93.00 to $113.00 in a research report on Tuesday, November 26th. Wells Fargo & Company boosted their target price on NRG Energy from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Citigroup increased their price target on NRG Energy from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. BMO Capital Markets increased their target price on NRG Energy from $94.00 to $100.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 19th. Finally, Guggenheim lifted their target price on NRG Energy from $77.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, NRG Energy presently has a consensus rating of “Moderate Buy” and an average price target of $102.71.

NRG Energy Stock Performance

Shares of NRG Energy stock opened at $106.03 on Friday. The firm has a market capitalization of $21.48 billion, a P/E ratio of 26.64, a PEG ratio of 1.17 and a beta of 1.15. NRG Energy, Inc. has a 52 week low of $50.43 and a 52 week high of $106.65. The company has a quick ratio of 1.10, a current ratio of 1.17 and a debt-to-equity ratio of 5.57. The company has a 50 day moving average price of $95.64 and a 200 day moving average price of $87.20.

NRG Energy 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.